NEW YORK – A labor contract agreement between Local 3 of the International Brotherhood of Electric Workers (IBEW) and the New York Racing Association (NYRA) will help ensure the Belmont Stakes can be held this weekend. 

"I am pleased that by coming together, NYRA and IBEW Local 3 have been able to forge a labor contract agreement that helps allow the much-anticipated Belmont Stakes to be held this weekend," Governor Andrew Cuomo said. "With the potential for the nation's first Triple Crown in more than three decades, this year's Belmont Stakes holds particular excitement for horse racing fans here in New York and across the globe. I applaud the negotiating units on both sides for their hard work and commitment in reaching an agreement."

NYRA President and COO Ellen McClain said, "We are pleased to announce that after several days of intense negotiations, The New York Racing Association, Inc (NYEA) and IBEW Local 3 have come to an agreement for the maintenance and assistant starters bargaining units. Now, together, we can focus exclusively on this Saturday's Belmont Stakes and I'll Have Another's historic attempt to become the first Triple Crown champion since Affirmed in 1978."

The agreement addresses all major economic issues, including shift schedules, benefits for active employees, as well as pension and retiree medical benefits. This extends NYRA's contract with IBEW Local 3 through February 28, 2014.