The BC Standardbred Association has announced that the results of a size and scope study commissioned by the BC Horse (thoroughbred and standardbred) Racing Industry will be presented tonight at Fraser Downs.
According to a story on the BCSA website, the horse racing industry is a complex mix of sport, business, entertainment and community, rolled into a product and pastime enjoyed by many.
In British Columbia, the racing industry operates within complexities that are not common in other parts of the world. This does not make the BC structure incorrect, however it does pose unique and specific challenges to racing participants, associations and track operators.
In a size and scope study commissioned by the BC Horse (Thoroughbred & Standardbred) Racing Industry as the initial project for the BC Horse Racing Industry Business Plan Development, Australian company IER Pty Ltd. has found that although there is already a significant amount of research into the economic importance of the racing industry in BC, many of these studies have fallen short of developing a complete conceptual framework of the industry. IER says that "such a concise industry definition forms a pillar of any such work, allowing meaningful analysis and measurement as an industry and for the various sectors and stakeholders involved."
The consultants believe that essentially the industry must encompass all activities for which the racehorse is the key focus as well as the business and activity which occurs, at least in part, to cater for this industry.
IER will present a detailed outline of the 'racing industry' concept as part of their report to the BC Horse Racing Industry tonight at the Surrey track.
The size and scope study has been developed after an exhaustive information gathering process by the company.
IER's findings are the result of studies conducted in BC earlier this year. They researched the BC horse racing industry --- going out into the workplaces of industry participants, racetracks, breeding farms, peak racing associations and regulatory bodies with face to face interviews, on-line research, customer research and participant research and in tandem conducted a financial and economic review of the industry.
(With files from the BCSA)