NY State Fair sees financial boost, yet taxpayers still pay part of the cost

Strong Financial Performance for New York State Fair

The New York State Fair concluded its most recent fiscal year with the best financial performance in over a decade. The fair ended the year with a balance of $10.6 million, which is $4 million more than the previous year. This marked a significant improvement compared to other years in the past ten years. Additionally, the fair's revenues versus expenses for the 2024-25 fiscal year resulted in a surplus of $4.4 million, which was higher than in recent years.

This surplus came from $22.6 million in revenues and $18.2 million in expenses. However, there are some important considerations that should be taken into account. The end-of-year balance was partly built on a $6.2 million balance carried over from the previous year. Furthermore, the net surplus would not have occurred without a $5.2 million subsidy from state taxpayers. Without this funding, the fair would have faced a loss of $1 million.

These figures were included in the latest report from the New York State Fair Enterprise Fund. The State Fair is part of the Agriculture & Markets Department. Its fiscal year runs from April 1 to March 31, aligning with the state budget cycle.

The Enterprise Fund encompasses all revenues and expenses for the year, covering both the fair itself and year-round events and operations. It does not include large capital projects such as new buildings or major renovations, which are funded separately through the state budget.

A decade ago, the fair’s annual operating budget typically broke even or generated a small surplus for the following year. At that time, any additional state aid was usually less than $100,000. However, in the past decade, the fair has increasingly relied on larger subsidies from state taxpayers, reaching over $7 million annually from 2021-22 through 2023-24. The $5.2 million provided last year represented a notable decrease.

Jola Szubielski, spokesperson for the Agriculture & Markets department, noted that the state does not have a specific figure for potential state contributions to the operating budget for this year. While it's still early to predict the outcome for this year's fair, fair director Julie LaFave mentioned that "things are tracking very well." This is her second year as director, following one year as the fair’s operations director.

LaFave highlighted two positive signs: increased advance sales for tickets to the Wade Shows midway rides and a recent one-day "flash" sale that generated a record 17,000 purchases. Additionally, the fair has leased most of its available concession space, including spots that had been empty in recent years.

Despite not reaching the 1 million attendance mark since the year before the pandemic, which canceled the 2020 fair, the 2024 total attendance was 868,745. LaFave attributed the drop in attendance to factors beyond their control, such as weather conditions. She emphasized that the focus is on ensuring a positive experience for attendees rather than just the number of people.

Affordability is also a key consideration for the fair. LaFave stated that the fair must remain accessible for families on a budget. Across the country, attendance at state fairs and similar events appears to be recovering after the pandemic, according to David Grindle, CEO of the International Association of Fairs and Expos.

Grindle noted that fairs are doing quite well, with people appreciating the opportunity to gather again. There is growing interest in local events, with many preferring to stay close to home. He praised the New York State Fair for maintaining its traditions while embracing new ideas, which he believes contributes to its success.

Some highlights from the most recent financial report include:

Revenues

• Gates and Admissions: Increased from $3.3 million in 2023-24 to $4.1 million in 2024-25. This rise was likely due to an increase in basic ticket prices from $8 to $10. There is no price increase for this year.
• Parking Revenues: Rose from $1.7 million in 2023 to $1.9 million in 2024. The price per vehicle increased from $10 to $12, but there will be no increase this year.

Expenses

• Personal Service Costs (Payroll): Decreased from $20.6 million in 2023 to $18.2 million in 2024.
• Contracted Services (Maintenance and Operations): Dropped from $7.7 million in 2023 to $6.4 million in 2024.
• Fair Time Entertainment: Slightly decreased from $3.7 million in 2023 to $3.2 million in 2024. Despite this, the concert lineup drew large crowds, including three of the top attendances in fair history.

The 2025 New York State Fair is scheduled to run from Wednesday, August 20, to Monday, September 1 (Labor Day).