Minnesota Horse Council
For Immediate Release March 20, 2017
Fundraising for Economic Impact Study Gets Underway The American Horse Council currently has a campaign underway to raise funds for an Economic Impact Study of the National Horse Industry. Minnesota has the opportunity to do an individual state breakout and the Minnesota Horse Council is raising funds for our state breakout.
What is an Economic Impact study? An economic Impact Study examines the effect an event or industry has on the economy. It usually measures business revenue, business profits, personal wages, and/or jobs. A study of the horse industry will document the economic effects of the racing, showing, recreation and other segments of the horse industry on the state and national economy. It will also provide invaluable demographic data, and insights into professions and related industries that are impacted by equine ownership.
Why does the horse industry need a study? Anecdotes have their place, but when it comes to proving our economic impact, we need credible proof. An Economic Impact Study will put data behind the economic and social benefits of the industry.
How much will the study cost? Proposals to conduct the study place the costs at roughly $500,000 for the national study and $20,000 for individual state breakout studies. Where does funding come from? Past studies (1996 and 2005) were funded by organizations and individuals in the equestrian industry. For the 2017 Study AHC also plans to apply for several grants to help underwrite the expense.
The Minnesota Horse Council has created a committee which will be seeking contributions to go toward this endeavor. The goal is to raise $20,000 in 2017.
For more information contact info@mnhorsecouncil.org.
Contact: Trina Joyce (612) 729-7798 or trinajoyce@mnhorsecouncil.org.
All contributions to the MHC Foundation are tax-deductible. The MHC Foundation is a Section 501(c)(3) organization under the Internal Revenue Code.