LEXINGTON, Ky. — A recent economic impact study conducted by the University of Louisville reveals that the Keeneland Race Course contributes approximately $1.6 billion to the local economy. This extensive analysis covers Keeneland’s racing operations, annual Thoroughbred auctions, related business lines, and ongoing construction investments.
According to the findings, a significant portion of this economic impact derives from visitors outside of Kentucky. About 64% of racing attendees are from out-of-state, and 67% of those participating in horse auctions also come from outside Kentucky. Furthermore, remarkably, 24% of these auction visitors are from international locations.
“Keeneland’s location in the heart of horse country allows us to serve as a global hub for the Thoroughbred industry,” stated Keeneland President and CEO Shannon Arvin. This sentiment underscores Keeneland’s role in promoting both the equine industry and the surrounding Central Kentucky community.
Governor Andy Beshear also remarked on Keeneland’s significance, stating, “Keeneland is a world-class destination that every Kentuckian, visitor, and horse enthusiast loves to visit. It’s no surprise this Kentucky treasure is also a huge economic engine, generating $1.6 billion in economic impact each year for Lexington and our entire commonwealth.”
The study, led by UofL Economics Professor Thomas E. Lambert, assessed multiple facets of Keeneland’s operations, which include not only horse racing and auctions but also year-round special events and guided tours. The detailed evaluation showcases how Keeneland functions as a vital link between the region and the global equine community.
This economic impact is not just vital for Keeneland but for local businesses as well. As visitors flock to the area, they support hotels, restaurants, and various related services, fostering growth in the entire region. Keeneland’s business model emphasizes its commitment to enhancing the local economy while promoting the equine industry worldwide.
In summary, the University of Louisville’s study highlights Keeneland’s pivotal role in not only supporting the Thoroughbred industry but also acting as an economic powerhouse for Lexington and its neighboring areas. This reinforces Keeneland’s mission to bolster both local and global initiatives in the equestrian sector for generations to come.
