Agricultural News
Horse Industry Provides $3.6 Billion Economic Impact to Oklahoma
Tue, 19 Nov 2013 20:54:37 CST
The Oklahoma Equine Alliance released a comprehensive study today showing the economic impact generated by the Oklahoma Equine Industry reached $3.6 billion in 2012, yielding roughly 35,070 full time equivalent jobs. The study was completed in 2013 and commissioned by members of the Oklahoma Equine Alliance.
Members of the Oklahoma Equine Alliance include the Thoroughbred Racing Association of Oklahoma, Oklahoma Quarter Horse Racing Association, Remington Park, Will Rogers Downs, Fair Meadows, Oklahoma Horse Council, Oklahoma Farm Bureau, Oklahoma Horse Racing Commission and the Oklahoma Department of Agriculture, Food, and Forestry. These members as well as state legislators and top executives from breed organizations and private entities gathered today to recognize Oklahoma's thriving equine industry. The study provides thorough economic data and highlights the cooperative efforts of private and public partnerships that have driven the growth of Oklahoma's equine business.
Oklahoma is known worldwide for its top caliber horses as well as its top tier facilities. Oklahoma is recognized as the "horse show capital" of the world, is home to over a thousand rodeo events and hosts the top race meets for Quarter Horses in the United States. The Oklahoma State Fair Park and Tulsa Expo Square have completed improvements to their facilities totaling over $250 million since 2005. The world class facilities are a significant component in the ability to host national and international equine events year round.
"There is no doubt that the equine industry is a significant economic driver within our Oklahoma economy", said Secretary of Agriculture, Jim Reese. "With a total impact of $3.6 billion and generation of over $100 million in state and local taxes it is evident that the equine industry is important to all areas of our state. We want to continue to support our equine events and participants as they create opportunity here in Oklahoma."
You can look at the report that was released at the state capitol on Tuesday- click on the PDF file link below called "Equine"
06589_Equine_OK_6-24.pdf
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