The U.S. horse industry encompasses all horse-related activities, including farming and sport and recreation, and adds $122 billion to the U.S. economy. According to the American Horse Council
American Horse Council
The American Horse Council is a trade organization in Washington, DC representing the horse industry. The organization formed in 1969, with a committee that became the Coalition of State Horse Councils forming in 1970, now having 43 states participating. American Horse Council …
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What is the economic impact of the horse industry?
The horse industry produces goods and services of $50 billion as a direct economic impact on the U.S. economy. Additionally, the industry contributes $38 billion in direct wages, salaries, and benefits.
How many jobs are there in the equine industry?
According to the American Horse Council horse industry trends, the estimated total employment impact of the horse industry is 1,744,747 million jobs. (1) It’s interesting to see that the jobs in the equine industry are in demand.
How big is the horse industry in Minnesota?
About 31 percent of United States households contain a horse enthusiast. Minnesota ranks 18th for the state with the greatest horse population. The horse industry contributes $1 billion and over 15,000 jobs to the Minnesota economy. In 2017, the American Horse Council evaluated the economic impact of the horse industry in the United States.
How many horse owners are involved in the economy?
The horse owning data shows that most horse owners are not just recreational owners but actively participate in economic activities as well. According to research, 20% of horse owners are involved as horse trainers and 17% give lessons and instruction. (16) 60% of equestrians work in managerial positions.
What does the equine industry consist of?
The horse industry, or equine industry, is the economic activity associated with horses. This includes core agribusiness activities related to the use, possession or ownership of horses, as well as leisure activities and related economic activity that provides associated goods and services.
What are the most common sectors of the horse industry?
The industry employs more than 700 thousand people directly....Owner Activities:Recreational Rider: 85%Competitive Rider: 30%Horse Breeding: 11%Horse Facility Manager: 10%Grooming and Exercising: 9%Professional Trainers: 7%Racehorse Owner: 2%
How much does the equine industry contribute to the economy?
The horse industry contributes approximately $39 billion in direct economic impacts to the U.S. economy on an annual basis. When considering indirect and induced spending, the horse industry annually generates approximately $102 billion dollars for the U.S. economy.
How do equine industry make money?
Here Are 15 Ways To Make Money With HorsesBoard Horses In Your Own Stable.Offer Riding Lessons.Charge for Braiding Services.Rent Out Your Horse Arena.Exercise Horses.Horse Stable Cleaning Services.Pasture Care.Transport Horses to Events.More items...•
How much money does the horse industry pay in taxes to all levels of government?
Overall, the horse industry provided 460,000 direct jobs and 960,000 indirectly associated jobs for a combined total of slightly over 1.4 million jobs. The horse industry pays roughly $1.9 billion in taxes on an annual basis to all levels of government.
How big is the equine industry?
$122 billionThe $122 billion equine industry is a growing segment of the U.S. economy, employing 1.74 million people, according to a recent economic impact study.
Why is the equine industry important?
The equine industry plays an important role in its communities. It directly or indirectly supports a broad set of local jobs and economic activity across a spectrum of businesses and occupations. Public money invested in industry and related infrastructure returns to the community to generate more jobs and income.
Why are horses important for our economy and society?
Horses also have a very positive impact on an area's ecology. Well managed horse facilities protect groundwater and water ways, reduce brush load, lowering the instance of wildfires; conserve soil; and encourage biodiversity. View sheds are also a benefit of having horses in your community.
Why is the horse market so high?
There is a huge imbalance with supply and demand in the world right now. This has a big factor in why horse prices have went up. There is a high demand for horses, but there are only so many horses out there. People are buying horses left and right, even those who have never owned them before.
Are horses profitable?
And the business of breeding a winning racehorse is as lucrative — and risky — as any investment. Other types of horses have the potential to be good investments, too.
Is there money in cutting horses?
A young, untrained cutting horse with a good bloodline can sell for $30,000 to $50,000, while a trained mare with proven skills can be worth more than $100,000. Studs can be worth millions in stud fees.
How many horse clubs are there in China?
The number of horse clubs in China has increased by 1500% in recent years, from 90 in 2010 to 1400 in 2017. Major market for expansion 22
Who is the founder of EBA?
EBA founder Christina Jones calls it one of the biggest industries that is hidden in plain sight. Most people outside (& many within) have no idea of the global scale & significance of the equine industry. Read on for some stats & facts that highlight the breadth & depth of the business….
Is the UK a good horse country?
UK has one of the highest quality equine industries in the world, and is internationally recognised as the leading source of equine expertise, resulting in export markets with overseas trade valued at over £500m and growing, with rapidly developing markets in the Far East 14
How does the horse industry impact the economy?
An economic impact study (EIS) examines the effect of an event or industry has on the economy and usually measures changes in business revenue, business profits, personal wages, and/or jobs. As a large, economically diverse industry, the United States horse industry contributes significantly to the American economy. Here are just a few of the many ways the AHC National Economic Impact Study is used: 1 Educate decision makers/law makers on the economic impact of the equine industry nationally or locally 2 Identify trends, and project/forecast indicators when used in conjunction with previous studies 3 Pinpoint areas of growth in the industry to foster, and identify gaps that need attention 4 Assess the demographics of the industry (age, income levels, etc.) 5 Identify the monetary impacts the industry has on a community through tourism, jobs, etc. 6 Inform possible decisions regarding business development such as construction or renovation of venues and trails, and determine viability of events 7 Provide context to arguments and cases for legal defense, adverse legislation or regulation, or development or expansion that may negatively impact the industry 8 Help fight for green space and public lands
When will the next horse industry study be done?
The next study will take place in 2022.
What is economic impact study?
An economic impact study (EIS) examines the effect of an event or industry has on the economy and usually measures changes in business revenue, business profits, personal wages, and/or jobs. As a large, economically diverse industry, the United States horse industry contributes significantly to the American economy.
Who is the President of the American Horse Council?
If you have questions or would like additional information, contact American Horse Council President Julie Broadway at [email protected]
How much does the horse industry contribute to the economy?
The horse industry contributes approximately $50 billion in direct economic impact to the U.S. economy, and has a direct employment impact of 988,394 jobs. Additionally, the industry itself contributes $38 billion in direct wages, salaries, and benefits.
Why is the equine industry important?
The equine industry plays an important role in its communities. It directly or indirectly supports a broad set of local jobs and economic activity across a spectrum of businesses and occupations. Public money invested in industry and related infrastructure returns to the community to generate more jobs and income.
What is the purpose of the horse association?
To help inform general public of the level of involvement with horses in the US (owners, participants, spectators, etc.)
The U.S. horse industry employs 1.74 million people
The horse industry employment impact is bigger than it might seem at first glance.
There are 7.25 million horses in the U.S
According to The American Horse Council (AHC), there has been some confusion in the past on exact U.S. horse population numbers. (9)
Texas has the highest horse population per state
According to American Horse Council Foundation (2017) data, 45 states in America have over
How much does it cost to own a horse?
The annual ownership cost of a recreational horse in the U.S. is $7,896.
How much does a horse cost per month?
The average monthly ownership cost of a recreational horse in the U.S. is $658.
How much does a horse cost per year?
The annual ownership cost of a recreational horse in the U.S. is $7,896.
Which state has the most horses?
Texas has the highest horse population per state. Texas has 767,100 horses.
How much does the horse industry contribute to the economy?
The U.S. horse industry directly contributes $50 billion to the economy and provides about 988,000 jobs. Direct contribution refers to economic activity occurring within the horse industry itself, such as horse care or recreation. However, these direct economic activities also prompt additional economic activity outside the horse industry. As a result, the total economic impact of the horse industry in the U.S. is $122 billion and 1.7 million jobs.
What is the third major sector in the horse industry?
The third major sector in the horse industry is racing. Minnesota is home to two racetracks that host about 122 live race days. The racing sector drives an array of economic activity including spending on training, breeding, jockey fees, facilities, broadcasting services and wagering.
How does horse competition affect Minnesota?
Furthermore, varying disciplines, age groups and competition levels increase the participation in competitive events and leads to differences in spending. Horse competition in Minnesota contributes 7,666 jobs and a $366 million value added to the economy.
What states have the most horses?
The United States is home to over 7.2 million horses. Of those horses, about 145,727 reside in Minnesota, which ranks 18th in the nation for the largest horse population. The leading states for horse populations include: 1 Texas: 767,100 horses 2 California: 534,500 horses 3 Florida: 387,300 horses
What are horses used for in Minnesota?
Horses are most commonly used for recreational activities such as lessons and trail riding. Over 10 percent of Minnesota households participate in trail riding and 8.4 percent participate in riding lessons. These activities drive spending on horse care, activity fees and equipment.
How many horses are there in Minnesota?
Based on their data, Minnesota ranks twenty-seventh in the U.S. for horse population, is home to 8,000 horse farms, 46,879 horses and that a majority (96%) of farms have one to twenty-four horses on site. The top ten Minnesota counties for horse population include:
What is a farm?
The USDA data is collected from “farms” and the USDA defines a farm as “Any place that produces and sells at least $1,000 of an agricultural product (e.g. meat, milk, eggs, wool, honey, breeding or stud fees, etc.) in a given year.".
What are the three main economic drivers of the equine industry?
While the equine industry as a whole generates approximately $122 billion in total economic value, it’s commonly thought that the “big three” that are the primary economic drivers are recreation, racing and competition .
How many people are employed by the equine industry?
The $122 billion equine industry is a growing segment of the U.S. economy, employing 1.74 million people, according to a recent economic impact study.
How many people are horse enthusiasts?
The study also found that 38 million, or 30.5 percent, of U.S. households contain a horse enthusiast, and 38 percent of participants are under the age of 18. Some 80 million acres of land is reserved for horse-related activities.
Which state has the highest population of horses?
has decreased, this was not entirely unexpected due to the decline in breed registration trends over the last few years.”. Texas – the epicenter of the cutting industry – had the highest population of horses, followed by California and Florida.
