Horse Industry Economic Impact Study to Be Updated Next Year
The American Horse Council Foundation will conduct the study in 2017.
October 25, 2016
American Horse Council
The American Horse Council Foundation (AHCF) has retained The Innovation Group to update the 2017 National Economic Impact Study of the Horse Industry in the US.
“We are very pleased to have The Innovation Group undertake this study. They have done numerous economic studies in the gaming, recreation and leisure segments of the U.S. economy and have extensive experience in the horse industry,” said AHC president Julie Broadway. “Their proposal suggested several avenues to approach the industry to get as much information and as broad a sampling as possible. We hope that the industry participates and responds, as we are confident the study results will be extremely valuable.”
“The Innovation Group and its team members are honored to have been selected for this major benchmarking work,” said Thomas Zitt, executive vice president of The Innovation Group. “We are eager to collaborate with the AHC and industry leaders in producing a comprehensive study.”
“Even though we say ‘update,' this will truly be a complete re-study of the entire industry and its impact,” said Broadway. “Especially since we will now be including demographic information of 18 years and under; as well as expanding to include equine welfare and therapeutic organizations. We anticipate data collection to start in March of 2017, with a completion date of October 2017.”
The 2005 National Economic Study established that the horse industry in all its segments, including racing, showing, and recreation, had a $102 billion effect on the US economy, involved 9.2 million horses, and supported 1.4 million full-time jobs. The study has been extremely helpful to the industry's efforts in Congress and state legislatures and in documenting its size and diversity to the public, press and media.
The 1996 and '05 National Studies were accomplished with the economic support and participation of many organizations and individuals in the horse industry. “Many organizations, including the American Quarter Horse Association, the National Thoroughbred Racing Association, and the U.S. Equestrian Federation, have already pledged their support,” noted Broadway. “We hope other organizations and individuals will pledge to support the study again now that they have seen its value on many levels.”
The AHC is currently seeking pledges to begin work on the study. If you would like to contribute to the update of the national study, you can make a tax-deductible contribution to the American Horse Council Foundation here. For some Frequently Asked Questions about the study, please visit the AHC website here. Please contact the AHC at email@example.com or 202-296-4031 if you have any questions.
AQHA News and information is a service of the American Quarter Horse Association. For more news and information, follow @AQHA Racing on Twitter, "like" Q-Racing on Facebook, and visit www.aqharacing.com.