GlobeSt.com
UPDATE Last updated: October 27, 2008 04:54pm
Delaware N. HQ Expands as Part of $371M Plan
Aqueduct rendering
By Natalie Dolce
QUEENS, NY-Gov. David Paterson revealed on Monday that Delaware North, which was selected to operate the 328,000-sf Video Lottery Terminal facility at the Aqueduct Racetrack, as GlobeSt.com previously reported, will add 50 jobs at its Buffalo-based headquarters. The company will also look to break ground on the new facility in Queens by early 2009.
The selection of Delaware North was made by Gov. Paterson, Speaker Sheldon Silver and Senate Majority Leader Dean Skelos last week.
Delaware North will invest $370 million up-front to build and operate the VLT facility. As part of the development package, Delaware North will use the services of the Peebles Corp., an African-American-owned real estate development company, and McKissack & McKissack, an African-American, woman-owned professional design and construction firm, according to a prepared release.
Funds from the VLT facility at Aqueduct "will provide sustained resources for elementary and secondary education, while also supporting the operation and improvement of the three thoroughbred racing facilities," according to a statement. Once operational, the VLT facility is expected to bring in at least $8.2 billion for education over the next 30 years.
According to the current education funding formula, the Buffalo City School Districts would receive allocations of $4.4 million and Erie County School Districts would receive $11.8 million during the first year that video lottery terminals are up and running.
A Delaware North spokesman tells GlobeSt.com that completion is expected in early 2010. The spokesman also notes that the 50 jobs added in the Buffalo area will support construction management, technology, marketing, human resources and gaming management needs at Aqueduct.
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