- 15 May
The Maryland equine industry contributes more than $1.3 billion to the state’s economy, with more than half generated by horse racing and related businesses, according to the latest economic impact study commissioned by the American Horse Council.
A May 14 release notes that total employment in the state’s horse industry is more than 21,000 jobs. Racing, both Thoroughbred and Standardbred, produces $365 million in economic value and provides more than 5,200 jobs for a total economic impact of $572 million, according to the study.
The report outlines three primary sectors of the horse industry: recreation, competition, and racing. Other benefits that spin off from the horse industry are land preservation, volunteerism, equine therapy and rehoming operations, and educational opportunities at academic institutions.
Horse racing in Maryland has rebounded in recent years as a result of a 10-year agreement among stakeholders and a dedicated percentage of video lottery terminal revenue from the state’s casinos. Breeding and racing have both experienced growth.