Yesterday’s editorial on the proposed redevelopment of the Bangor Raceway and the referendum to allow slot machines at the track missed the essence of this proposal. Tuesday’s vote is about preserving a treasured Maine industry while providing significant economic benefits to Bangor.

The Bangor Raceway has a proud history. Live racing has been enjoyed at Bass Park for more than 120 years, but unfortunately the industry has been in decline in recent years as newer forms of entertainment have proliferated. Still, we believe something should be done to save the harness racing industry’s 2,000 jobs and $50 million annual contribution to the state’s economy, and the new owners of the Bangor Raceway have a plan.

That plan, which has been covered extensively in the pages of this newspaper, is to build a $30 million entertainment complex at Bass Park that will inject new life into the harness racing industry and add millions of dollars to our local economy.

However, to realize the full benefits of the plan, a local and statewide vote on the use of slot machines at the Bangor Raceway is required. Unlike the plans for a massive new Indian casino in southern Maine, this proposal is about simply adding one more form of gaming to a facility that has had legal wagering for years.

So what are the benefits? According to a study by the Margaret Chase Smith Center for Public Policy at the University of Maine, this project will result in hundreds of construction jobs ($9.1 million in payroll) and more than 500 permanent jobs. Of the 500 new jobs, just over 300 will be at the track. These full- and part-time jobs will range from seasonal employees to senior management positions.

We can’t overlook the value of these jobs. Just last week the Bangor Daily News reported another 165 layoffs in the local area. It doesn’t matter if you are a millworker, a contractor or a corporate executive, you know we need new jobs to keep our local economy on track and provide opportunities for our young people.

The city of Bangor also stands to gain a great deal from this proposal. According to the Margaret Chase Smith Center report, the raceway project will add $95.6 million each year to the local economy – dollars that undoubtedly will be a catalyst for additional capital investment in Bangor.

The city also will get millions of dollars in direct payments. The Bangor Raceway ownership will pay more than $1 million each year in lease payments and property taxes alone. The developer has further committed to share a minimum of $1 million of their gaming profits each year with the city – a payment that will go up as the gaming revenues increase.

As many others have pointed out, this is money that could be used to fund the construction of a badly needed new auditorium or other important civic projects. The city incurs all these benefits and the developer assumes all the risk.

In addition, the statewide referendum calls for monies to be dedicated to some of the state’s most pressing needs. Ten percent of all the slot revenues will be used to help seniors and the disabled pay for prescription drugs. Another 3 percent of the slot revenues will fund college scholarships for deserving Maine students and millions of new dollars will be pumped into Maine’s agriculture industry through the support of harness racing and Maine’s agricultural fairs.

The owners of the Bangor Raceway have retained some of the best companies in Maine, like Cianbro, to make this project work. In meetings with the city and the local news media, they have presented the details of their plan, and now we, as voters, must make our voices heard on this important proposal.

The plan for the Bangor Raceway will bring jobs and a whole lot more to our city. We all know someone who has lost a job or left the Bangor area for better opportunities. This is a chance to give our local economy a real boost. We think it is a chance well worth taking, and we hope you will join us in voting yes on Tuesday.

Doug Clendenning is a retired businessman, driver, trainer and owner of racehorses. Bill Varney is a local businessman and horse owner. Both reside in Bangor.