"We've been planning for this for a while."

Governor Kathy Hochul making an official Wednesday. The 2Belmont Stakes will run at Saratoga with 3extensive 4renovations at Belmont Park expected to 5spill into next year's racing season. 

"Just very, very excited for this opportunity. We can't wait." 

Business leaders around town say preparations are already 6underway, and their phones are 7ringing off the hook. 

"We've been fielding interest about these dates for quite some time. So had a list of some guests that have been ready and 8waiting in the wings for the official announcement." 

The Belmont Stakes Racing Festival 9kicks off Thursday, June 6th. The four-day event will offer 23 10stakes races, featuring some of the best 11thoroughbreds in the world, with purses totaling $9.7 million. 

"The reality is this is going to have an 12economic impact across the entire region." 

The New York Racing Association reported an attendance of more than 48,000 people at the Belmont Stakes this year. The average daily attendance at Saratoga was about 27,600. 

"We don't have enough hotel space here in the city, and so people are going to be staying from Albany to Clifton Park to Malta to Moreau to Glens Falls, Lake George and everywhere in between. And where people stay is where they spend money."

While the extent of this economic 13boost is hard to 14grasp, 15NYRA officials say this.

"Certainly in the tens of millions when you think about national, international tourists, hotel 16occupancy, bars and restaurants to small businesses downtown. It should be the best summer of all time for businesses in Saratoga Springs."