Hochul cuts the ribbon on the rebuilt Belmont Park: $455M state loan approved in the 2023 budget, 3,700 union construction jobs, NYRA to repay from Resorts World casino revenue; year-round racing replaces the shuttered Aqueduct

Hochul led the Sept. 18 opening-day ribbon-cutting at the new Belmont Park in Nassau County. The 2023 budget deal she negotiated with the Legislature provided a $455M state loan for the rebuild, to be repaid by NYRA from its share of Resorts World NYC casino revenue. Hochul said the venue will generate over $155M in annual economic impact and sustain thousands of permanent jobs on Long Island; NYRA says 3,700 union workers built it in about 2.5 years. Belmont now hosts year-round racing (except the Saratoga meet), replacing the closed Aqueduct in Queens, whose site is the subject of an ongoing housing debate. Upper grandstand floors finish next spring; Breeders' Cup is scheduled there for fall 2027. Governor's economic-impact and jobs figures are the administration's own projections.