SYLVAN BEACH, N.Y. — The Oneida Indian Nation plans to open the Lake House at Sylvan Beach, a project at the site of the former DiCastro’s restaurant and event hall that will create 60 new jobs.
Word of the new development project comes as Oneida County announced that the Oneida Nation’s enterprises generated more than $70 million in revenue in 2019 for New York and the county.
The new facility will open in May 2020 and feature indoor and outdoor dining options and gaming on the premises, per a Wednesday news release.
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“We welcome the Oneida Indian Nation’s investment in our village and their assistance in helping us transform Sylvan Beach into a year-round tourist destination,” Sylvan Beach Mayor Gregory Horan said. “It is always our top priority to develop new revenue streams which will help us maintain our tax base.”
Revenue generation
The Oneida Nation contends the upcoming Lake House project will be another example of its “consistent reinvestment” in the region, which it also believes drove its 2019 revenue figure.
In 2019, The Oneida Indian Nation generated more than $70 million in revenue for New York State, including $18 million to Oneida County. That “far surpasses” the $50 million that was projected upon the signing of the 2013 settlement between the Oneida Indian Nation, New York State, and Oneida and Madison counties, the Nation contends.
Gov. Andrew Cuomo in May 2013 announced an agreement between the state and the Oneida Indian Nation that will have the Nation paying the state an estimated $50 million a year in Turning Stone Resort Casino revenue in return for a guarantee that no other casinos are built in Central New York.
In all, the settlement has generated $330 million for New York State, including $100 million which has gone directly to Oneida County, the Oneida Nation said. That revenue has helped the county avoid raising taxes for six straight years and invest in public safety, education and economic-development programs, the Nation added.
“When we signed the historic 2013 settlement, we knew that working together would pay big dividends for Central New York …and the revenues prove that we were right,” Oneida Indian Nation representative Ray Halbritter said in the release. “We are thrilled to be expanding on this success with the new Sylvan Beach project, which will continue to make Central New York a world-class tourist destination and support the local economy with new jobs and new public revenues.”
“The partnership between Oneida County and the Oneida Indian Nation is helping keep our county property taxes low and finance critical investments in our county,” Picente added in the news release. “The revenue figures and the new redevelopment plans make clear that this is a successful model that is driving tourism to the region, and building a bright future for Central New York.”
Contact Reinhardt at ereinhardt@cnybj.com
