Horse Racing in New York Brings $3 Billion to the NYS Economy

Saratoga | Sarah Andrew

Horse racing in New York registered a $3-billion impact on the Empire State's economy and an employment impact of 19,785 in 2023, per results released from the American Horse Council's 2023 Economic Impact Study.

“It's impressive to see how much of an economic engine horse racing is in the state of New York,” said NYTHA President Tina Marie Bond. “Together with a total economic impact of $3 billion statewide, racing has added over 2,000 direct jobs in the past five years. Racing supports land preservation and green space across the state, and is a significant driver of tourism both in the Capital Region and on Long Island. With the Belmont Stakes Festival at Saratoga for 2024 and 2025, as well as a redeveloped Belmont Park on the horizon, racing will continue to boost local economies and provide jobs for years to come.”

“The findings from the American Horse Council's economic impact study for New York report that the breeding and racing industry is an invaluable asset to our state,” said NYTB President Dr. Scott Ahlschwede, D.V.M. “Our state-bred program has positioned itself as the leading regional program in the nation, and we look forward to continuing to work with our fellow stakeholders to ensure that the additional investment in breeding and racing in New York will result in added revenue for all areas across the state.”

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