Economic Impact of the Equine Industry in Georgia

Summary

In order to better understand the total economic impact that the equine industry has on Georgia's economy, the Georgia Equine Commodity Commission contracted with the University of Georgia Center for Agribusiness and Economic Development to conduct a comprehensive study of the industry's impact on the state's economy.

Situation

Horses rank as Georgia's sixth most important agricultural commodity, with a total farm gate value of $414 million in 2008. Breeding and raising horses is becoming an increasingly significant sector of the state's livestock industry, accounting for 33% of the value of all livestock and aquaculture in Georgia. These figures do not reflect the additional economic impact that the equine industry has on the state's economy through job creation, feed and forage sales, farm supplies, veterinary services, horse shows, and so on. In order to better understand the total economic impact that the equine industry has on Georgia's economy, the Georgia Equine Commodity Commission contracted with the University of Georgia Center for Agribusiness and Economic Development to conduct a comprehensive study of the industry's impact on the state's economy.

Response

The Center for Agribusiness and Economic Development conducted a statewide survey of horse owners in order to collect the data necessary to estimate the value of horses and horse related expenses and activities. More than 1,000 Georgia horse owners completed the on-line survey instrument. This substantial sample size will allowed the data to be segmented into various demographic subsets of the population such as old versus young horse owners, male versus female owners, pleasure riders versus barrel racers, or other sub segments of the population without loss of significance in the results. The purpose of the survey is three-fold. It will provide an estimate of the number of Georgia households that own horses and will collect specific data related to horse owners' equine related expenses and activities. It will also estimate the impact of equine related events that draw horse owners from surrounding states on Georgia's economy.

Impact

The survey portion of the study has been completed and compilation of results and estimation of the economic impact of various segments of the industry is currently underway. The final study is scheduled to be released in early 2012. Of particular interest to a number of key Georgia law makers are results related to the likely impact of horse racing on the state's economy.

State Issue

Agribusiness Development/Value Added

Details

• Year: 2011
• Geographic Scope: State
• County: Clarke
• Program Areas:
  • Agriculture & Natural Resources