According to the New York State Equine Economic Impact Study (a ‘breakout study’ from the American Horse Council National study), the New York equine industry contributes $7 billion to the state’s economy and has a total employment impact of 52,319 jobs. These figures document growth in both economic and employment impact since the prior study conducted in 2016, which found an economic impact of $5.3 billion and an employment impact of 42,400 jobs. The economic impact figures land New York among the top 10 states for equine economic impact, and reinforce the importance of the New York equine industry as a significant contributor to the overall economy of the state.
Economic impact comes from spending on the horse itself (including feed, veterinary care, training costs, boarding costs, riding supplies, etc.) as well as spending related to involvement with equines. Those related expenditures include land, buildings, tractors, trucks, fuel oil and taxes. The economic impact goes further and includes horse owner and enthusiast spending on travel, dining and lodging while attending and/or participating in events – to the tune of $2.4 billion. Much of that spending is felt in the communities hosting events and competitions.
Demonstrating the variety of equine engagement in the state, the Thoroughbred and Standardbred breeds remain the top breeds in New York while the Quarter Horse breed showed the most growth in the state. Trail riding landed at the top of household equine participation, with just under 10% of households in New York participating in that activity. The vast majority (87%) do so on public lands.
In terms of number of equines, the American Horse Council report identifies a decline both nationally and in New York. Nationally, the figure fell from 7.2 million to 6.7 million, for a 6.9% decline since 2016. In New York, the decline was smaller, at 4.7%, falling from 154,000 to 146,700. New York ranks 16th nationally in total equine population.
Overall, the findings of the New York State Equine Economic Impact Study provide insights useful in understanding the state’s equine industry and the myriad of ways that equines are important to the overall economy and the lives and livelihood of many households in New York.
The New York State Economic Impact study was commissioned by SaddleUpNY! and made possible through the generous contributions of the following industry partners and friends: New York Thoroughbred Breeding and Development Fund, New York Thoroughbred Breeders, Old Field Farm, Ltd, Blue Chip Farm, John Madden Sales, Cornell University Hospital for Animals, New York Farm Bureau, New York State Horse Council, Karin Bump, Timothy Williams, Sally Lynch, Kent Nutrition and Triple Crown Nutrition. In addition, a linked GoFundMe campaign was also utilized for essential broader support from individuals across the state.
This is the first in a series of press releases focusing on the results of the study. Additional highlights of the New York State Economic Impact study will be released in the coming weeks. Questions can be directed to Dr. Karin Bump, Executive Director of SaddleUpNY!, at [email protected].
