2006 Montgomery County, Maryland Horse Study. For more information on this study, visit http://tinyurl.com/y5xq3lec. A 2009 survey conducted by American Horse Publications found that the horse industry had an economic impact of about 300 billion dollars, based upon a US horse population of four million animals, and it generated 1.6 million full-time jobs. The racing sector drives an array of economic activity including spending on training, breeding, jockey fees, facilities, broadcasting services and wagering. Equine Economic Impact – Horse Economic Impact 450 thousand of these positions are full-time equivalent jobs, the rest are part-time and seasonal. Share with Us. However, the total economic impact of the horse industry in Minnesota is $1 billion with a creation of 21,039 jobs. 2 million people own horses. The total economic impact of the national horse industry was $102 billion, including all revenues made by businesses and all spending by horse owners, riders and other participants; The equine industry supported over 460,000 jobs directly and over 1.4 million jobs through its total impacts; and Add to cart Show Details. Contact us by phone (800) 874-9191, FAX (602) 992-8327 Expenses therefore exceed revenue 240%. For racing alone, expenses exceed annual revenue by $1.5 billion, the study says. The largest single contribution to the gross domestic product comes from Thoroughbred racing at $20.8 billion. Major market for expansion 22 Individuals’ horse-related expenditures were surveyed to determine economic impact. March 28, 2011 — The horse industry in Virginia has an annual economic impact of $1.2 billion, according to a study prepared by the University of Virginia's Weldon Cooper Center for Public Service and funded by the Virginia Horse Industry Board. The 2017 Economic Impact Study of the U.S. However, there are about 7.2 million horses in the U.S. identified by the American Horse Council (AHC) in 2017. Contact us for a no obligation quote or any equine economic questions! In Minnesota, about 680,000 households have horse enthusiasts, where about 29,000 own a horse. that is degrading to another person. Racing in Minnesota contributes 2,044 jobs and a $123 million value added to the economy. In this case, the original $3.5 billion economic contribution of the Texas equine industry leads to a total statewide economic output of $5.9 billion, including a $3.3 billion contribution to the state’s gross domestic product (GDP) and $2.1 billion in labor income, as well as 52,000 full- and part-time jobs. Kentucky’s equine industry had a total economic impact of almost $3 billion and generated 40,665 jobs last year, according to the 2012 Kentucky Equine Survey. "The equine industry's influence is felt in all parts of the state," said U.Va. These direct impacts drive a further $2.7 billion in added value to the economy and create more than 28,000 jobs from indirect and induced effects. Total Output to the New York Economy:$5.3 billion. 2014 Marion County, Florida Equine Economic Impact Study. The industry also employs around 1.74 million people, and is responsible for 7.2 million horses, with Texas, Florida and California having the highest horse populations. The total economic impact of the horse industry in the United States is $122 billion, creating 1.7 million jobs. They further looked at the economic impact in individual states including Minnesota. In terms of total effect on the U.S. gross domestic product, California leads the way at $6.97 billion a year, followed by Texas ($5.23 billion), Florida ($5.15 billion), Kentucky ($3.54 billion), and Louisiana ($2.45 billion). The horse industry contributes approximate ly $50 billion in direct economic impact to the U.S. economy, and has a direct employment impact of 988,394 jobs. Estimated number of horses in each of the 50 states, Texas (1 million), California (700,000) and Florida (500,000) are the leading horse states, 45 of 50 states have at least 20,000 horses. or anything. These activities drive spending on horse care, activity fees and equipment. The horse industry contributes $1 billion and over 15,000 jobs to the Minnesota economy. When indirect and induced spending are included, the industry’s economic impact reaches $102 billion. The Economic Impact of the Horse Industry on the United States: State breakouts. In the meantime, the American Horse Council (AHC) is polling those who work in the industry to learn how COVID-19 has affected their businesses. The industry has a $102 billion impact on the U.S.economy when the multiplier effect of spending by industry suppliers Including off-site spending of spectators would result in an even higher figure. The median household income of those individuals and families owning horses is around $X, with approximately 34% of the industry having a median household income of less than $50,000 and 28% of the horse owning population having an annual income of over $100,000. pt. As a result, the total economic impact of the horse industry in the U.S. is $122 billion and 1.7 million jobs. The fact that we now describe the economic activity surrounding the horse as an “industry” shows the progress we have made over the last 20 years, as well as reflecting the changing face of the agricultural and leisure markets in this time. The Economic Impact of the Horse Industry in the United States All these factors make Ocala one of only four major epicenters of thoroughbred breeding and training centers in the world. Toll Free – (800) 874-9191 The 2017 Economic Impact Study of the U.S. The United States Horse Industry is a large and economically diverse industry that is a key contributor to the overall fabric of the U.S. economy. While 30.5 percent of U.S. households have a horse enthusiast, only 1.3 percent own a horse. In America, the Equine Industry has a greater economic impact than motion pictures; in Australia, it contributes only 14% less than the livestock industry 21 The number of horse clubs in China has increased by 1500% in recent years, from 90 in 2010 to 1400 in 2017. Notifications from this discussion will be disabled. An email has been sent to with a link to confirm list signup. Horse Industry $ 80.00. High 58F. The economic impacts of individuals who own horses for non-business purposes are difficult to measure. The recreational segment accounts for $32 billion of the total economic impact, followed by the horse show segment at $28.8 billion and the racing segment at $26.1 billion. Add to cart Show Details. Del Mar, CA – (619) 798-6540 The U.S. horse industry has an economic impact of around $122 billion, which is $20 billion dollars more than the estimation made in the 2005 study. Competition requires a variety of goods and services including training, specialized equipment and feed, travel arrangements, facilities etc. 4] The economic impact of the Indiana horse industry. Of the total economic impacts reported, approximately $26.1 billion is generated from the racing segment, $28.8 billion from the showing segment, and $32.0 for the recreational segment. The industry provides about 700,000 jobs across all sectors. The 2005 study reported $5 million paid in state and local taxes by the racehorse industry. 1] The economic impact of the California horse industry. Additionally, the industry itself contributes $38 billion in direct wages, salaries, and benefits Farm Forum's Kali Holt interviews Trever Meier of Superior Bins. The other 29 percent includes individuals that either participate in horse activities or spectate at horse events. We'd love to hear eyewitness The American Horse Council Foundation (AHCF) has the answer: updating the Equine Industry Economic Impact Study in 2017! The horse industry pays approximately $1.9 billion in taxes on an annual basis to all levels of government. 2017 Economic Impact Study of the U.S. University of Minnesota Extension Livestock Communication Specialist, [Sponsored] An Interview with Trever Meier of Superior Bins. each comment to let us know of abusive posts. If you're interested in submitting a classified ad, click here. Equine Economic Impact – Horse Economic Impact The horse industry contributes approximately $39 billion in direct economic impact to the U.S. economy, and supports 1.4 million jobs on a full-time basis. The horse industry in the United States contributes $39 billion in direct economic impact to the U.S. economy and supports 1.4 million jobs on a full-time basis, according to a new study released today by the American Horse Council (AHC). The direct economic impact of the horse industry in Minnesota is $541 million with a creation of 15,113 jobs. (602) 992-1570 Published September, 2013. As a large, economically diverse industry, the United States horse industry contributes significantly to the American economy. The U.S. horse industry has an economic impact of around $122 billion, which is $20 billion dollars more than the estimation made in the 2005 study. The horse industry in the United States contributes $39 billion in direct economic impact to the U.S. economy and supports 1.4 million jobs on a Horses are most commonly used for recreational activities such as lessons and trail riding. 2016 Economic Impact of the Equine Industry in Massachusetts. The horse industry has a direct economic effect on the U.S.of $39 billion annually. 3] The economic impact of the Florida horse industry. There was an error processing your request. [pt. You have permission to edit this article. PLEASE TURN OFF YOUR CAPS LOCK. Thus, the horse industry adds great value to Minnesota’s economy. Low 31F. This industry is driven by the prime rural lands and an … COVID-19 Economics Challenge the Horse Industry From shutting down local horse shows to postponing the Olympic Games until 2021, the coronavirus pandemic … Horse Industry Generates $122 Billion Economic Impact. The U.S. horse industry directly contributes $50 billion to the economy and provides about 988,000 jobs. Mostly cloudy skies this morning will become partly cloudy this afternoon. ID-445-W Economic Impact of the Horse Racing and Breeding Industry to Indiana million for Indiana. Horse Ownership Household Surveys 144,985 Institutionally Owned and Amish Owned Horses 9,020 Total Utilized for Economic Impacts 154,005 The industry employs more than 700 thousand people directly. (Washington, D.C.: American Horse Council, 1996–97).. Mike Flynn, "Horse," Tulsa Magazine (September 1974). The industry has a $102 billion impact on the U.S.economy when the multiplier effect of spending by industry suppliers Including off-site spending … Horse owners and industry suppliers, racetracks and off-tracking betting operations, horse shows and other industry segments all generate discrete economic activity contributing to the vibrancy of the overall industry. However, the total economic impact of the horse industry in Minnesota … Additionally, Minnesota is home to two racetracks that host about 122 live race days. This industry is driven by the prime rural lands and an … Be Proactive. 2020 Horse Industry Directory – DIGITAL Version $ 60.00. Contact us by phone (800) 874-9191, FAX (602) 992-8327. or email below for more Equine Economic Impact – Horse Economic Impact information. The study also offers a comparison of revenue to expenses that supports a common belief in the horse industry. Many also spend their time volunteering and up to 14,000 Minnesota residents volunteer their time towards horse-related activities. This paper examines the economic impact of Virginia\'s horse industry using input-output analysis. The full reports for the horse industry’s economic impact in the U.S. and Minnesota may be purchased from the American Horse Council. The Economic Impact of the Horse Industry in the United States, 4 vols. An industry has ripple effects on a local economy and beyond based on the jobs it supports. Direct, indirect and induced economic impacts of the industry in U.S. The combined Kentucky equine industry economic impact generates $6.5 billion annually in cumulative direct, indirect and induced economic activity and 60,494 Kentucky jobs. Don't Threaten. The horse industry sustains approximately 1.4 million full-time equivalent jobs on an annual basis, with over 460,000 of those jobs created from the direct spending within the industry. The research was conducted by the American Horse Council (AHC) Federation in conjunction with The Innovation Group. When indirect and induced spending are included, the industry’s economic impact reaches $102 billion. Marion County is notably the Horse Capital of The World, and even as a state, Florida is ranked among the highest in terms of equine numbers. Keep it Clean. Winds E at 5 to 10 mph. FAX 2 – (480) 452-0593, 13880 N. Northsight Blvd., Building C #109, Copyright Allen Financial Insurance Group | The Equestrian Group 2018, Equine Economic Impact – Horse Economic Impact. The significance of the industry is reflected in the following bullets: The horse industry contributes approximately $39 billion in direct economic impacts to the U.S. economy on an annual basis. Many Minnesota horse owners take lessons (17 percent), manage barns (17 percent) and train horses (15 percent). An elaborate report was produced in 2019 comparing the state of the equine industry between 2005 and 2018 [Lord, R. The Equine Industry: Competing Beliefs, Changes, and Conflicts. Minnesota ranks 18th for the state with the greatest horse population. Threats of harming another The $122 billion equine industry is a growing segment of the U.S. economy, employing 1.74 million people, according to a recent economic impact study. David W. Freeman, "Demographics and Economic Impact of the Horse Racing Industry in … Two previous studies were completed in 1996 and 2005. The horse industry has a direct economic effect on the U.S.of $39 billion annually. Ownership and travel-related expenses are reported separately in Table 3 (right). or email below for more Equine Economic Impact – Horse Economic Impact information. Get the Farm Forum E-Edition delivered to your inbox a DAY EARLY!Plus get our most viewed classifieds, latest news, upcoming auctions and deals every Tuesday. “Never before has the impact of our industry been so dramatically demonstrated.”. Get an email notification whenever someone contributes to the discussion. The average is $1.7 billion in expenses over revenue. Similarly, household surveys of 143,000 horses in Minnesota indicated 41,000 were Quarter Horses and 20,000 were Thoroughbreds. Error! When considering indirect and induced spending, the horse industry annually generates approximately $102 billion dollars for the U.S. economy. Horse Industry found that the care, business and recreation surrounding the 7.2 million horses … The horse industry contributes approximately $39 billion in direct economic impact to the U.S. economy, and supports 1.4 million jobs on a full-time basis. The horse industry contributes approximately $50 billion in direct economic impact to the U.S. economy, and has a direct employment impact of 988,394 jobs. The direct economic impact of the horse industry in Minnesota is $541 million with a creation of 15,113 jobs. Contributions to the Gross Domestic Product (GDP), $102 billion via direct, indirect and induced spending, Number of Full-Time Equivalent (FTE) jobs produced. Horse Industry found that the care, business and recreation surrounding the 7.2 million horses in the country generated $79 billion in total salaries. Defining core businesses for the equine industry can be challenging because many businesses are directly and indirectly impacted. Phoenix, AZ – (Home Office) Hilton M. Briggs and Dinus M. Briggs, Modern Breeds of Livestock (4th ed. By Hannah Lochner The spending generated within the horse industry, and the subsequent spending between co-dependent industries contributes thousands of jobs and billions of dollars to the economy on an annual basis. The horse industry contributes approximately. ; New York: MacMillan Co., 1980). Horse breeders must react to socio-economic changes in the U.S. and the global economy by continually producing quality horses to sustain their business and branding status in their industry. The leading states for horse populations include: The two most popular breeds in the U.S., as well as Minnesota, are the Quarter Horse and Thoroughbred. Texas has the most horses with 978,822, followed by California (698,345), Florida (500,124), Oklahoma (326,134), and Kentucky (320,173). Impact of the Horse takes place Friday November 11th and Saturday November 12th at the Wasatch Event Center: 415 Southfield Rd, Heber City, UT 84032. To … Posted on March 17, 2018 by Press Release. Household surveys of about 7.1 million horses in the United States indicated about 2.1 million were Quarter Horses and 1.1 million were Thoroughbreds. When indirect and induced spending are included, the industry’s economic impact reaches $102 billion. As a result, recreation in Minnesota contributes 7,181 jobs and a $341 million value added to the economy. The U.S. is home to over 7.2 million horses. Fifteen breakout states account for more than 51% of the U.S. horse population. 2012 Kentucky Equine Survey Success! Total revenue from all segments is $1.17 billion, while expenses come in at $2.88 billion. The study was conducted by Deloitte LLP and completed in June 2005. Check out the economic impact of the equine industry in Florida. Be Nice. The horse industry impacts the American economy in greater measure than motion picture services, railroad transportation, furniture and fixture manufacturing and cigarettes. The study, which encompasses all breeds of horses, says there are about 9.2 million horses in the U.S. Bibliography. The industry has a $4 billion impact in Kentucky. FAX 1 – (602) 992-8327 [pt. WLKY’s "Racing in the Bluegrass" takes a behind-the-scenes look at thoroughbred breeding, sales, competition, tourism and jobs. 2 It should be noted this is not a census, but rather a population estimate for the purpose of estimating the economic impact of the industry. person will not be tolerated. Use the 'Report' link on A study prepared by the University of Virginia Weldon Cooper Center (WCC) for Public Service and funded by the Virginia Horse Industry Board found that the horse industry in Virginia has an annual economic impact of $1.2 billion. The horse industry contributes approximately $50 billion in direct economic impact to the U.S. economy, and has a direct employment impact of 988,394 jobs.