At the standing committee of the city council in Yokohama City on Monday, it was revealed that the city would publish its draft policy on integrated resorts in March, to be followed by a period for public comments between March and April regarding the IR bid. Public comments will be accepted from 6 March.
Yokohama city will use these opinions to formalize its Implementation Policy and Recruitment Summary in June at which time it will start the RFP period.
The draft states that an IR facility will function as a gateway and deliver tradition and culture, while also aiming to bring innovation to the tourism and economy of Yokohama.
Yokohama city will establish an organization that will coordinate work with Kanagawa Prefecture and the Public Safety Commission in selecting operators, and then preparation work will proceed.
Yokohama estimates that the financial effect of an IR on the local government’s revenue will be between JPY 82 billion to 120 billion. Considering that corporate city tax for 2018 was JPY 62 billion, this looms as a huge boost in tax revenue.