 Impact of the Horse 
Industry in Indiana
|
1999 (1,5) |
2001 (1,4) |
2003 (2,3) |
Year One (7) |
Year Ten (8) |
|
|
|
|
|
|
| Total Race Horses |
8,700 |
10,218 (6) |
14,339 |
14,339 |
18,472 |
| Total Employment Impact from Horse Racing |
5,432 |
6,662 |
4,403 |
4,403 |
8,312 |
| Total Direct Employment Impact from Alternative Gaming (9) |
|
|
|
2,000 |
2,000 |
| Total Annual Economic Impact from Horse Racing |
$129,860,556 |
$479,224,200 |
$294,000,000 |
$294,000,000 |
$568,938,000 |
| Total Annual Direct Economic Impact from Alternative Gaming (10) |
|
|
|
$241,447,500 |
$241,447,500 |
| Licensing Fee to State (10) |
|
|
|
$200,000,000 |
|
| State and Local Tax Revenue (10) |
|
|
|
$197,100,000 |
$197,100,000 |
| Elimination of Riverboat Subsidy (10) |
|
|
|
$27,200,000 |
$27,200,000 |
| Total Annual Financial Impact |
$129,874,688 |
$479,230,862 |
$294,018,742 |
$959,768,242 |
$1,034,714,284 |
| Total Employment Impact |
5,432 |
6,662 |
4,403 |
6,6403 |
10,312 |
(1) American Horse Council Foundation & Barents Group, LLC. 1996. The National Economic Impact Study of the Horse Industry.
(2) American Horse Council Foundation & Deloitte Touche Tohmatsu. 2005. The Economic Impact of the Indiana Horse Industry.
(3) American Horse Council Foundation & Deloitte Touche Tohmatsu. 2005. The National Economic Impact of the U.S. Horse Industry.
(4) Indiana Agricultural Statistics Service. 2002. Indiana Equine Economic Impact Study.
(5) McNamara, K.T. and Mary Knudson. 1999. Economic Impacts of Indiana's Pari-Mutuel Horse Industry on Indiana.
(6) Indiana Horse Racing Commission. 2001. Personal Communication.
(7) Year one following passage of the Gutwein Equine Agricultural Bill.
(8) Estimated 10-year potential based upon straight line extrapolation of data in footnotes 1,2,3,4, and 7. No escalation for inflation.
(9) Richard Moore, President and General Mgr., Hoosier Park and Jonathan Schuster, General Mgr., Indiana Downs. 2005. Personal Communication.
(10) Proposed Gutwein Bill, PD3330.
|
