Economic Study: Equine Canada Horse Racing Economics Study
OHRIA Economic Impact Study 2010
OLG Supports the Slots at Racetrack Program:
“Payments to racetracks and horse people are a major economic stimulus for the agricultural industry in Ontario, with spin-off benefits for workers who stable and provide care for horses and the farmers who supply feed.”
A Strong Horse Racing Industry Makes a Strong Ontario:
- 31,441 full time job equivalents exist in Ontario directly because of the Horse Racing Industry.
- It is estimated a total of 60,000 Ontarians are employedeither full time, part-time or seasonally as a result of the Horse Racing Industry in Ontario.
- A total $1.5 billion in wages and salaries in Ontario are sustained annually by total expenditures of the Ontario horse racing and breeding industry. This total is 50% larger than the $1 billion in 2000.
- The effective average direct wage is $47,145 (racetrack operations) and $55,035 at the racing phase (backstretches and farms). These wages are not much different from some of the highest industrial wages in Ontario and compares closely to the Tourism industry at $55,000.
- Direct and indirect investment stimulates local economies with demand for products and services in rural Ontario provided by veterinarians, blacksmiths, hay and grain supplies, transportation workers and harness and saddle makers.
Horse Racing and Breeding is Big Business in Small Communities:
- The Ontario Horse Racing Industry spends approximately $2 billion dollars per year on goods and services relating to their trade.
- 80% of that money ($1.6 billion) is spent primarily in rural, agricultural communities.
- Hosting a racetrack is a real boon for municipal governments who receive approximately 5% of slot revenue for local programs, sports teams, roads & bridges and emergency services.