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SARATOGA SPRINGS, N.Y. -- The horses have come and gone, but city leaders are still expecting crowds in Saratoga Springs this weekend for the annual Food and Wine Festival.

Back for its 12th year in the Spa City, the festival was formally kicked off with a press conference Friday morning. The festival, which features fine foods and wines, with a heavy emphasis on Italian cuisine, is a fundraiser for classical program and education at SPAC.

City officials believe events like this are essential to attracting crowds outside of racing season.

"It really translates into a year round economy that really promotes the city, but also makes us sustainable and lessens the tax burden on our residents," said Saratoga Springs Mayor Scott Johnson.

One of this year's sponsors is Italian car manufacturer Ferrari. Friday's press conference was followed by a local road tour featuring more than a dozen of the high priced sports cars.