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Osaka city budgets for IR and Yumeshima development expenses

Osaka city has released its FY2019 budget proposal in which a total of JPY163 million (about $1.5 million) is earmarked for direct IR-related expenses. This part of the budget covers the costs for IR operator selection, application for a license to the national government, the holding of public hearings, and programs to combat gambling addiction.

These costs are not inclusive of the nearly JPY5.8 billion (about $52 million) that will be devoted to Yumeshima and the surrounding areas for land and infrastructure development, which benefits both the IR project as well as the 2025 World Expo.

Over the course of the next seven fiscal years, the total expense of Yumeshima development to the Osaka city coffers is expected to rise to about JPY95 billion (about $860 million).

The majority of these funds will go toward the extension of the Osaka Metro Chuo Line to Yumeshima and the construction of the new station, which are projected to cost local taxpayers JPY54 billion (about $490 million) over the seven-year period.

Some of this financial burden may later be shifted to the IR operators and other beneficiaries of the Chuo Line’s extension.

The overall Osaka city FY2019 budget plan comes to more than JPY1.83 trillion (about $16.7 billion), which is a 3.3 percent rise over the FY2018 figure.

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