By Blake Jackson
Every May, the world turns its gaze to Kentucky for the iconic Kentucky Derby. While the race itself is shrouded in tradition and glamour, its impact extends far beyond a day at the racetrack. This year, as the event celebrates its 150th anniversary, it's worth remembering the crucial role Kentucky's equine industry plays in the state's economy and agricultural landscape.
Commissioner Jonathan Shell emphasizes the Derby's ability to showcase Kentucky's agricultural prowess, generating an estimated $400 million in economic impact annually. But this influence goes deeper, with the entire equine industry contributing $6.5 billion and over 60,000 jobs to the state's economy.
Kentucky boasts the title of "Horse Capital of the World," and with good reason. It's home to over 209,500 horses, with Thoroughbreds holding the crown as the most prevalent breed. As the nation's leading producer of Thoroughbreds, Kentucky contributes 30% of all foals born in the US. The industry's value, estimated at a staggering $27.7 billion in 2022, reflects its continued growth and significance.
Across the state, over 31,000 equine operations dot the landscape, encompassing over 900,000 acres dedicated to breeding, training, and related activities. This flourishing industry has not only bolstered Kentucky's agricultural sector but also cemented its winning reputation on the racetrack. An impressive 113 out of the 149 Kentucky Derby champions were Kentucky-born, solidifying the state's breeding prowess.
Kentucky's success extends beyond its borders, with horse exports generating an estimated $789.3 million annually. While the Derby brings a moment of international spotlight, the state's vibrant and thriving equine industry shines brightly year-round, reminding us of its deep-rooted connection to Kentucky's agricultural identity.
Photo Credit: gettyimages-patrick-jennings
Categories: Kentucky, Business