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Economic Impact
Horse sports
are growing across the United States, as are the number of first class
competitive venues. Many states and regions understand the significant economic
impact equestrian centers can have on their communities. More than half of the
states in the U.S. already have horse parks or large equestrian centers.
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Kentucky Horse Park
Annual tax
revenue:
$251 million |
Palm Beach
International
Equestrian Center
Annual
revenue:
$50-80 million |
Carolina Horse Park
Annual
estimated revenue:
$13 million |
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Sports events
have a large, positive economic impact on a community. A horse show or equine
event attracts non-residents who spend money on lodging, food, retail goods,
entertainment and other recreational activities. CEPEC will provide a
substancial stream of revenue to the aleady thriving tourism industry of Sonoma
County.
A study conducted by the Department
of Economics at Sonoma State demonstrated the significant impact the horse
industry have on the its economy (see chart). |
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| Show participants spend
money on entry fees, hotels, food, apparel, and goods and services (including,
stabling, supplies, tack, bedding, farrier, and veterinary services).
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Internationally, horses are a big
business:
- A World Cup event typically brings $150
million to a region. The 2006 World Equestrian Games (WEG) in Aachen Germany
brought in $311 million. The 2010 World Equestrian Games in Kentucky generated
$205 million for the county.
- In Australia, the equine industry
contributes approximately twice as much to the GDP as other sports in Australia
combined. The horse industry contribution to GDP is over $6.3
Billion.
- In 2010 China announced plans to develop a
823 acre Horse City in Tianjin. Its plans include the training of 8,000
equestrian professionals, breeding 1,000 stallions, manufacturer of horse
feeds, horse auctions, international and domestic horse races, promote and
impart equine culture and knowledge to youths, provide tourism services, and
protect equine well being and interests. It will include an equestrian college,
equine hospital, quarantine centre, luxury hotels, a clubhouse, commercial
offices, and residential facilities. It is estimated that the project will pay
hundreds of millions of taxes and profits to the State within five years,
provide employment for 10,000, and develop a horse industry economy that will
establish production franchise of standard scales across China. Tianjin Horse
City has filed its application to the Chinese Equestrian Association for the
establishment of a national equestrian sports and horsing racing training base.
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