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Study: Economic Impact of Virginia Racing Industry Over $542 Million

The horse racing and breeding industry in Virginia generated an estimated economic impact of $542.1 million in the state in 2019, according to a study commissioned by the Virginia Equine Alliance.

“What we're finding is that jobs are coming back, horse racing related expenditures are up, and tax revenue to the state is increasing,” said John Hannum, Executive Director of the Virginia Equine Alliance. “These are all very positive signs that the racing industry is moving in the right direction and benefiting the Commonwealth's agribusiness and related businesses. Racing was at a low point in 2014 after the closure of Colonial Downs' racetrack. The General Assembly took a number of steps, most notably the passage of Historical Horse Racing machines in 2018, that provided the revenue to re-open the track and fund the revitalization of the industry. The study points to the enormous strides the industry has made since 2014.”

Highlights from the study released by the alliance Monday included: annual horse-related expenditures by Virginia horsemen estimated at $239.44 million in 2019; overall total in state tax revenue for 2019 estimated at $26.5 million; estimated total economic impact of horse racing events and visitor spending in Virginia was $68.7 million in 2019; jobs supported in 2019 by the horse racing and breeding industry estimated at more than 5,000; the average amount spent by horsemen in Virginia to care for, train, and board a race horse is estimated at $14,663.

Chmura Economics and Analytics (Chmura), a research consulting firm in Richmond, VA, conducted the study.

The Virginia Equine Alliance is a a non-profit, 501(c)6 organization comprised of the Virginia Harness Horse Association, Virginia Horsemen's Benevolent & Protective Association, Virginia Gold Cup Association and Virginia Thoroughbred Association. Its primary mission is to sustain, promote and expand the horse breeding and horse racing industry in the Commonwealth of Virginia.

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Aiken Equine Rescue Rebuilding After Fire

A fundraising effort has been launched to help Aiken Equine Rescue, where a barn was destroyed by an Apr. 3 fire.

There were no Thoroughbred retirees in the barn at the time. A pony was rescued and is currently undergoing treatment for thermal burns, reports farm manager Caroline Mulstay.

“We were very, very lucky,” Mulstay said. “There was only the one pony in the barn and we were able to get him out. All of our horses at the farm live out in paddocks and pastures. The only reason we would keep horses in the barn is if there is a medical reason. We were very lucky everybody was healthy and able to live out in paddocks and pastures. A week before the fire, we had a full barn.”

Mulstay said the rescue did have insurance, but their policy will fall short of covering the losses, which, she said included about $200,000 in supplies and equipment. She said investigators have yet to come up with what caused the barn to go up in flames. Aiken Equine Rescue cares for about 40 Thoroughbred retirees.

To donate go to Aikenequinerescure.org.

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T.I.P. Championships Return in October

The Thoroughbred Incentive Program (T.I.P.) Championships horse show will return this Oct. 8-10 at Stable View in Aiken, SC, officials at The Jockey Club T.I.P. announced Monday. The 2020 event was a casualty of the COVID-19 pandemic.

A total of $60,000 will be up for grabs, with awards down to 10th place in 30 divisions spanning hunters, jumpers, dressage, a combined test, Western dressage, English pleasure, and Western pleasure. For the first time, the event will also offer in-hand championships.

We are delighted to be able to bring the T.I.P. Championships to Stable View for the first time and to celebrate Thoroughbreds in a region that has historically supported the breed,” said Kristin Werner, senior counsel for The Jockey Club and administrator of T.I.P. “We will be celebrating 10 years of the Thoroughbred Incentive Program at a venue that has been supporting the program by offering awards at their events. After being forced to cancel last year's show due to the pandemic, we are looking forward to an event that will be bigger and better than ever.”

To qualify for the Championships, a T.I.P. eligible Thoroughbred must (1) participate in a show offering T.I.P. high point awards, classes or divisions beginning Aug. 1, 2020 through Sept. 5, 2021; or (2) participate in Take2 divisions beginning Aug. 1, 2020 through Sept. 5, 2021; or (3) be entered in the 2021 RRP Mega Makeover; or (4) have been qualified and declared for the 2020 T.I.P. Championships; or (5) have participated in the 2020 T.I.P. Performance Awards; or (6) be accepted through a hardship request.

For more information about the T.I.P. Championships and eligibility, please visit www.tjctip.com/About/CSI. The full class list is available at www.tjctip.com/About/CSF.

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Old Friends to Host ‘Homecoming Lite’

Old Friends Retirement Farm in Georgetown, Kentucky, is set to host its 16th annual Homecoming event Sunday, May 2, from noon to 3 p.m. Dubbed 'Homecoming Lite,' the event will be restricted to 125 pre-paid guests owing to the ongoing COVID-19 pandemic.

Tickets are $25 for the general public and will not be available for purchase on site. Members of Old Friends are free and children under the age of 10 are not permitted.

While the traditional silent and live auctions will be missing from this year's event, the art tent will feature photography, framed prints, pottery and more. There will also be a book table, yard sale and a collection of Kentucky Derby glasses. Food will not be served, but beverages will be available.

Reservations can be made online by visiting the Old Friends website at www.oldfriendsequine.org and clicking the booking button or by clicking here.

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