Guest MINDSETTER™ Joseph Paolino: The Truth About Plans for Newport Grand, Let the Voters Decide

Wednesday, May 28, 2014

Joseph Paolino, Guest MINDSETTER™

 

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This evening, the Newport City Council will consider whether to ask the General Assembly to place a question about the future of Newport Grand on the November ballot. The stakes are high – hundreds of jobs are at risk, as well as the opportunity to add many new jobs for Newporters. Also at risk - $1 million in revenue for the City of Newport and millions more for the state. My local partners and I are all homeowners in Newport and we are prepared to invest $40 million to upgrade and improve the current facility, to make it a world-class entertainment complex. But voter approval is required first. 

The truth is, gaming is already in Newport - and has been since the 1970s, but unlike in the past Newport Grand will fail, very soon, without significant upgrades and table games. The looming threat of Massachusetts casinos and the pull of table games in Connecticut and to the north in Lincoln has driven people away. This is no time to reverse course and put the nearly 200 people who work at Newport Grand out into one of the worst job markets in our state's history. It is time to improve what we have, and make it work for Newport.

There is a small group of vocal people in Newport who believe that the jobs at Newport Grand are not worth saving.We disagree. We think that every job is important, and we want to add jobs. Those same people also think that the revenue from Newport Grand that goes to the City would be better realized by raising everyone’s taxes. We disagree - Newporters should not be paying higher taxes.

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In 2012, these opponents used a patent falsehood to win at the polls. While this is a new year with a brand new, significantly improved, proposal from me and my Newport partners with clear benefits for our City. Things have changed. Unfortunately the opposition tactics remain the same. They are trotting out mistruths.

Newport Grand will be a World-Class Entertainment Complex

They say that we plan to "tart up" Newport We are a group of local homeowners who care about Newport, and who believe that the character of this complex should reflect the character of the city that we love. We are not building a Las Vegas-style casino. We plan to transform Newport Grand into a world-class entertainment complex, one that looks beautiful and is reminiscent of one of the most renowned facilities in the world - Monte Carlo. We want a space that suits our city, and provides year-round benefit to the local businesses and the city's tax base.

They say that if the voters approve of our proposal, Newport Grand will move. This is categorically false.  There are no plans to move Newport Grand, now, or ever.  We have no intention of investing $40 million in Newport Grand at its current location – and then moving.  It is a foolish argument on its face.  In fact, Senate President Teresa Paiva Weed of Newport recently called for a constitutional amendment explicitly prohibiting Newport Grand’s gaming license from being moved to a new location. We support her proposal and will only invest our $40 million to improve the building and surrounding property. Period.

Today, approximately 200 people work at Newport Grand. However, the fact that Massachusetts is pursuing their own gaming facility in Fall River puts those 200 jobs at serious risk. Our $40 million improvement plan for the current location will not only save those jobs, but will also create many new jobs – and all at a world-class entertainment complex that is an asset to the community, and the state.  It would also have a similar impact on the other jobs that rely on Newport Grand – the IT professional, the plumbers, the electricians and the HVAC repair persons who service the facility, and more. Further, this improvement plan will ensure that the City of Newport continues to receive the $1 million in revenue from Newport Grand - revenues that would otherwise be replaced by increased property taxes.

Committed to Newport

My partners and I are committed to Newport. We are Newporters – not by birth, but by choice. We have chosen to invest and own homes in a city that we appreciate.  We care about the city, the local economy and most importantly, the people and the families in Newport. With the voter’s help we will revive Newport Grand – keeping it at its current location, creating jobs for local residents, and helping to speed Rhode Island’s economic recovery by ensuring that Newport Grand is a renowned entertainment venue hosting top performers.

 We look forward to working with the community on this project and are excited about the benefits it will provide for years to come. We are hopeful for a successful City Council vote tonight and with that will continue to engage Newport, and the entire state, about our plans to transform Newport Grand into an elegant entertainment complex and will provide everyone with updates on this project.

Joseph Paolino is a former Providence Mayor and is part of an investment group purchasing Newport Grand Casino.

 

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