Pennsylvania Race Horse Development Fund Fact Sheet
Pennsylvania Race Horse Development Fund Fact Sheet link
Pennsylvania Race Horse Development Fund Fact Sheet
- Pennsylvania horse racing supports the economy and protects farmland.
- Pennsylvania horse racing contributes $1.6 billion in economic activity every year.
- 18 percent of the total acres in the agricultural preservation program are equine-related.
- The PA Gaming Act has increased jobs by 205 percent! Of those equine jobs, 23,028 are within the horse racing industry.
- Horse owners and trainers reinvested 89 percent ($210 million) of monies paid from the Race Horse Development Fund into their local economies.
- Since expanding gaming, many PA farms have opened or grown and are home to about $40 million in racehorses.
- Did you know the Pennsylvania equine community generates $4 billion in annual economic activity?
- The PA horse racing industry generates $1.6 billion in annual economic activity, more than a quadruple increase from 2002.
- Funding from the Race Horse Development Fund has encouraged new business and economic development in Pennsylvania.
- According to the Pennsylvania Gaming Control Board, horse owners and trainers reinvested approximately 89 percent, or $210 million, of monies paid from the Race Horse Development Fund into their local economies.
- Each year, Pennsylvania’s agriculture and horse racing industries pour billions of dollars into Pennsylvania’s economy and support tens of thousands of jobs.
- According to the PA Gaming Control Board, in 2014, revenue generated from slot machine gaming accounted for approximately 87 percent of all purses earned.
- Before Act 71, horse racing had a $1 billion impact in the state. It now has a $4 billion economic impact.
- The horse racing industry has a $4 billion economic impact to equine industry in Pennsylvania.
- The Pennsylvania Race Horse Development Fund is a national example.
- There is no tax money used in the Race Horse Development Fund. The fund was created through slot generated money.
Originally posted here: https://www.pahbpa.com/what-we-do/news/pennsylvania-race-horse-development-fund-fact-sheet/
