karlskorner
11-14-2001, 09:45 AM
Todays Thoroughbred Times carried the following story entitled TEXAS STUDY SHOWS ECONOMIC IMPACT OF RACING IN STATE. You can read the entire story at Thoroughbredtimes.com
I am going to use a few excerpts.
Horse and greyhound racing in Texas generates almost $6 BILLION in spending annually and supports about 52000 PERMANENT, jobs but is under attack from the expansion of gaming in neighboring states, according to a study released this week by the Texas Agri-industry Council.
The study, completed in July was conducted by the Perryman Group, an economic analysis and forecasting company based in Waco. The Perryman Group examined three key areas, the current economic impact of the racing industry (including breeding and training) on overall business activity in the state.
Dr. Perryman states "it includes a lot more than just the track operations, the tourists who visit them, and the money they spend in those communities, it also supports a very large training and breeding activity and the maintenance of the horses here is Texas, which is a vital part of our agricultural industry"
The study also found that racing, breeding and training of horses and greyhounds in Texas produces about $160 MILLION a year in tax revenus in the state.
In the argicultural sector alone, racing produces $1.1 BILLION in spending, $314 MILLION in personal income and nearly 9,000 PERMANENT jobs, about 6.6% of Texas's total reported agricultural employment.
According to the study, lost racing activity caused by Louisiana casinos alone costs Texas $762 MILLION annually. "The racing sector's contribution to the overall Texas economy has been reduced by approximatley 31% as a result of the (Louisiana) casinos" Perryman said.
END
And thats just Texas.
Karl
I am going to use a few excerpts.
Horse and greyhound racing in Texas generates almost $6 BILLION in spending annually and supports about 52000 PERMANENT, jobs but is under attack from the expansion of gaming in neighboring states, according to a study released this week by the Texas Agri-industry Council.
The study, completed in July was conducted by the Perryman Group, an economic analysis and forecasting company based in Waco. The Perryman Group examined three key areas, the current economic impact of the racing industry (including breeding and training) on overall business activity in the state.
Dr. Perryman states "it includes a lot more than just the track operations, the tourists who visit them, and the money they spend in those communities, it also supports a very large training and breeding activity and the maintenance of the horses here is Texas, which is a vital part of our agricultural industry"
The study also found that racing, breeding and training of horses and greyhounds in Texas produces about $160 MILLION a year in tax revenus in the state.
In the argicultural sector alone, racing produces $1.1 BILLION in spending, $314 MILLION in personal income and nearly 9,000 PERMANENT jobs, about 6.6% of Texas's total reported agricultural employment.
According to the study, lost racing activity caused by Louisiana casinos alone costs Texas $762 MILLION annually. "The racing sector's contribution to the overall Texas economy has been reduced by approximatley 31% as a result of the (Louisiana) casinos" Perryman said.
END
And thats just Texas.
Karl