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New research shows Maryland horse racing industry rebounding

After years of decline, Maryland's horse industry has rebounded and is generating $1.1 billion a year — 23 percent more than in 2010, a new study says. The study, released Monday by the Sage Policy Group, concludes that the industry — which has a ripple effect on the state's economy — is "finally moving in the right direction" but hasn't come all the way back to its early 2000s highs.
"Despite the uptick in activity in recent years, Sage estimates that industry spending remains 13.5 percent below its 2002 level," the study said. "If one adjusts for inflation, that figure rises to more than 34 percent. In other words, Maryland's horse industry is still healing."
But most of the study's news was positive. At the current rate of expansion, it said the industry would be expected to have a $1.5 billion annual impact on the state by the end of 2020 and support more than 11,000 jobs. In 2015, it supported about 9,100 full-time equivalent jobs with compensation totaling about $482 million, the study said.
The recent success of breeding operations is an important component of the industry's revival.


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