Austin DFL Sen. Dan Sparks joined other lawmakers this morning in announcing they are introducing a bill to allow slot machines at two horse racing tracks in the state. They say these "racinos" would raise $125 million a year and that money could be divvied up among several area -- including for a Minnesota Vikings Stadium.
In an interesting twist, lawmakers also touted the potential of this to raise money for bioscience projects like the proposed Elk Run Biobusiness Park in Pine Island. City Administrator Abraham Algadi attended a Capitol news conference this morning to show his support for the project.
"From our perspective, biotechnology is going to be spurring a lot of economic activity in our region," Algadi said.
According to the bill, 20 percent of the total revenues raised would be allocated to five areas: Agriculture and rural development; early childhood development and family education; research and development of bioscience and medical technology business; athletic, recreations or extracurricular facilities and general fund expenditures.
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"This is a unique idea that has the potential to infuse millions of dollars into the state at the time we need it the most," said Sparks, who is the senate author of the bill.
Also helping to push the bill is former state Sen. Dick Day of Owatonna, who now heads the Racino Now lobbying group.
