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Study: Racing Beneficial To Alberta Economy

Published: February 25, 2020 5:32 pm ET

Last Comment: February 26, 2020 11:30 am ET | 1 Comment(s) | Jump to Comments

On Tuesday, February 25, Horse Racing Alberta announced the results of a study that investigated the economic impact of horse breeding, raising and racing on the province. According to the results of the study, the impact is greatly beneficial to Alberta’s economy.

The study was prepared for HRA by Serecon Inc.

The findings revealed that the economic benefit amounted to $312 million in 2019, which represents a seven per cent increase from the impact value from the 2015 analysis.

Positive economic impacts depend on a number of factors, including initial expenditures made by horse owners in breeding, raising and racing horses, as well as expenditures that are made at horse races.

After accounting for all expenditures related to horse racing, Serecon concluded that the direct expenditures in the horse racing industry totalled $157 million in 2019. In addition, indirect and induced expenditures further contributed $155 million to the Alberta economy.

The results of the study, ‘The Economic Impacts of Horse Breeding, Raising, and Racing in Alberta (2019),’ appear below.

(With files from Horse Racing Alberta)

February 26, 2020 - 11:30 amI'm neutral in this, because

Mike Mobley SAID...

I'm neutral in this, because I live in The States, not Alberta, but it seems to me that if horse breeding, raising, and racing is beneficial to Alberta's economy, then the racetracks in Alberta should be granted some sort of tax relief, or the province's
Government should subsidize the purses of the races.

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