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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA new Purdue University study has put a price tag on Indiana's horse industry, finding that it generates more than $2 billion a year for the state's economy.
The study of the horse industry's 2010 impact found that horse racing generates the most revenue. But it also showed that people who enjoy riding and other horse-related activities for recreation comprise the industry's largest segment.
Lead author Susan Conners, who directs Purdue Calumet's Equine Business Management program, says the data show that the horse industry's various facets are "a vital part of Indiana's economy."
She says the study represents the first survey of the full spectrum of Indiana's equine entrepreneurship. Those horse-related businesses include breeding, boarding, riding lessons, veterinary care, feed and tack supply outlets.
Indiana's horse racing industry receives an annual subsidy of about $58 million, with 40 percent of it paid in purse money at horse tracks and the 40 percent going to promote horse breeding in the state. The subsidies come from riverboat gambling proceeds and a cut of slot machine revenue at the state's racinos in Anderson and Shelbyville.
The Indiana Inspector General recently recommended that the subsidy be cut by more than half.
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