An Economic Impact Study of the Alabama Horse Industry

Abstract

This thesis evaluates the economic impact of the Alabama horse industry. Budgets have been developed for three separate levels of horse care described as low, moderate, and high cost. The budgets along with the population estimate are used to determine total expenditures for different categories of expenditures. The horse industry is responsible for an estimated $2.084 billion in total economic output for Alabama. The horse industry supports many recreational and agricultural services and was estimated to contribute to almost 24,000 jobs in the Alabama economy. A cluster analysis shows there are differences in the average cost spent per horse by horse owners and the levels of utility they get from their horse(s).