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 and 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 run its 2026 race at Belmont Park.
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.”
“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,” O’Rourke said.
“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 AECOM Tishman Executive Vice President 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 … [We will] 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.