Long Island Association Small and Mid-Sized Business Committee Hosts New York Racing Association for an update on the $455 million modernization of Belmont Park

 
Melville, NY –The Long Island Association (LIA)’s Small and Mid-Sized Business Committee recently hosted the New York Racing Association (NYRA) for an update on the $455 million transformation of Belmont Park from the CEO & President of NYRA, David O’Rourke, and the general contractor for the project, AECOM Tishman. The LIA advocated for New York State to provide the loan that would allow NYRA to engage in this project, which is the largest of its kind in the entire world focused on horse racing. NYRA and AECOM Tishman also discussed at the LIA event how small businesses can become part of the procurement pipeline for the mega project.
 
Belmont Park opened in 1905 and was last renovated in 1968, and is home to the world-famous Belmont Stakes, the final leg of the “Triple Crown.” The 2024 Belmont Stakes was held at Saratoga Race Course and the 2025 race will also be held there to allow for the uninterrupted construction of a new and re-imagined Belmont Park. The Breeders’ Cup, a year-end championship for North American Thoroughbred racing that attracts international tourism, has committed to returning to Belmont Park following the completion of construction.

The new grandstand at Belmont Park will be significantly smaller to allow for more modern amenities, green space, and recreational opportunities for families and the local community, as well as an all-weather track that is safer and extends the racing season. In terms of the construction progress, the grandstand at Belmont Park has been demolished and excavated and the footing has been installed.
 
Matt Cohen, President & CEO of the Long Island Association, said, “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. 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.” 
 
David O’Rourke, CEO & President of the New York Racing Authority, said, “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. We thank Matt Cohen and the Long Island Association membership for enthusiastically supporting the development of a new and reimagined Belmont Park.”
 
“AECOM Tishman is proud to play a role in reconstructing and reimagining the iconic Belmont Park, providing a one-of-a-kind campus that significantly improves the racing experience for generations of New Yorkers with a five-story grandstand, five times more green space and a host of state-of-the-art amenities including a new clubhouse and a stunning rooftop terrace,” said Rob Blackman, Executive Vice President, AECOM Tishman,” 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, and we are honored to work with Governor Kathy Hochul, Chairman of New York Racing Association Marc Holiday, and the New York Racing Association to transform this facility into a world-class sports and entertainment destination that reinforces its position as the international capital of horse racing.”
 
The Belmont Park project will generate $1 billion in construction-related economic impact and create 3,700 construction-related jobs, and racing and non-racing activities at the new facility will generate $155 million in annual economic output. AECOM has a 30% minority and women-owned business commitment for the construction, and there will be procurement opportunities throughout the duration of the project. All of NYRA’s bid solicitations can be found on their dedicated webpage.
 
Katherine Heaviside, LIA Board Member, Committee Co-Chair, and President of Epoch 5 Public Relations said, “The LIA has advocated for the project at Belmont Park because of the significant economic benefits including new jobs and supply chain opportunities for small businesses, and we thank NYRA and AECOM Tishman for their presentations.”
 
Ernie Canadeo, LIA Board Member, Committee Co-Chair, and President & CEO of EGC Group, said, “The LIA Small and Mid-Sized Business Committee works to ensure that our region’s small businesses are aware of economic development projects that can support their growth and also have a transformative impact on our region like the Belmont Park project.”
 
Crisler Quick, LIA Board Member, Committee Co-Vice Chair, and President of the Finance Department, said, “The majority of businesses on Long Island are small businesses, and large projects like the one at Belmont Park can provide game-changing opportunities for their growth.”
 
Luis Vazquez, LIA Board Member, Committee Co-Vice Chair, and President of the Long Island Hispanic Chamber of Commerce, said, “Events like the one with NYRA are critical so our region’s Hispanic and minority small businesses can communicate directly and build relationships with entities managing projects that could provide them with opportunities to expand their businesses.”
 
The LIA’s Small and Mid-Sized Business Committee holds regular roundtable discussions to provide information important to the growth of Long Island’s small business community and a forum for them to network and develop relationships. In 2022, the LIA launched a Small Business Support Program in collaboration with the Long Island Hispanic Chamber of Commerce and Long Island African American Chamber of Commerce to support the expansion of Long Island’s small enterprises, which comprise the majority of businesses on Long Island, and recently administered the L.O.C.A.L. Small Business Grants program (Lifting Our Community businesses Across Long Island) funded by Optimum Business.

About the Long Island Association
The Long Island Association (LIA) is the region’s leading non-profit and non-partisan business organization since 1926 and amplifies the voice of the business community. The LIA works to ensure the region’s economic vitality.
Long Island’s future is our business. www.longislandassociation.org