ELMONT, N.Y. (CBSNewYork) — Gov. Andrew Cuomo says a new train station will help commuters and boost business near Belmont Park.

The planned Long Island Rail Road station in Elmont will be the first year-round station at Belmont Park in 50 years.

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It’s part of the Belmont Park Redevelopment Project, which includes a new arena, hotel and retail village. Officials say it will generate millions of dollars.

Gov. Andrew Cuomo announced plans for a new LIRR station in Elmont on July 8, 2019. (Rendering Credit: Gov. Andrew Cuomo’s Office)

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“The Belmont project will help drive the region’s economy forward while building the Islanders a state-of-the-art facility at home on Long Island, creating thousands of jobs and hundreds of millions of dollars in economic output along the way,” Cuomo said in a release. “Now with the addition of the first full-time LIRR train station in almost 50 years, we will provide millions of visitors and fans a fast and affordable way to get there and continue New York’s nation-leading investments in 21st century transportation infrastructure.”

The new station will be located between the Queens Village and Bellerose stations on the LIRR’s Main Line, and it will provide direct service to Belmont Park from both the east and west.

Officials say the new station will not stop plans for upgrades to the existing LIRR Belmont spur.

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The new station and the upgrades are expected to cost about $105 million. According to a release, the arena developers will pay for $97 million and the state will invest $8 million.