While the Canadian side of Niagara Falls continues to thrive on tourism, its American counterpart is has not fared as well. According to recent reports, the city is failing financially and has come to a road block. With tourism waning and the city’s only casino refusing to pay taxes, Niagara Falls has adopted a ‘try anything’ approach in hopes of boosting the local economy.
The city’s gaming profits are virtually non-existent. While the Canadian side of is thriving off of profits from its two casinos, America’s Niagara Falls depends on revenue from the Seneca Casino. Unfortunately, a dispute with New York State has caused the casino to withhold upwards of $50 million in gaming taxes for the past few years. So, the city willing to try anything to help its economy recover.
What this means is that the city has proposed a number of unique ways to bring tourism back to the city and boost residential rates. One of the most controversial plans sees the city offering to pay off the first two years’ of a university graduate’s student loans if they move into targeted areas in Niagara Falls. With student loan debt surpassing $1 trillion this year, this plan is very likely to work. There are only 50 000 residents in the city, and if the popular shrinks any more, it could result in Niagara Falls losing government grants.
A recent plan that has worked was turning Niagara Falls into a same-sex marriage destination. By appealing to same-sex couples, the city has almost returned to its former glory as a leading American honeymoon destination. Wedding vendors have reported a 25% increase in business ever since Niagara Falls took on this approach.
Several other new plans include a new culinary institute for Niagara County Community College as well as the construction of a $22 million luxury hotel. We hope to see Niagara Falls return to its former glory, as it was once a premier tourist destination.