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.
“Belmont Park is an economic engine for Long Island and this significant transformation of the venue will result in new jobs, revenues, and economic activity,” Matt Cohen, president and chief executive of the LIA, said in a news release about the update. “The LIA applauds NYRA for their engagement of regional small businesses to ensure they are aware of the procurement timeline, as well as opportunities once the project is complete.”
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, committed to run its 2026 race at Belmont Park.
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. The grandstand at Belmont Park has been demolished and excavated, and the footing has been installed.
“The modernization of Belmont Park is incredibly important to the future of racing downstate, and NYRA will deliver a facility that existing fans and the next generation will be proud to have in Nassau County,” David O’Rourke, NYRA’s president and CEO, said in the news release.
“As the first ground-up racetrack construction in nearly 40 years, this important project will fuel Long Island’s economic engines, creating new jobs and new opportunities for local businesses,” Rob Blackman, AECOM Tishman’s executive vice president, said in the news release.
AECOM has a 30% minority and women-owned business commitment for the construction, with procurement opportunities throughout the project. NYRA’s bid solicitations are available here.