FRANKFORT, Ky. (May 4, 2023) – Ahead of the Kentucky Oaks and the 149th running of the Kentucky Derby, Gov. Andy Beshear invites visitors to celebrate the spirit of the Bluegrass State by enjoying the world-class horse racing and bourbon industries and Kentuckians’ hospitality.
“We welcome visitors to Churchill Downs for ‘the most exciting two minutes in sports,’ and every year the people of Kentucky show the world why our commonwealth is unlike any other place on Earth,” the Governor said. “We have the best horse racing, bourbon and hospitality, and these industries help support our state’s booming economy.”
According to the Kentucky Thoroughbred Association, the equine industry generates $6.5 billion annually in direct and indirect economic activity in the state, with the Thoroughbred industry alone providing about $115 million in tax revenue for the state. Even better: The equine industry provides about 60,500 jobs for Kentucky families.
“That’s 60,500 more of our people who have the security and dignity of a good-paying job because of this great industry,” Gov. Beshear said. “As Governor, I will always recognize these contributions and make this industry a priority.”
The Governor also highlighted support for the industry through Kentucky Thoroughbred Breeders’ Incentive Fund. In February of this year, the Kentucky Horse Racing Commission announced the release of 2022 program funds totaling $17.4 million.
“The Kentucky Thoroughbred Breeders’ Incentive Fund accomplishes its mission of keeping mares and foals in our beautiful state, bolstering our billion-dollar-strong equine industry and providing more than 60,000 jobs for hardworking Kentuckians,” Gov. Beshear said.
He noted the amazing success Kentucky horses continue to enjoy.
“Look, we know that Kentucky is the Horse Capital of the World for a reason,” the Governor said. “One hundred and thirteen of the 148 Kentucky Derby winners have been Kentucky-bred. This year, 17 of the 20 horses entered in the big race and 12 of the 14 horses running in the Kentucky Oaks were born in Kentucky.”
Kentucky is also famous for its signature bourbon and hospitality industries.
Last year, was the bourbon industry’s best year ever for growth, with $2.1 billion invested and 700 new jobs created. Experiences like the Kentucky Bourbon Trail set a record for visitors.