The company would also provide health insurance, short- and long-term disability insurance, paid time off for vacation and holidays, educational benefits such as tuition reimbursement, and a 401k with a company match to its employees.
The city also expects a windfall of annual revenue from the casino resort.
On Tuesday, Larking told City Council that, based on estimates by Caesars, the development will generate — by the third year of operation — $22 million in state-collected gaming tax revenue remitted to the city, $12 million in annual supplemental payments to Danville, and $4.2 million in meals, sales, lodging, and property taxes.
That’s a total of about $38 million.
“The $38 million is huge compared to our budget,” said Vice Mayor Gary Miller. “That’s a big amount.”
Larking pointed out during a presentation to council Tuesday night that $38 million is about a third of the city’s budget. The city’s general fund is currently about $115.6 million, said Finance Director Michael Adkins.
As for the fire engine and EMS vehicle the company would purchase, Larking pointed out that they would cost about $500,000 to $600,000 and about $300,000, respectively.
“That’s almost $1 million in additional investment,” Miller said.