May/June 2024 Issue

Page 40 May/June 2024 EAST COAST EQUESTRIAN The findings of the highly anticipated 2023 Equine Eco- nomic Impact Survey have been officially released by the American Horse Council (AHC). The results shed a light on the significant and robust contribu- tions of the equine industry to the U.S. economy. The survey offers a comprehensive overview of the economic impact and trends within the equine sector and high- lights how it reaches far beyond the pastures and ranch land across the country. Key highlights of the survey include: 1. Diverse Economic Sectors Impacted: $177 billion. That’s the total value added in 2023 from the equine industry, up from $122 billion in 2017. The equine industry’s ripple effect extends beyond the traditional sectors, influencing a broad spec- trum of industries. From agricul- ture and tourism to veterinary ser- vices and technology, the survey showcases the interconnectedness of the equine world with other economic realms 2. Employment Boost: The survey reveals a substantial impact on employment with 2.2 million jobs linked both direct- ly and indirectly to the equine sector. Not only are breeders, trainers, veterinarians and farriers represented, but so are truck driv- ers, nutritionists, chemists, police officers and journalists. 3. Slight Downshift in Pop- ulation: While there is a slight downshift in the total population of horses from 2023 (6.6 million) compared to 2017 (7.2 million), that’s only a slight consideration when compared to the growing numbers in jobs and expenditures. The purpose of the survey is to demonstrate the value of the equine industry in the national and state economies by analyzing the direct, indirect, and induced economic impacts of horse own- ership, recreation, and equine-re- lated services. Data collected will inform public and private investments in equine-related businesses, equine health care, education, land use decisions, tax policy, tourism, employment incentives, etc. The AHC expresses gratitude to all participants, stakeholders and partners who contributed to the success of the 2023 Equine Economic Impact Survey. The results not only underscore the industry’s economic significance, but also serve as a foundation for informed decision-making and strategic planning within the equine community. "The Economic Impact Study is the most effective tool in our advocacy quiver,” says Julie Broadway, president of the AHC. “When the industry needs to take aim at an issue, this data is invaluable in helping us paint the picture of the contributions the industry makes and the breath & depth of its composition." The 2023 Equine Economic Impact Study can be purchased as a digital download from the AHC website, horsecouncil.org . Equine Economic Impact Survey Results Released