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The Economic Impact of the Horse Industry in Virginia

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Abstract

This paper examines the economic impact of Virginia\'s horse industry using input-output analysis. Statewide impacts are further disaggregated into three categories: (1) expenditures on horse maintenance and support by horse owners and operations, (2) expenditures on horse shows and competitions, and (3) expenditures associated with pari-mutuel racing activities. Results indicate a total economic impact of 16,091 jobs and $670 million in value-added impact.

Suggested Citation

  • Terance J. Rephann, 2011. "The Economic Impact of the Horse Industry in Virginia," Reports 2011-02, Center for Economic and Policy Studies.
    • Handle: RePEc:vac:report:rpt11-02
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    File URL: http://econ.ccps.virginia.edu/RePEc_docs/ceps_docs/horse_study_final.pdf
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    References listed on IDEAS

    as
    1. Watson, Philip & Wilson, Joshua & Thilmany, Dawn D. & Winter, Susan, 2007. "Determining Economic Contributions and Impacts: What is the difference and why do we care?," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 37(2), pages 1-7.
    2. Terance J. Rephann & John Knapp & William Shobe, 2010. "Study of the Economic Impact of Virginia Public Higher Education," Reports 2010-01, Center for Economic and Policy Studies.
    3. John Knapp, 2005. "The Virginia Horse Center\'s Economic Impact in 2004: An Update of the 2001 Study," Reports 2005-01, Center for Economic and Policy Studies.
    4. Richard Thalheimer & Mukhtar M. Ali, 1995. "The Demand for Parimutuel Horse Race Wagering and Attendance," Management Science, INFORMS, vol. 41(1), pages 129-143, January.
    5. Terance J. Rephann, 2008. "The Economic Impact of Agriculture and Forestry on the Commonwealth of Virginia," Reports 2008-01, Center for Economic and Policy Studies.
    6. Charles Gerena, 2005. "Happy trails : horses are used more for pleasure than business, but they still have a place in Fifth District agriculture," Econ Focus, Federal Reserve Bank of Richmond, vol. 9(Win), pages 36-38.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Paul D. Gottlieb & Jennifer R. Weinert & Elizabeth Dobis & Karyn Malinowski, 2020. "The Evolution of Racehorse Clusters in the United States: Geographic Analysis and Implications for Sustainable Agricultural Development," Sustainability, MDPI, vol. 12(2), pages 1-31, January.
    2. Maynard, Leigh J. & Dunaway, Tarrah & Garkovich, Lorraine & Davis, Alison F., 2013. "The Impact of Agriculture on Other Business Activity: A Nationwide Analysis Applied to Fayette County, Kentucky," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142131, Southern Agricultural Economics Association.

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    More about this item

    Keywords

    horse; racing; economic impact; input-output;
    All these keywords.

    JEL classification:

    • Q19 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Other
    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General

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