Kentucky’s equine industry has $3 billion impact on state

BrownHorsePortrait_blogIt’s no secret that the horse industry is big business in Kentucky, but phase II results from the 2012 Kentucky Equine Survey show just significant its impact is.

Last year, the state’s equine industry had an economic impact of nearly $3 billion with a tax contribution of roughly $134 million. The industry also was responsible for 40,665 jobs, according to the University of Kentucky’s College of Agriculture, Food and Environment.

Horse breeding employs the most people in the industry at 16, 198 and has an output of $710 million. It has an additional $333 million value-added impact. However, horse racing had the highest output at $1.28 billion (6,251 employed and $601 million in value added). Total impact was measured by the output, which used estimated revenues by the sale of equine industry goods and related services. Value-added measures profitability and new income paid to workers.

“The data from this study will benefit the state in many ways. We have already made use of the results at two regional horsemen’s caucuses held in areas with identified concentrations of equine populations. We are looking forward to at least three additional regional horsemen’s caucuses based on this data in 2014,” said Anna Zinkhon, Kentucky Horse Council Board president, in a statement.

Initial results from the survey were released in January and focused on the state’s asset and equine inventory. For example, it found Kentucky has 242,000 horses and the total value of equine and equine-related assets tops $23 billion. The survey was a comprehensive look at all breeds of horses, ponies, mules and donkeys in Kentucky and was the most in-depth study of its kind since the 1970s.

Find out more about the 2012 Kentucky Equine Survey here.

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