03/06/2015 3:49PM

Study: Saratoga meet has $237M impact on region


The annual summer meet at Saratoga Race Course continues to be a boon to the New York Capital region, generating more than $237 million in economic activity and approximately 2,600 jobs, according to a study released Friday by the Saratoga County Industrial Development Agency.

The study, conducted by Camoin Associates, shows that the 2014 Saratoga meet generated 2,588 jobs, $101 million in wages and earnings, and $237 million in sales (economic output) while contributing $6.8 million to local government revenue – $3.1 million specifically to Saratoga County – and $7.4 million in revenue for New York state.

The study concludes that the economic rewards for a nine-county territory in the region from the operation of Saratoga have increased by 9 percent since 2011, the last time a study was commissioned.

“This revised impact study demonstrates unequivocally that the economic benefits traced directly to the operation of Saratoga Race Course continue to grow at a steady pace,” NYRA president and chief executive Chris Kay said in a press release. “As someone who has spent much of his career in the tourism industry, I can attest to the fact that most municipalities and regions would envy for an attraction that yields these type of economic rewards.”

In 2010, Saratoga expanded from a 36-day meet to a 40-day meet, with racing conduced six days a week for six weeks after an opening four-day race week.

There had been serious discussions about changing the schedule this summer to run the same days over eight weeks instead of seven, but that plan got scuttled. This year’s Saratoga meet runs from July 24 through Sept. 7.

russell More than 1 year ago
im not an economist but its probably more. Real estate went thru the roof in certain areas last 5 years. Especially on the other side on Northway 14. A new and very nice area. I go every year and the resturants that stink are crowded and the good ones and bars are gold mines.
Larry Kaufman More than 1 year ago
chris kay do not act like you have anything to do with saratoga's success, not even you and NYRA can't hurt it