Powell Supports Horse Racing, saying it could boost Ga's Economy by $1 Billion

In a press conference yesterday at Chukkar Farms, JB Powell, the Democratic Candidate for Commissioner of Agriculture, publicly expressed his support for horse racing in Georgia, which could boost Georgia’s economy by $1B, create between 10,000 and 20,000 jobs and increase tax revenues to help offset state budget cuts without raising taxes on hard working Georgians.

“I support growing our economy, creating thousands of jobs and increasing state tax revenues through legalizing horse racing in Georgia” said JB Powell. “Georgians deserve to have a Commissioner of Agriculture who will fight for common sense ideas that will help lead Georgia out of the economic challenges we face.”

Georgia is well poised to receive a large economic boost from horse racing as Metro Atlanta has the 3rd highest rate of horse ownership in the United States behind Ocala, FL and Lexington, KY according to the American Horse Council. Racetracks could open in Georgia between 2013 and 2014, but horse farms would begin operations as soon as horse racing became legal in Georgia in order to be ready for when racetracks open bringing an immediate boost to Georgia’s rural economy.

Hannah Flynn, an accountant with Equine Financial Services, adds “Right now, the economic impact from horse racing is traveling through Georgia between Florida and the Eastern U.S. and we aren’t receiving any of that benefit, but we are well poised to take advantage of it if horse racing is allowed in Georgia.”

Ed Gadrix, Executive Director of the Georgia Equine Education Project (GEEP), and a thoroughbred owner who races horses in Florida, Kentucky, Ohio and Indiana, said, “I’ve heard numerous big time trainers, jockeys and owners say they’ll move their entire operation to Georgia if we ever get horseracing. J.B. Powell is right on target with creating these jobs and revenue for Georgians.”

Horse racing is a $12.3B industry in the United States with average revenues of $384M in each of the 38 states that support horse racing. Eight states have an economic impact of $1B or more from horse racing. Studies by Deloitte & Touche show that Florida receives $2.2B in economic impact and 55,000 jobs due to horse racing.