Horses mean millions to Aiken’s economy
A recent study of Aiken’s equine industry shows that the area’s 135+ year-old affair with horses is alive, well, and BAH riding high. The popular industry continues to attract horse enthusiasts from around the world, and the number of equine disciplines has grown – and so has the economic impact of this historically revered industry in Aiken.
A 2008 study, “An Economic Profile of Aiken County and the Economic Impact of the Equine Industry,” done by the University of South Carolina Aiken (USCA) School of Business for the Greater Aiken Chamber of Commerce, reveals the following:
The equine industry’s economic impact in Aiken County tops $71.81 million.
The annual cost per horse in Aiken County tops $7,393, which amounts to $50.16 million in total spending produced by the equestrian sector. That spending leads to $11.76 million in indirect effects and $9.89 million in induced effects for $71.82 million in gross receipts.
In total, 1,814 jobs in Aiken County can be attributed to the operations of the equestrian industry.
The industry accounts for 1,329 full time employees. An additional 283 jobs are a result of indirect effects, and 202 jobs result from induced effects of the industry.
The impact of the equestrian industry on household income is estimated to be $19.71 million annually. There are $16.93 million in income effects that result directly from the local equestrian industry. Indirect household income linkages account for an additional $2.09 million, and the induced effects are an additional $217,513.