Study Reveals Nearly $40 Billion Impact on U.S. Economy
Reprinted from the Pintabian Ink Spot, Vol. 11, No. 2
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 June 28, 2005 by the American Horse Council (AHC). When indirect and induced spending are included, the industry's economic impact reaches $102 billion. The study also estimates the horse population in this country has reached over 9.2 million.
The study, conducted by Deloitte Consulting, LLC over the last year, was commissioned by the American Horse Council Foundation with major funding support from the American Quarter Horse Association, The Jockey Club, the National Thoroughbred Racing Association and Breeders Cup Ltd, Keeneland Association, American Paint Horse Association, American Association of Equine Practitioners, U.S. Trotting Association, Thoroughbred Owners and Breeders Association and the United States Equestrian Federation.
"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 their country through their shared passion for the great American icon, the horse."
Some of the key industry statistics and economic indicators reflected in the study include: the estimated number of horses in the U.S., the estimated number of horses by activity, the estimated number of horses by breed, the estimated number of horses in each of the 50 states, the number of people participating in the industry, as well as the direct and indirect economic impacts of the industry on U.S. and individual state economies. In conducting the study, Deloitte contacted 400,000 horse owners and other industry participants involved in all segments of the horse industry, including people involved in both the recreational and commercial spheres. The report is available for a fee by contacting the American Horse Council at www.horsecouncil.org.
Reprinted from the Pintabian Ink Spot, Vol. 11, No. 2
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 June 28, 2005 by the American Horse Council (AHC). When indirect and induced spending are included, the industry's economic impact reaches $102 billion. The study also estimates the horse population in this country has reached over 9.2 million.
The study, conducted by Deloitte Consulting, LLC over the last year, was commissioned by the American Horse Council Foundation with major funding support from the American Quarter Horse Association, The Jockey Club, the National Thoroughbred Racing Association and Breeders Cup Ltd, Keeneland Association, American Paint Horse Association, American Association of Equine Practitioners, U.S. Trotting Association, Thoroughbred Owners and Breeders Association and the United States Equestrian Federation.
"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 their country through their shared passion for the great American icon, the horse."
Some of the key industry statistics and economic indicators reflected in the study include: the estimated number of horses in the U.S., the estimated number of horses by activity, the estimated number of horses by breed, the estimated number of horses in each of the 50 states, the number of people participating in the industry, as well as the direct and indirect economic impacts of the industry on U.S. and individual state economies. In conducting the study, Deloitte contacted 400,000 horse owners and other industry participants involved in all segments of the horse industry, including people involved in both the recreational and commercial spheres. The report is available for a fee by contacting the American Horse Council at www.horsecouncil.org.