Changes In The Horse Racing Industry And Impacts On The Indiana Economy: 2010 - 2014

Abstract

A survey of the horse racing and horse breeding industry in Indiana was conducted in 2014 and the economic impact of this industry on the Indiana economy determined utilizing an input-output model.  Comparing the results to an identical study conducted in 2010, there are some interesting comparisons especially considering the economic challenges facing the racing and gaming sector of the economy.  These changes and the economic impact of these changes on the Indiana economy are the substance of this paper.  Specifically, the racetracks in Indiana are under a single ownership and racing composition was changed.  In a challenging economy, the competitive horse breeding segment of the industry has also undergone changes.  The consequences of these changes on the Indiana economy are measured and compared with the earlier study.