The results are in and the 2012 Kentucky Equine Survey shows horses mean billions of dollars to Kentucky
The estimated value of the 242,400 equines in Kentucky is around $6.3 billion dollars. Also the estimated value of equine related assets, including land and buildings, vehicles, equipment, feed and supplies, tack and equestrian clothing is $17.1 billion dollars. The total value of Kentucky’s equine and equine related assets are a whopping $23.4 billion dollars.
The income generated from sales of equines in 2011 is estimated at $521.1 million dollars. Income from equine related services provided in 2011, including breeding and non-breeding services, such as training, boarding, farrier, transportation, purses, incentives, etc., totaled $491.0 million dollars. The total of all sales and income for equine operations in 2011 was around $1.1 billion dollars.
Capital expenditures by equine operations in 2011 were estimated to be $337.0 million dollars. Operating expenditures totaled $839.0 million dollars. The good news is 77% of these operating expenses were spent right here in Kentucky. Total equine related expenditures by equine operations in 2011 were about $1.2 billion dollars.
To see the actual survey summary you can go to the Kentucky Horse Council site here.
To sum it all up the horses in Kentucky are worth billions of dollars to the State and are a very important asset to be encouraged.
Photo: Courtesy of Sandy Dolan