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Maryland's Horse Industry Ponies Up Revenue

BALTIMORE (WJZ)-- Maryland's horse industry is calling more attention to itself than with the Preakness alone - bringing in more than $1 billion in economic activity this year.

Those numbers include nearly 6,000 full-time jobs supported by the state's horse industry. The Preakness may be the feather in Maryland's horse industry cap but breeding is the bread and butter.

The thoroughbred industry in Maryland is making a comeback according to a new study released Monday. Some of the credit goes to the state's gaming industry.

"By dedicating gaming revenues to horse breeding and to racing and it's paid off enormously," said Anirban Basu of the Sage Policy Group.

According to the Sage Policy Group, horse farming brings in more than $1.15 billion in economic activity, 23 percent higher than in 2010. There are 5800 full-time jobs, amounting to $500 million in employee income. In addition, 7 percent of the state's slots revenue is earmarked for the racing industry.

That slots revenue is a fast track for purse dedication and racetrack facilities, and while that's outside the findings of the report, it contributes to the overall health of the industry in the Mid-Atlantic.

"When allowed to compete on a level playing field, the Maryland horse industry wins in the Mid-Atlantic region and that translates into more jobs, higher incomes and more business sales," said Basu.

Saturday's Fall Festival of Racing at Laurel boasted a nearly 20 percent increase over the last year. At its current pace, the survey estimates by 2020 the industry's economic impact will have grown to a $1.5 billion a year.

Horses are considered a critical part of Maryland's agricultural industry. The study was sponsored by the Maryland Horse Breeders Association, now headquartered at Goucher College.

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