The US Horse Industry’s Economic Impact

Jimmy Winemiller is an accomplished, large-scale farmer who owns and manages farms in multiple states. He has also been active in the horse industry as a thoroughbred enthusiast. The previous owner of the thoroughbred farm Iron Horse Farm in Arizona, Jimmy Winemiller has bred and raised champion thoroughbreds.

 

In early 2018, the American Horse Council (AHC) Foundation released the results of its 2017 National Impact Study, which updates the foundation’s 2005 Economic Impact Study. The report noted that the horse industry’s direct economic impact on the US economy was around $50 billion, and that it directly provided 988,394 jobs. The industry was also responsible for $38 billion in direct salaries, wages, and benefits.

 

The horse industry’s impact trickles down to other economic sectors, and the estimated total horse industry contribution to the US economy amounted to $122 billion. This figure was $20 billion more compared to the 2005 study. Meanwhile, the industry’s total employment impact stood at 1.74 million jobs. The updated figures are important for the AHC to gain added attention in the nation’s capital. Through the study, the AHC hopes the general American public will become aware of the horse industry’s significant contribution to the economy.

Thoroughbreds and Other Horse Racing Breeds

Jimmy Winemiller has engaged in a variety of property development activities and real estate transactions over the course of his career, ranging from beachfront communities to large agricultural lands. Jimmy Winemiller is also involved in professional horse racing, at one point owning more than 100 thoroughbred horses.

Thoroughbred horses are one of the most popular breeds within the professional horse racing industry. In addition to the breed’s renowned speed and intelligence, thoroughbreds have a temperament that can be described as both friendly and competitive, making them an ideal racing horse breed, regardless of whether a rider is competing in a flat, steeplechase, point-to-point, or endurance competition.

That being said, thoroughbreds are far from the only popular horse racing breed. Arabians, for instance, were originally bred in the desert, and are now regarded as one of the most talented endurance racing breeds in the world. It should be noted that while Arabians make for good family horses, they are more hot-headed in temperament when compared to the average thoroughbred. Quarter horses, on the other hand, are best suited to flat races. In fact, the breed takes its name from the quarter mile flat. The versatility and loyalty of the appaloosa, meanwhile, makes the breed a fitting choice for flat and barrel competitions. Additional horse breeds that excel across various event types include the standardbred and the French and Orlov trotters.

Finally, the Shetland pony deserves to be compared to other racing breeds. While the Shetland would struggle to keep pace with a thoroughbred, they are still very fast animals and can serve as excellent training companions for young and undersized riders, as demonstrated at the annual Shetland Pony Grand Nationals event, which features riders as young as 8 years old.