A highly anticipated project, deemed a “transformative economic engine” by experts, is on the horizon for the region pending approval from lawmakers.

Recently unveiled, a study focusing on the economic impact of a proposed casino in New Haven, Indiana paints a promising picture of job creation and tax revenue generation that could benefit the area significantly.

Prepared by CBRE Investment Banking for Full House Resorts Inc., the study outlines the potential benefits of a $500 million investment in New Haven by transferring a casino license from southeastern Indiana. Pending approval from lawmakers, Full House Resorts plans to move its license from the Rising Star Casino to New Haven, where they aim to develop a new hotel and casino resort complete with various amenities.

In the initial phase of the project, the study projects a total of $82.8 million in taxes to be generated. The majority of this revenue, $53.5 million, would go to the state of Indiana. Allen County and New Haven are also expected to receive $0.9 million and $18.3 million in taxes, respectively. Other governing bodies and stakeholders would see proceeds of $10.2 million during Phase I of the New Haven casino project.

Non-gaming taxes are estimated to bring in $10.4 million, while gaming taxes during Phase I are projected at $72.4 million. This figure consists of $65.4 million in wagering tax and $7 million in supplemental wagering tax.

If the casino project in New Haven moves forward, it could create 2,760 construction-related jobs during Phase I. Additionally, the project is expected to generate 2,426 new jobs during this initial phase, providing a significant boost to the local workforce and economy.