Kentucky’s Equine Industry has $3 Billion Economic Impact

Kentucky’s equine industry had a total economic impact of almost $3 billion, generated 40,665 jobs last year.

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Kentucky’s equine industry had a total economic impact of almost $3 billion and generated 40,665 jobs last year, according to the 2012 Kentucky Equine Survey. The equine industry’s tax contribution to Kentucky was approximately $134 million.

According to project lead Jill Stowe, PhD, an associate professor in agricultural economics and University of Kentucky Ag Equine Programs director, the total economic impact is measured by the output effect and is an estimate of revenues earned by the sale of goods and services related to the equine industry and its interconnected industries. The study also showed that the value-added effect, which is perhaps a more descriptive measure of economic impact because it accounts for costs of production, has an estimated economic impact of $1.4 billion. The value-added effect is a measure of profitability and new income paid to workers rather than simply revenue.

How Does the Kentucky Equine Survey Help Horse Owners?

In order to complete the 2012 Kentucky Equine Survey, the research team relied heavily on horse owner and farm manager participation. So how does this survey benefit owners in the long run?

"When you do studies like this, there are obvious benefits to the big farms and businesses, but there are also benefits for the backyard horse owner, like myself," said Jill Stowe, PhD, University of Kentucky Ag Equine Programs director and an associate professor of agricultural economics. "When we learn where the horses are in the state and what they’re used for, it becomes easier to provide services more effectively for those people

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The Horse: Your Guide To Equine Health Care is an equine publication providing the latest news and information on the health, care, welfare, and management of all equids.

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