The New York Racing Association recently provided an update about the $455 million reconstruction of Belmont Park to Long Island Association Small and Mid-Sized Business Committee. Small businesses learned about procurement pipeline for the project, with AECOM Tishman as the general contractor

The project is expected to generate $1 billion in construction-related economic impact, creating 3,700 construction-related jobs. Racing and non-racing activities at the new facility are slated to generate $155 million in annual economic output.

Next year’s Belmont Stakes will once again be held at Saratoga Race Course, allowing for Belmont’s uninterrupted construction. The Breeders’ Cup, which attracts international tourism, has committed to returning to Belmont Park following the completion of construction.

Belmont’s new grandstand will be smaller, allowing for more modern amenities, green space, recreational opportunities for the community, and an all-weather track that is considered safer and extends the racing season.