The Equine Industry's $670 Million Impact on the Local Region
Delaware Valley University released a new study on the equine industry's economic impact in Southeastern Pennsylvania.
DOYLESTOWN, PA (10/12/2017) Residents and tourists driving around Southeastern Pennsylvania are frequently impressed with the beauty of the area's pastures and horses, but many do not realize the full contribution of the equine industry on the region's economy. The equine industry spends $546 million on goods, services, wages, and salaries in Southeastern Pennsylvania. The impact of this spending generates $670 million to regional GDP, supports more than 6,550 jobs and generates $58 million in tax revenue. The sector also provides almost $160 million in annual payroll and plays a vital role in maintaining open spaces and agricultural production.
John Urbanchuk, chair of agribusiness at DelVal, directed the study. Dr. Sarah Young, chair of the DelVal animal science department; Cory Kieschnick, chair of the DelVal equine science and management department; and Christine Seel; co-chair of the DelVal business and information management department worked with Urbanchuk on the study.
The study was commissioned by the Chester-Delaware County Farm Bureau. The region in the study consists of Berks, Bucks, Chester, Delaware, Lancaster, Lebanon, Montgomery, Philadelphia, Schuylkill, and York counties. Southeastern Pennsylvania is home to two leading equine counties in Pennsylvania, Lancaster, and Chester.
The last study of the equine industry in Pennsylvania was conducted and published by Penn State in 2003 and examined the entire Commonwealth. The information from the study will be provided to policymakers, local government officials, equine industry professionals, and the general public.
Fast Facts about the Equine Industry's Economic Impact in the Region:
- The equine industry pumps $386 million in direct spending on goods and services into the Southeastern Pennsylvania economy.
- The industry provides an annual payroll of almost $160 million
- The equine sector supports 6,550 jobs in all sectors of the regional economy
- Taxpayers benefit from $58 million in tax revenue generated by equine activities.
Please note that this download link will expire on 10/18/17.