National and state economic impact

Nationally, the horse industry directly contributed approximately $50 billion to the U.S. economy in 2017 and directly created 988,394 jobs with wages, salaries and benefits totaling an additional $38 billion, according to the American Horse Council website, www.horsecouncil.org/ economics/. The direct effects create ripples in other sectors of the economy that are estimated to contribute a total of $122 billion to the U.S. economy and create 1.7 million jobs.

Approximatley 65,000 households in Arkansas own a horse or other equine, and the equine population of Arkansas is estimated to be 168,000, according to the Arkansas Farm Bureau website, www. arfb.com. The average cost of horse ownership in the state is about $3,000 per year, it states. Horse owners must pay the costs of ownership, whether or not they are actively competing in rodeos or other equine events.