Over the course of its 50-plus year history, the American Horse Council (AHC) has conducted numerous National Economic Impact Studies of the US horse industry, with the most recent study completed in 2017. The next study will take place in 2022. The challenges of 2020 and 2021 with the pandemic and its economic impacts on all aspects of our industry make the 2022 study all that more important and necessary.
Would you like to know how COVID has affected our Industry? With your support of the EIS, we can find out….
An economic impact study (EIS) examines the effect of an event or industry has on the economy and usually measures changes in business revenue, business profits, personal wages, and/or jobs. As a large, economically diverse industry, the United States horse industry contributes significantly to the American economy. Here are just a few of the many ways the AHC National Economic Impact Study is used:
- Educate decision makers/law makers on the economic impact of the equine industry nationally or locally
- Identify trends, and project/forecast indicators when used in conjunction with previous studies
- Pinpoint areas of growth in the industry to foster, and identify gaps that need attention
- Assess the demographics of the industry (age, income levels, etc.)
- Identify the monetary impacts the industry has on a community through tourism, jobs, etc.
- Inform possible decisions regarding business development such as construction or renovation of venues and trails, and determine viability of events
- Provide context to arguments and cases for legal defense, adverse legislation or regulation, or development or expansion that may negatively impact the industry
- Help fight for green space and public lands
Designing and preparing such a large study requires months of advance planning. As such, AHC is embarking on preliminary study design and fundraising this spring.
As AHC and the AHC Foundation (AHCF) are not government subsidized, nor do AHC or AHCF receive any funding through check off programs like some livestock groups. AHC relies on contributions, sponsorships and advertising to fund the study.
The National Study is expected to cost roughly $300,000 and we believe state break out reports will run $25,000 – $35,000 each.
The data from the EIS has been, and will continue to be utilized to make strong arguments for change within our industry, but we can’t do it without your support.
AHC has compiled Frequently Asked Questions (FAQs) that address why we need this study, what’s included and not included in the study, uses of the study results, why horse owners should complete the survey and other background information.
AHC will be providing media toolkits to help organizations spread the word about the study and the importance of completing the survey. We anticipate making those available in the coming weeks.
If you have questions or would like additional information, contact American Horse Council President Julie Broadway at firstname.lastname@example.org