An Update on the Benefits of HIEA to Texas
During a global pandemic, in the first year of implementation – and now into 2021, HIEA funds generated significant growth in all sectors of the Texas horse economy.
The Texas horse industry has seen great momentum through larger field sizes, increased purses, and renewed enthusiasm throughout the entire industry. In communities all across the state, horse shows, competitions and events are seeing increases in participation. There are many anecdotes about trainers, owners and breeders who had moved their business out of Texas now returning with the prospect of growth in Texas. Below is a snapshot of some of the outcomes.
Texas Accreditation Programs
The number of Texas Accredited Quarter Horses has increased 35.7% from 2019 to 2020.
The number of Texas Accredited Thoroughbreds increased 16.5% from FY 19 to FY 20.
Texas Race Meets
The Sam Houston Race Park 2021 Thoroughbred meet experienced a 28% increase in average daily handle at $2,242,808 on its live races.
The meet also consisted of more races this year, with 424 compared to 337 in 2020.
The average handle per race was $227,500, up from $182,244 at the corresponding meet in 2020.
In 2020, Retama Park experienced a 75% increase in the number of horses started in races.
In 2020, Sam Houston Race Park experienced an increase of 49% in total handle.
In 2020, Lone Star Park experienced an increase of 131% in the average daily handle.
Other Texas Horse Industry Indicators
The Texas Racing Commission experienced a 12.5% increase in licensees (many of which are occupational) from FY 19 to FY 21 (YTD).
The 2021 Texas Thoroughbred Association Texas 2-Year-Olds in Training Sale experienced a total sale of $2,907,700 (66% increase over 2019) and an average price of $32,671 (40% increase over 2019).
At this auction 89 of 104 horses were sold, and there was a tremendous degree of excitement and participation from the buyers who are optimistic about Texas racing.
The Southwest Reined Cow Horse Association had an overall 9.5% increase in show participants throughout 2020.
One first time roping event saw 184 entries.
* The horse industry, like many others, suffered substantial losses and hardship during the pandemic – yet, with HIEA, still experienced growth. In 2020 through a study conducted by Texas A&M University, over 78.5% of businesses reported a negative impact on their business and 20% of businesses reported a temporary reduction in employment.
* The HIEA was created by HB 2463 during the 86th Legislature in 2019 to help preserve the heritage and culture of the Texas horse industry – but also to spur growth in the state’s horse and agricultural economy by reinvesting up to $25 million dollars annually that comes from the purchase of horse-related goods.