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Photo - Aj Mansour (KFAN)
By: Aj Mansour | KFAN.com
St. Paul, MN - Continuing a week long run that will land his name in the newspaper everyday, Thursday afternoon Governor Mark Dayton announced the State's plan to further generate funds to support the financing of the new Minnesota Vikings stadium in downtown Minneapolis.
Initially, the State's portion of the $975 million stadium was going to be generated through the implementation of electronic pull tabs. Expected to bring in $34 million in their first year, to date the electronic pull tabs are estimated to bring in only $1.7 million. The large differential has pushed Governor Dayton and the Minnesota legislature to develop a Plan-B option that will better raise funds.
Late Thursday morning, Dayton's "secret plan" was revealed.
The plan-b option will pin a one-time warehouse stocking fee for cigarettes. If the tax hike is approved it would push tax on a pack of cigarettes to $2.52 per pack (same as Wisconsin) and is projected to raise $24.5 million this year to cover the void in the original funding plan.
According to Vice President of Public Affairs Lester Bagley, who joined KFAN's Paul Allen Thursday morning, the State's new money generating plan "will not impact the [Vikings'] revenue commitment."
"Electronic pull tabs have been slow to develop," Bagley told KFAN.
The State's new plan will involve a marketing campaign that will include the "Vikings brand and muscle behind it" in hopes to better generate the funds that the State of Minnesota committed to in 2012 when the stadium was approved.
More details will trickle out throughout this afternoon. Stay tuned to KFAN and KFAN.com for details as they become available.
Aj Mansour covers Minnesota Sports for KFAN.com. Feel free to leave comments and questions regarding this post in the space provided below. For Vikings updates and breaking Vikings news, follow Aj on Twitter. @AjKFAN