{"id":38918,"date":"2023-08-07T14:54:41","date_gmt":"2023-08-07T18:54:41","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=38918"},"modified":"2023-08-07T14:54:41","modified_gmt":"2023-08-07T18:54:41","slug":"economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/","title":{"rendered":"Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area"},"content":{"rendered":"<figure id=\"attachment_38919\" aria-describedby=\"caption-attachment-38919\" style=\"width: 900px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-38919\" src=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg\" alt=\"\" width=\"900\" height=\"675\" srcset=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg 900w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h-300x225.jpg 300w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h-768x576.jpg 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><figcaption id=\"caption-attachment-38919\" class=\"wp-caption-text\">Officials attend a meeting where an IDA economic impact study was unveiled.<\/figcaption><\/figure>\n<p>The annual summer meet at historic Saratoga Race Course generates $371 million in economic activity and supports more than 2,900 jobs across the greater Capital Region, according to the findings of a new study by the Saratoga County Industrial Development Agency (SCIDA) highlighted today by the New York Racing Association.<\/p>\n<p>The report, which was released Monday during a news conference at the Saratoga Performing Arts Center, concluded that the overall economic impact generated by the summer meet has increased by 57 percent since 2014 across the nine-county Capital Region.<\/p>\n<p>The study, based on data from 2021, finds that Saratoga Race Course is responsible for contributing $7.3 million of tax revenue to New York state, nearly $2.4 million of tax revenue to Saratoga County and nearly $2.1 million to Saratoga Springs.<\/p>\n<p>In addition to Saratoga Race Course, the study commissioned by the SCIDA and performed by Camoin Associates analyzed the impact of Saratoga\u2019s major attractions including SPAC, Saratoga Casino Hotel and Saratoga National Historic Park. According to the findings, those four entities generated a total of $647 million in economic impact and 5,770 jobs.<\/p>\n<p>\u201cHorse racing is a powerful engine for the New York economy that supports families and communities in every corner of the state,\u201d said David O\u2019Rourke, NYRA president and CEO. \u201cNowhere is that more evident than here in Saratoga Springs and throughout Upstate New York, where the popularity and importance of Saratoga Race Course are at an all-time high.\u201d<\/p>\n<p><span class=\"\"><b><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span><\/b><\/span>The report focuses on the economic benefits within a nine-county region including Albany, Columbia, Greene, Montgomery, Rensselaer, Saratoga, Schenectady, Warren and Washington counties.<\/p>\n<p>The study\u2019s findings show that Saratoga Race Course generated $371,067,040 in annual economic impact from three primary sources: direct ($241,311,827); indirect ($51,656,531) and induced ($78,098,682).<\/p>\n<p>Those categories account for spending on goods and services by visitors and racing participants, on-site jobs, and spending at businesses that supply goods and services to Saratoga Race Course, thereby creating an economic ripple effect throughout the region.<\/p>\n<p>\u201cThe Saratoga County Industrial Development Agency commissioned this economic impact study to analyze the far-reaching effects of Saratoga County\u2019s major tourism drivers\u2014Saratoga Race Course, SPAC, Saratoga Casino Hotel, and the Saratoga National Historical Park,\u201d said Rod Sutton, IDA chairman, in a statement.<\/p>\n<p>\u201cThis study updates the economic data generated from prior studies reports in 2006, 2011 and 2015, which looked solely at the economic impact of Saratoga Race Course, and adds SPAC, the casino, and the battlefield. Recognizing their significant contributions to Saratoga County\u2019s economy, the IDA Board was supportive to include these cultural and heritage tourism institutions in this analysis.\u201d<\/p>\n<p>He said the study provides \u201ca comparative breakdown of economic impacts such as jobs, attendance, and spending. It will assist elected officials, business and non-profit leaders, and the public in understanding the tremendous economic significance of these important attractions that generate thousands of jobs and millions of dollars in revenue throughout Saratoga County.<\/p>\n<p>Sutton added, \u201cThe results of the economic analysis of these tourism sectors provide a positive forecast that indicates Saratoga County will continue to grow and thrive as one of Upstate New York\u2019s most desirable counties in which to live, visit, and do business for the foreseeable future\u201d<\/p>\n<p>The study also determined that Saratoga Race Course is responsible for generating 2,937 jobs in the region.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The annual summer meet at historic Saratoga Race Course generates $371 million in economic activity and supports more than 2,900 jobs across the greater Capital Region, according to the findings of a new study by the Saratoga County Industrial Development Agency (SCIDA) highlighted today by the New York Racing Association. The report, which was released [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":38919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-38918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-environment-development"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"The annual summer meet at historic Saratoga Race Course generates $371 million in economic activity and supports more than 2,900 jobs across the greater Capital Region, according to the findings of a new study by the Saratoga County Industrial Development Agency (SCIDA) highlighted today by the New York Racing Association. The report, which was released [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Saratoga Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2023-08-07T18:54:41+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"900\" \/>\r\n\t<meta property=\"og:image:height\" content=\"675\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Jake Van Ness\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Van Ness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/\",\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/\",\"name\":\"Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area - Saratoga Business Journal\",\"isPartOf\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg\",\"datePublished\":\"2023-08-07T18:54:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#primaryimage\",\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg\",\"contentUrl\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg\",\"width\":900,\"height\":675,\"caption\":\"Officials attend a meeting where an IDA economic impact study was unveiled.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#website\",\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/\",\"name\":\"Saratoga Business Journal\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\",\"name\":\"Jake Van Ness\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0d74f7533bd2ebb3908a187893d5eafbf1ee7752b11715c976372134cbea918d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0d74f7533bd2ebb3908a187893d5eafbf1ee7752b11715c976372134cbea918d?s=96&d=mm&r=g\",\"caption\":\"Jake Van Ness\"},\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/author\/jakev\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area - Saratoga Business Journal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/","og_locale":"en_US","og_type":"article","og_title":"Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area - Saratoga Business Journal","og_description":"The annual summer meet at historic Saratoga Race Course generates $371 million in economic activity and supports more than 2,900 jobs across the greater Capital Region, according to the findings of a new study by the Saratoga County Industrial Development Agency (SCIDA) highlighted today by the New York Racing Association. The report, which was released [&hellip;]","og_url":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/","og_site_name":"Saratoga Business Journal","article_published_time":"2023-08-07T18:54:41+00:00","og_image":[{"width":900,"height":675,"url":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg","type":"image\/jpeg"}],"author":"Jake Van Ness","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jake Van Ness","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/","url":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/","name":"Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area - Saratoga Business Journal","isPartOf":{"@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#primaryimage"},"image":{"@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#primaryimage"},"thumbnailUrl":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg","datePublished":"2023-08-07T18:54:41+00:00","author":{"@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86"},"breadcrumb":{"@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#primaryimage","url":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg","contentUrl":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/08\/race-track-eco-impact-h.jpg","width":900,"height":675,"caption":"Officials attend a meeting where an IDA economic impact study was unveiled."},{"@type":"BreadcrumbList","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2023\/08\/economic-impact-study-says-saratoga-race-course-brings-in-3-7m-annually-to-area\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/"},{"@type":"ListItem","position":2,"name":"Economic Impact Study Says Saratoga Race Course brings in $3.7M Annually To Area"}]},{"@type":"WebSite","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#website","url":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/","name":"Saratoga Business Journal","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86","name":"Jake Van Ness","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0d74f7533bd2ebb3908a187893d5eafbf1ee7752b11715c976372134cbea918d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0d74f7533bd2ebb3908a187893d5eafbf1ee7752b11715c976372134cbea918d?s=96&d=mm&r=g","caption":"Jake Van Ness"},"url":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/author\/jakev\/"}]}},"_links":{"self":[{"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/posts\/38918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/users\/89"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/comments?post=38918"}],"version-history":[{"count":1,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/posts\/38918\/revisions"}],"predecessor-version":[{"id":38920,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/posts\/38918\/revisions\/38920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/media\/38919"}],"wp:attachment":[{"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/media?parent=38918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/categories?post=38918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/tags?post=38918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}