Florida Thoroughbred Breeders' and Owners' Association

Economic Impact Study Confirms Florida’s Equine Power as a Top National Horse Industry

According to the recently released American Horse Council Foundation 2023 Equine Economic Impact Study, the Florida equine industry contributes $12.8 billion to the Florida economy.

Florida Thoroughbreds contribute $3.24 billion annually to the Florida economy, more than one-quarter of that horsepower.

The study commissioned by the American Horse Council reaffirmed the status of the Florida equine industry, and specifically Thoroughbred horse racing, as a major sports and agricultural industry within the state.

Florida remains the third-leading equine state by population (behind Texas and California) with 335,000 head creating more than 112,000 jobs. Florida's 87,600 Thoroughbreds–one of every four horses in Florida–support 33,500 jobs total, or 30% of equine employment.

One-in-five Florida households participate in equine activities and more than 30% register as horse enthusiasts having owner, participant or spectator status. Florida lands dedicated to equine and equine-related activities total 561,000 acres.

“Florida, and specifically Marion County, has clearly maintained its rightful position as Horse Capital of the World by population, participation and economic value,” Florida Thoroughbred Breeders' and Owners' Association CEO Lonny Powell said.

“Even better, Sunshine State Thoroughbreds are consistently a top-three leading producer of Thoroughbred runners and second-ranked source of national stakes winners.”

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2024 Florida-Bred Incentives At Gulfstream Park Released

An unprecedented $2.1 million will fill the Florida-Bred Incentive Fund (FBIF) for overnight race conditions to start the new year, the Florida Thoroughbred Breeders' and Owners' Association (FTBOA), Gulfstream Park and the Florida Thoroughbred Horsemen's Association said in a combined release Wednesday.

Independently, the FTBOA revealed that an additional $1.3 million of Florida-bred race incentives on Gulfstream Park stakes and selected overnights to complement the expanded FBIF and longstanding Florida-Sire Sire Stakes 2-year-old series is on tap.

The combined programs, totaling $4.6 million, are substantially enabled by HB 7063, a 2023 Florida tax package directing more than $55 million into the Thoroughbred industry over two years.

In addition to the FBIF, the total pool of $5,000 bonuses for 2-year-old Florida Sire Stakes eligible winners in maiden special weights will triple to $300,000 from the $100,000 total bonus pool offered in prior years.

In overnight conditions, the FTBOA will boost maiden special weights, allowances and handicaps with $5,000 win bonuses for Florida-breds in open races and Florida Sire Stakes eligible winners in restricted races.

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FTBOA Reelects George Isaacs as President

George Isaacs, general manager of Ocala's Bridlewood Farm, has been reelected as the Florida Thoroughbred Breeders' and Owners' Association (FTBOA) president, according to a release put out by the organization Wednesday. Following the annual member meeting, the FTBOA held a board meeting and also named Rustlewood Farm's George Russell the first vice president, Summerfield's Francis Vanlangendonck the second vice president, Ocala Stud's Joseph M. O'Farrell as treasurer, and Nick de Meric, who operates de Meric Stables and Sales, as secretary.

“I have been fortunate to lead FTBOA at a time of legislative success that has been decades in the making, and at a time of innovation for the media division,” said Isaacs, who has served six terms on the FTBOA board with intermissions as required by bylaws. “I am proud of these accomplishments and thrilled the board has elected me again to continue my service as president for the Association and its members.”

Isaacs also chairs the Equine Studies Program at the College of Central Florida and the FTBOA Ocala Downtown Thoroughbred Walk of Fame committee, serves on the FTBOA Farmland Preservation Work Group, and serves on other boards.

In addition to the officers, the FTBOA updated board members. Milan Kosanovich and Vanlangendonck extended their terms on the board while Beckie Cantrell was named to the board for the first time. After an absence from the board due to term limits, past presidents Valerie Dailey and Brent Fernung rejoined the board. They will each serve a three-year term that will run through October 2026.

Leaving the board because of term limits were Bobby Jones and Dr. Fred Yutani, who served on the FTBOA board from October 2017 through October 2023; and Richard Kent, who served briefly, taking the seat left with the passing of board member and past president Fred Brei in March. Past president and director Dailey, as immediate past president, also serves as an executive committee member.

Other returning FTBOA board members include T. Paul Bulmahn, Jerry Campbell, Marilyn Campbell, Laurine Fuller-Vargas, Mike Hall, and Mary Lightner. Lonny Powell will continue as CEO and executive vice president.

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Florida Breeder And Stallion Awards Upped

The Florida Thoroughbred Breeders' and Owners' Association reported a substantial increase in awards will be paid to breeders and stallion owners for 2024 through their Annual Awards Plan that was approved by the Florida Gaming Control Commission, the organization said in a release Thursday.

The plan increases, which were enabled with the enactment of HB 7063, would increase Florida breeder and stallion awards by one-third, from the 15% level in 2023 to as much 20% of the announced gross purse in 2024.

HB 7063 is a $1.3 billion tax package and includes $5 million provided to the FTBOA for Florida breeding awards and incentives.

Breeder awards will be paid at 12.5% for first place, 5% for second place and 2.5% for third place, subject to specified caps. Those caps would also increase to $12,500 for first (an increase from $10,500 in 2023), $5,000 for second (an increase from $3,000), and $2,500 for third (an increase from $1,500).

Stallion awards in 2024 will be capped at $20,000 (an increase from $15,000) for wins in black-type races in Florida.

The total Florida breeder and stallion awards budget for 2024 is projected to be more than $8 million, a 52% increase from $5.3 million in 2023.

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