It's payday for Thoroughbred horse breeders in Kentucky. The Kentucky Horse Racing Commission announces the release of the 2022 Kentucky Thoroughbred Breeders' Incentive Funds (KTBIF), totaling $17.4 million.
“It's an exciting time of year in Kentucky,” said Gov. Andy Beshear. “Starting with the release of these funds to Kentucky breeders and kicking off the countdown to the 2023 Kentucky Derby.
“The Kentucky Thoroughbred Breeders' Incentive Fund accomplishes its mission of keeping mares and foals in our beautiful state, bolstering our billion-dollar strong equine industry, and providing more than 60,000 jobs for hardworking Kentuckians,” added Gov. Beshear.
Nine out of the top 10 earners in the U.S. in 2022 were Kentucky-breds. Another look at the stats shows that in 2022 Kentucky breds:
- Won 69 percent of all graded stakes races in the U.S.
- Won 78 percent of the Grade 1 races in the U.S.
The KBIF was implemented in 2005 to ensure the strength of Kentucky's equine industry by awarding funds to individuals who choose to breed a thoroughbred mare in Kentucky. To qualify, the mare must remain in the state during gestation, and the final award amounts are based on the foal's eventual earnings at the racetrack.
The KBIF is funded through a percentage of the sales tax paid when a stallion is bred to a mare in Kentucky. Since the fund's inception, more than $217 million has been distributed to Kentucky breeders for winning eligible races worldwide.
A list of the 2022 award winners, along with the amount awarded and other interesting statistics, can be found on the KHRC website at https://khrc.ky.gov/new_docs.
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