With the pace of changes in the equine industry accelerating at a never-before-seen pace, the American Horse Council (AHC) is driven to keep up the pace. Because of that, AHC President Julie Broadway is proud to announce that the 2023 National Equine Economic Impact Study is now underway.
Over the course of its 50-plus year history, the American Horse Council (AHC) has conducted numerous National Economic Impact Studies of the US horse industry, including 1987, 1997, 2007 and the most recent study completed in 2017. The challenges of the last few years with the pandemic and its economic impacts on all aspects of our industry make the 2023 study all that more important and necessary.
An economic impact study examines the effect an event or industry has on the economy. These studies usually measure changes in business revenue, business profits, personal wages and/or jobs. As a large, economically diverse industry, the United States horse industry contributes significantly to the American economy. The 2017 study showed an annual contribution to GDP of $122B up from the 2007 study which reflected $102B contribution by 20%! The 2017 study also showed the industry employed 1M up from the 2007 study which stated 702K employees.
Study logistics and methodology
The design of the survey(s) and strategies for collection of secondary data commenced on January 18, and will continue through February. A working group of 15 industry stakeholders will be used to assist with survey design and distribution logistics.
It is anticipated that the surveys will start circulation and will be shared with the industry in April. Data collection will continue through September. Once complete, an analysis will be performed, and final reports can be expected in October 2023. At this time, the AHC will release a National Report.
Four state breakout reports have been commissioned for Florida, Maryland, North Carolina and Texas. A special Harness Racing Report was also commissioned. Persons or organizations wishing to commission a breakout report have until March 1, 2023, to make arrangements with the AHC.
Fundraising
As AHC and the AHC Foundation (AHCF) are not government subsidized, nor do AHC or AHCF receive any funding through check off programs like some livestock groups, the AHC relies on contributions, sponsorships and advertising to fund the study. “At this point in time, we are still about $15,000 short of our goal, so contributions and support are most welcome,” states Broadway.
You can visit the AHC website at www.horsecouncil.org to donate towards this imperative study.
AHC will be providing media toolkits to help organizations spread the word about the study and the importance of completing the survey. We anticipate making those available by April 2023.
For questions, donation inquiries or breakout report requests, contact American Horse Council President Julie Broadway at jbroadway@horsecouncil.org
About the American Horse Council
As the national association representing all segments of the horse industry in Washington, D.C., the American Horse Council works daily to represent equine interests and opportunities.
Contact: Julie Broadway
American Horse Council
Phone: 202-296-4031
Email: jbroadway@horsecouncil.org