Kentucky Horse Breeders Incentive Fund
The Kentucky Horse Breeders Incentive Fund was opened up to many non-racing breeds in early 2007. These incentives can be substantial for horses bred, foaled in KY and that perform well within their respective breed!
To give some background on the topic, the Kentucky Equine Education Project (KEEP) has been quite successful since its launch in 2004. In 2005, the Kentucky Horse Breeders Incentive Fund was introduced. In short, the Kentucky horse breeders incentives are funded through the sales taxes from stud fees.
The funds are then given back as monetary awards to Breeders based on their horses performance in their respective industry. As an example, for Thoroughbred horse owners - the money awarded is based on how well they performed on the track. The non-racing breeds are awarded based on a point system within their respective associations.
Recently, in addition to thoroughbreds, many other breeds were granted funding and provided incentives in this program.
Those additional breeds and associations include:
Kentucky Appaloosa Owners Association
South Central Hackney Association
Kentucky Morgan Horse Association
Kentucky Mountain Horse
Kentucky Paint Horse Club
Kentucky Paso Fino Horse Association
Kentucky Saddlebred Owners and Breeders Association
Kentucky Walking Horse Association
Kentucky Quarter Horse Association
More breeds are likely to be added in the near future.
The funds are distributed to each association based upon the approximate number of registered horses within each association. And since its a self funded program, it helps create interest in horses and farms in Kentucky while being able to sustain itself without costing taxpayers any additional money. Its a win/win.
It appears that this program is working - and working quite well.
These incentives have created a tremendous amount of interest within the Kentucky horse farms and real estate industries. Many persons across the country are now wanting at least a satellite farm for breeding and foaling purposes in Kentucky. Some are relocating their entire horse breeding business to Kentucky.
KEEP estimates that the horse industry’s economic impact is $4 billion annually. KEEP currently has membership of over 11,000 persons and representatives that are team leaders in all 120 counties in Kentucky.
To search for
LOUISVILLE or LEXINGTON Kentucky farms for sale, click the following:
UPDATE:
The 2007 Awards have been announced and checks will be mailed in March 2008.
Read it all here: 2007 KY Horse Breeders Incentives Awards
Entries (RSS)