One proposal for a New York casino in Orange County hopes to add a business incubator project to the casino to help diversify the business.
The Cordish Cos. and Penn National Gaming Inc. proposal for its Live! Hotel Casino, Orange County includes both a new gaming complex and a space to support the creation of new manufacturing jobs.
The business incubator is called H2V2 and is projected to create 10 new business projects annually as well as support 380 direct and indirect job. The project hopes to create jobs with annual salaries of $75,000, and have a multiplier effect that creates more than 7,500 jobs in 20 years, according to the Cordish Cos.
The project is modeled after Massachusetts’ M2D2 project, which paired the state’s medical research industry with manufacturers. The New York project would provide space for manufacturing companies and at least $1.5 million in annual grants to manufacturers to locate in the region.
