Kentucky’s equine industry assets valued at $23.4 billion

Annual sales of equine goods and services measured at $3 billion

LEXINGTON, Ky. (Sept. 6, 2013) — The total value of Kentucky’s equine and equine-related assets is estimated at $23.4 billion, according to the 2012 Kentucky Equine Survey, which was released today.

There are approximately 35,000 equine operations in Kentucky, where 242,400 horses live.
There are approximately 35,000 equine operations in Kentucky, where 242,400 horses live.

The annual increase in sales of total goods and services because of the presence of the equine industry in Kentucky was measured at approximately $3 billion.

Phase 1 of the survey included an inventory of all breeds of horses, ponies, donkeys and mules; Phase 2 focused on the economic impact the equine industry.

Click here to download the full survey.

Phase 1 Findings

Phase 1 was a statewide survey of equine operations that included an inventory of all breeds of equine. It included a look at sales, income, expenses and assets of those operations.

Findings include:

♦ Kentucky is home to 242,400 horses.

♦ There are approximately 35,000 equine operations in Kentucky.

♦ 1.1 million acres in Kentucky are devoted to equine use.

♦ The total value of the state’s equine and equine-related assets is estimated at $23.4 billion.

♦ The total of all equine-related sales and income for equine operations in 2011 was about $1.1 billion.

♦ Total equine-related expenditures by equine operations in 2011 totaled about $1.2 billion; 77 percent of operating expenses are spent in Kentucky.

Top 10 Equine Breeds in Kentucky

Thoroughbred: 54,000

Quarter Horse: 42,000

Tennessee Walking Horse: 36,000

American Saddlebred: 14,000

Donkeys and mules: 14,000

Mountain Horse breeds: 12,500

Standardbred: 9,500

Miniature Horses: 7,000

Ponies: 7,000

Paint: 6,500

Primary Use of Kentucky’s Equines

Trail riding/pleasure: 79,500

Broodmares: 38,000

Idle/not working: 33,000

Competition/show: 24,500

Yearlings, weanlings and foals: 23,000

Racing: 15,000

Other activities: 13,000

Work/transportation: 12,500

Stallions at stud: 3,900

Phase 2 Findings

Phase 2 of the project entailed an economic impact analysis of Kentucky’s equine industry.

According to three of the most commonly-used measures of economic impact:

♦ The output effect, or the increase in sales of total goods and services due to the presence of the equine industry, was measured at approximately $3 billion.

♦ The employment effect, or the number of jobs created, was measured at 40,665.

♦ The value added effect, which is new income paid to workers, profits earned by businesses or dividends paid to shareholders, was estimated to be $1.4 billion.

♦ In addition, the tax contribution of the equine industry to the state of Kentucky was approximately $134 million.

 

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