An economic impact study* by The Public Performance and Management Group at the Andrew Young School of Policy Studies at Georgia State University reports that legalizing pari-mutuel wagering would produce a broad range of economic benefits for our state. The study shows that horse racing would bring:
- Increased State Tax Revenues: A cautious estimate of impact on state coffers is approximately $50 million annually, which is the amount received by states that allow pari-mutuel wagering such as Kentucky and Louisiana.
- A Larger, More Robust Statewide Equine Industry: The equine industry, with its support businesses (feed production, training, farriers, veterinary services, equine products, etc.), would bring jobs to rural areas of the state where unemployment rates are high.
- Increased Tourism: Horse racing would enhance Georgia as a destination state, adding yet another activity to our state’s portfolio of tourism attractions.
Georgia currently has an equine industry of nearly 180,000 horses, and while horse racing—harness racing and steeplechasing—now exists in Georgia, the state does not take advantage of the tax revenues that pari-mutuel wagering would produce. The study says that such revenues would likely be significant. By allowing pari-mutuel wagering, Georgia would be growing an industry that is already well established.
Unlike other sports, such as pro football, baseball or basketball, where taxpayers are expected to underwrite the costs of the arena or stadium, tracks in Georgia would be built by private investors. Horse racing in Georgia would be self-sustaining.
Read the study.
* “The Possible Economic Benefits from Instituting Pari-Mutuel Wagering on Horse Races in Georgia,” by The Public Performance and Management Group at the Andrew Young School of Policy Studies at Georgia State University. February 2012
GEORGIA HORSE RACING COALITION