We support the development of a world-class multi-discipline equestrian facility and a 10,000 seat sports and event stadium at the former Grumman site AKA EpCal Center in Riverhead, NY. International Polo Organization (IPO) will create an Equestrian Village grounded by a 10,000 seat stadium, a surround hotel, spa, retail spaces, restaurants, cafes, gardens, riding trails, steeplechase course, polo fields, jumping arenas, dressage rings, and stables. The equestrian events are only a part of the overall activities at the Village.
The stadium will be used in the off-season for local events, concerts, trade shows, conventions, and other sports including soccer and lacrosse. Neuss Fund and IPO do not need financing, bank loans or outside investors. They have offered $38MM to Riverhead Town. They have offered to give discounted tickets, parking, memberships to the stadium for events, restaurants and shopping for residents of Riverhead.
Most importantly, IPO is not asking for any IDA tax breaks or incentives. They are open to profit-sharing with the Town or a Gate Tax payable to the Town. There is no negative burden on the school districts at all.
The Horse Park is a completely green, eco-friendly project that will work in concert with the DEC and the local environmental groups for a clean, sustainable habitat.
The project will create a variety of seasonal and year-round jobs that range from labor to management level positions.
There will be an Equine Veterinary Clinic and Surgical Center offering horses and large animals on the East End the very best in state-of-the-art vet technology and care. There will be a Sports Rehabilitation & Therapy Center within the spa.
The American Horse Council in Washington, D.C. and the private accounting firm of Deloitte conducted a report on the Economic Impact of the New York State Horse Industry. Total amount of revenue generated exclusively from horse sports for the State of New York is $2.4 billion a year, of which $418 million is produced from Polo and $400 million from Show Jumping. In annual taxes, the industry generates $124 million of which $88 million is paid to the state and $13 million to local government.
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