The American Horse Council Foundation announced it has commissioned the Innovation Group to update the 2017 National Economic Impact Study of the Horse Industry in the U.S. AHC President Julie Broadway said, “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. 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.”
Broadway added the research actually will be an entirely new study of the industry and its impact. “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,” she said. Data collection will begin in March 2017 and be completed in October 2017 Broadway added.
She stated the last study, completed in 2005, indicated the horse industry, including the racing, showing and recreation segments, had a $102 billion effect on the U.S. economy, involved 9.2 million horses and supported 1.4 million full-time jobs. The study was used by the industry to inform Congress and state legislators, the public and the media.
“Many organizations, including the American Quarter Horse Association, the National Thoroughbred Racing Association and the U.S. Equestrian Federation have already pledged their support” for funding the study, Broadway said. “We hope other organizations and individuals will pledge to support the study again now that they have seen its value on many levels.”
The Innovation Group Executive Vice President Thomas Zitt said, “The Innovation Group and its team members are honored to have been selected for this major benchmarking work. We are eager to collaborate with the AHC and industry leaders in producing a comprehensive study.”
