A proposed waterpark, hotel and convention center could bring in $92 million in new tax revenues in addition to new jobs to the Port Clinton area, according to an economic impact study.
That figure is the cumulative amount of new tax money the resort could generate over the course of 12 years, according to David Sangree, president of the Cleveland-based Hotel & Leisure Advisors, who wrote the report.
And retail and services revenues for associated businesses will have an even bigger impact,Sangree said.
“The cumulative effect of the project from construction activity, resort operations and visitor spending outside the resort (and in Ottawa County) will exceed $1 billion over the first 12 years of development and operation.”
Sangree estimates the proposed resort on Water Works Park would create about 711 jobs and 332 “spinoff” jobs during the resort’s two-yearconstruction period.
The report does not include the impactsassociated with the development of the proposed $10 million 161-slip marina.
But before any of that can happen voters will have to approve the rezoning of Water Works Park already made by the Port Clinton City Council. The referendum on next month’s election will decide the fate of the proposal.
Without the zoning change, no development can be built on the 14-acre park along the Lake Erie waterfront. The construction cost of the resort is estimated at $63.3 million.
Councilman Glenn Chapman, who is against the rezoning of the park, said Sangree’s report is misleading.
“I’m a little suspect about the numbers,” he said. “There’s no way to tell from this report because they don’t differentiate between Port Clinton, the county and the state.”
Mayor Tom Brown said the report is credible.
“From the preliminary draft, I think he’s right on target,” Brown said. “His professional review, I take with a great deal of interest and integrity.”
Brown said he received the final report Friday and will give it to Council to review before a speciall meeting at 6:30 p.m. Tuesday. Brown said Sangree will be on hand Tuesday to answer questions about the numbers and development.