Horse Industry Contributes $39 billion to US Economy
Horse Business is big business. A recent study by the horse Counsel reveals that our industry contributes $39 billion to the US economy and supports 1.4 million full time jobs. When indirect spending is considered, the total is closer to $102 billion. The following conclusions have been made:
The horse industry is both large and economically
diverse, as well as a key contributor to the overall
fabric of the U.S. economy;
Horse owners and industry suppliers, racetracks,
and off-track betting operations, horse shows and
other industry segments all generate discrete
economic activity contributing to the vibrancy of the
overall industry;
. Of the total economic impacts reported,
approximately $32.0 billion is generated from the
recreational segment; $28.8 billion from the
showing segment and $26.1 billion is generated
from the racing segment.
“This study paints a portrait of an industry that operates in
every corner of the country and contributes mightily to the
American economy and culture,” said Jay Hickey, President
of the AHC. “Never before has the impact of our industry
been so dramatically demonstrated.”
“Millions of Americans have a personal commitment to the
horse industry, from the grassroots to those who compete
nationally and internationally,” said David O’Connor
President of the United States Equestrian Federation and
an Individual Olympic Gold Medalist. “Some are kids riding
their backyard horse for the sheer joy of it, some support
their family working for an equine business, and others are
breeders and competitors at the highest levels. Together
they contribute billions to the economic health of our
country through their shared passion for the great
American icon, the horse.”
“We know horses have a special place in America’s history
and culture. This study clearly demonstrates the horse
industry’s significant role in America’s economy too,” said
Congressman Don Sherwood (R-Pennsylvania), a breeder
of draft horses. “When you have a tough week in
Congress, there is nothing like going home, cleaning a
stall, and grooming a broodmare. The old saying that there
is something about the outside of a horse that is good for
the inside of a man is so true.”