$1.8 MILLION STATE INVESTMENT ANNOUNCED FOR LAKE PLACID HORSE SHOW FACILITIES

Funding Will Support Improvements to North Elba Showgrounds, a Major Economic Driver for the Adirondack Region

The Dormitory Authority of the State of New York (DASNY) today announced $1.8 million in state funding for improvements to the North Elba Showgrounds in Lake Placid, home to the internationally recognized Lake Placid and I Love New York Horse Shows.

Governor Kathy Hochul awarded the $1.8 million in support, which DASNY will administer. This funding builds on a previous $6 million state investment to replace the Long Building at the showgrounds and will support further improvements to the facility.

"I have such magical memories of visiting Lake Placid during my childhood, and that still holds true today. The region's natural beauty and many unique destinations make Lake Placid and the surrounding communities so special, which is why continued support for the North Elba Showgrounds is so important," Governor Hochul said. "The success of this facility attracts residents and visitors alike, which is vital for the North Country now and in the future."

The North Elba Showgrounds have hosted The Lake Placid and I Love New York Horse Shows for more than five decades. The events attract competitors and spectators from across North America and around the world, including riders who compete at the highest levels of equestrian sport.

The horse shows are also a major economic driver for the Adirondack region, generating $17.9 million in economic activity annually and supporting 164 jobs. Visitors spend $12.2 million on lodging, dining, retail and entertainment during the two-week event. The shows also generate $2.8 million in state and local tax revenue.

Previous state funding supported the complete replacement of the aging Long Building, a central facility used for spectator services, catering and event operations during the horse shows. The new facility will provide improved amenities, accessible features and flexible space that can also support year-round community programming, including Camp Placid, a youth summer program.

Facility assessments found that significant infrastructure improvements were needed for the showgrounds to continue attracting top competitors and maintaining its international standing in equestrian sport.

DASNY President and CEO Robert J. Rodriguez said, "Governor Hochul understands that investing in critical community infrastructure creates opportunities that extend far beyond the facilities themselves. This investment in the North Elba Showgrounds will help preserve an important economic and tourism asset for Lake Placid and the entire Adirondack region. DASNY is proud to partner with the Governor and the Town of North Elba to deliver improvements that will support the continued success of the Lake Placid and I Love New York Horse Shows and serve this community for years to come."

Town of North Elba Supervisor Rick Preston said, "On behalf of the Town of North Elba, I want to sincerely thank Governor Hochul for her advocacy, leadership, and continued commitment to our community. The $1.8 million will have a lasting impact on the continued success of the Horse Show Grounds and our region. We are sincerely grateful for the Governor's partnership and investment in North Elba. This funding is an important investment in our community, our tourism economy, and the future of the Horse Show Grounds."

The investment continues New York State's support for tourism infrastructure and economic development in the Adirondack region, helping major attractions and events continue to draw visitors, support jobs and generate economic activity for local communities.