The following editorial appeared in the Ruidoso News today under the heading “Support track legislation,” and is offered for submission to all media.
Track Legislation Essential to Economy
By State Representative Zach Cook, District 56
We in Ruidoso make up a small community and we rely heavily on tourism to support our local economy. Currently the Ruidoso Downs Race Track and Casino is being threatened by low revenue and is considering relocating. In fact, the race track has gone as far to file an application with the New Mexico Horse Racing Commission asking for permission to move the business to the Las Cruces area.
The loss of the track would have a significant impact on our community’s economic well being and would result in significant job loss as well as a large decline in tourism to the area. This session I’m supporting legislation (HB 203) to provide the people of Lincoln County the opportunity to keep the race track in Ruidoso.
The track has a local payroll that is close to $ 4.8 million and employs more than 130 people year-round. During the racing season employment climbs to more than 400 employees, boosting the economy of the entire Ruidoso region. In addition, tourism escalates to nearly 300,000 visitors each year. All of this activity adds up to an impact of more than $30 million.
HB 203 allows the community the option to hold a vote for a county gross receipts business retention tax. If counties with race track casinos choose to take this option, the race track will be able to take a credit against the tax.
Recently a survey was taken to gauge support for such an option. Greater than 74% of those surveyed were residents of Lincoln County and nearly 26% lived in other counties but took an interest in the issue. The survey found that residents and non-residents alike support the race track casino by an overwhelming margin and believe, rightfully so, that it provides an enormous economic impact to the area. According to an executive summary of the survey, more than 76% of respondents were familiar with tax parity legislation while more than 86% responded that they would support a local option county business gross receipts retention tax to help keep the race track casino in Ruidoso Downs.
If HB 203 is not approved this legislative session the Ruidoso region will likely lose Ruidoso Downs Race Track and Casino. This means that at least 530 of us will lose full-time or seasonal employment. This means that we will lose many of the 300,000 visitors to our corner of New Mexico throughout the year, who help bring in nearly $30 million a year to the region. This means that our community will lose a major piece of our economy.
I strongly urge you to write, call, or visit your legislators to support this legislation. Without your support, HB 203 will not make it through the process and we could lose Ruidoso Downs Race Track and Casino.
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