The National Thoroughbred Racing Association (NTRA) announced Friday that John Deere, the world's largest manufacturer of agricultural equipment, has renewed its sales and marketing partnership with the NTRA for an additional three years. Consistent with its long-standing NTRA deal, John Deere will continue in its role as the Exclusive Equipment Supplier to the NTRA and also maintain its participation in the NTRA Advantage group purchasing program.
“John Deere tractors and horse racing go hand in hand,” said NTRA President and CEO Tom Rooney. “We are thrilled to renew our partnership with this great American company for another three years.”
As part of the agreement, NTRA members will continue to be able to purchase or lease John Deere agricultural tractors, equipment, and implements with preferred member discounts, warranty programs, and competitive financing packages.
“The Thoroughbred industry remains a vital and important market for our products and services,” said Auston Till, Manager Partner Sales, John Deere Ag & Turf. “We greatly value our relationship with the NTRA and we look forward to continuing our partnership with the NTRA and its members.”
“We're delighted to extend our deal with John Deere,” said Fritz Widaman, Senior Vice President of NTRA Advantage. “Thanks to this agreement, NTRA members who have always relied on John Deere's outstanding equipment will continue to enjoy special pricing from a world-class company that also supports our industry through substantial marketing and sponsorship spending.”
NTRA members that can realize savings through NTRA Advantage include racetracks, owners, breeders, and trainers. Equine organizations utilizing the Advantage program extend well beyond the realm of Thoroughbred racing. Participating organizations include the American Quarter Horse Association, the U.S. Equestrian Federation, the U.S. Trotting Association, Harness Tracks of America, the American Paint Horse Association, and the U.S. Polo Association.
Additionally, those who make purchases through NTRA's Advantage program can utilize the tax incentive program called Bonus Depreciation. Bonus Depreciation is a tax incentive designed to stimulate business investment that allows the taxpaying company to accelerate the depreciation of qualifying assets such as equipment like John Deere tractors. Through the end of 2023, businesses are able to deduct 80% of the cost of qualifying property for business purposes from taxable income. This deduction amount will phase down to 60% in 2024, which is why NTRA is encouraging racetracks, farms, and other industry businesses to consult their tax advisors on how to best utilize this incentive prior to the end of the year.
In 2022, the NTRA Advantage program topped the $1 billion sales mark with savings to the horse industry approximately $180 million since the inception of the NTRA's group purchasing arm in 2002. NTRA Official Suppliers include such nationally known vendors as John Deere, Big Ass Fans, Sherwin-Williams, ODP Business Solutions and Farmers Insurance.
The NTRA, based in Lexington, Ky. and Washington, D.C., is a broad-based coalition of more than 100 horse racing interests and thousands of individual stakeholders consisting of horseplayers, racetrack operators, owners, breeders, trainers and affiliated horse racing associations, charged with increasing the popularity, welfare and integrity of Thoroughbred racing.
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