A thriving equine industry is vital to the health of the New York State economy, according to the results of a study released today (Oct. 15). The New York State Equine Industry Economic Impact Study determined that the equine industry has a $4.2 billion effect on the state’s economy and generates 33,000 full-time jobs. Equine commerce also results in $187 million in state and local taxes for New York. The thousands of horse farms, training centers, and riding stables doing business across the state preserve 1.3 million acres of open space. There are 157,500 horses residing in New York.

"When you look at the numbers, it’s eye-opening," said Rick Violette Jr., president of the New York Thoroughbred Horsemen’s Association. "The study shows, in black and white, that every horse in New York is a potent job creator. The horse should be our state animal. But it comes as no surprise that the equine industry creates tens of thousands of jobs. There is so much that goes into the raising and training of a horse. It is a very labor-intensive business."

New York’s racing industry engenders a particularly strong work force. The study demonstrates that there are 80 jobs for every 100 racehorses in New York. In addition, each individual racehorse has an economic impact of $92,100 on the state’s bottom line. The racehorse population is 23,100.

The equine industry contributes to the local economies of every one of New York’s 62 counties. In addition to the 2,300 Thoroughbred and Standardbred breeding, training, and racing facilities across the state, there are 23,000 family-owned farms and stables, as well as commercial enterprises that include show horse operations, boarding and riding stables, and breeding farms for recreational and show horses. Every member of the equine industry in turn supports state and local businesses