The Preakness Stakes is a national treasure.
It attracts spectators to Baltimore from across the country to watch a premiere thoroughbred horse race. The equine spectacle generates handsome revenues for local businesses, provides employment for many, and advertises Baltimore’s eye-catching radiance.
But what about adversities?
Pimlico Race Course has been ailing for years, and unrealized plans to renovate and revitalize the historic track go back decades. Four years ago, Maryland’s legislature voted to spend $375 million to rebuild Pimlico and its sister track in Laurel, but the plan ran into problems and failed to get beyond home plate. Subsequent efforts to move it along also fell short. A recurring deficiency was failing to plan to jumpstart economic activity in Park Heights.
Last year, lawmakers authorized the creation of the Maryland Thoroughbred Racetrack Operating Authority to undertake what the legislature had previously fumbled, and develop a plan to “return the state of Maryland to a best-in-class location for Thoroughbred horse racing” by reimaging the infrastructure within budget and review current operations.
In January 2024 the authority released a report finding earlier proposals infeasible; the volume of horses could not be accommodated, and private operators could not earn a profit. Instead, the authority recommended that Maryland model its racing operations after those in New York, where the facilities are owned by the state and leased to a qualified nonprofit operator.
The Maryland legislature and Governor Wes Moore accepted the advice. An agreement was reached on the optimal path forward. It includes the creation of jobs and facilitation of year-round economic activity, a parking garage that benefits both the nearby hospital and the Park Heights community, and a hotel, new workforce housing and the potential for workforce development. The Baltimore Department of Housing and Community Development is pulling together master plans in the community. The state has been assured by the department that its plans will leave the Preakness at Pimlico undisturbed next year and beyond.
Governor Wes Moore has been captain of the ship throughout the protracted process. He knows the community needs a thriving racetrack in Park Heights. Horse racing is 25% of the state’s agricultural base. Its total direct and indirect economic impact is $3 billion, including about 28,000 jobs. Thoroughbred racing standing alone generates $600 million in economic activity. The time to strike is now when the weathervane points towards smooth sailing.
Trial and error give birth to success. Maryland and Baltimore City have passed through that learning process in remodeling the Preakness at Pimlico. Many are confident the cost was worth the price of admission. We will soon know.
Armstrong Williams (awilliams@baltsun.com; @arightside) is a political analyst, syndicated columnist and owner of the broadcasting company, Howard Stirk Holdings. He is also part owner of The Baltimore Sun.
