Southeastern Pa. Equine Industry Has A $670 Million Economic Impact, Says Study
PHILADELPHIA (CBS) - A new study is out showing there is a lot of horsing around in the region.
The equine industry in Southeastern Pennsylvania generates $670 million to the regional economy. That's the findings of a study commissioned by the Chester-Delaware County Farm Bureau.
John Urbanchuk, chair of agribusiness at Delaware Valley University, directed the study.
"We got an industry that really, really has an important economic contribution," said Urbanchuk.
He says there are 50,000 equine in the region. That's 9 percent more than five years ago, with the largest population in Lancaster and Chester Counties.
"Everywhere I looked, I found horses. When you think about all of the activities that support them, we are talking about feed, we are talking about hay, but then there are a whole host of services veterinarians, fencing equipment, all of that spending if you will, reverberates through the economy," said Urbanchuk.
The study shows the equine industry pumps $386 million in direct spending on goods and services.
It supports more than 6,500 jobs in all sectors of the regional economy, and taxpayers benefit from $58 million in tax revenue generated by equine activities.