Kentucky Horse Park

This year marks the 30th anniversary that the Kentucky Horse Park began operations and welcomed its first visitors to the equine facility.  It was the first in the US and as such was uncharted territory for a new venture to attract persons to KY.  The Kentucky Horse Park has become a tremendous attraction for not only Kentucky and the entire Midwest - but for the world as well.  The horse park is booked through the end of 2010.  And is turns down the opportunity to host approximately 25 equestrian events a year.

In preparation for hosting the 2010 World Equestrian Games, there is currently an ongoing $63 expansion project which includes a $49 million 6000 person indoor arena, and a $24 million outdoor facility that will accommodate 8000-10000 persons.

If you lookat the financial side of things, the Kentucky Horse Park receives approximately 15% of its budget from the state to subsidize its very large operating expenses.  [Care and maintenance for all of those horses and 1200 acres ain't cheap!]  But with an annual budget of $7.2 million, its not grossly out of line as much as you might expect.  And its especially doing well if you compare it to some of the other horse parks in other states like Florida, Virginia, Georgia, North Carolina, Connecticut or Indiana.  Those are almost entirely state funded facilities - and they simply don’t compare to the all inclusive KY Horse Park.  Over 30 equestrian organizations hold their headquarters at the KY Horse Park.  Virtually any style of riding, indoor / outdoor / covered arena, and breed is represented at the park.  Many other horse parks try to lower their expenses by only offering outdoor arenas w/o covers.  Sure, its cheaper on the maintenance side of things, but it really probably lowers the overall visitor experience to the facility.

Still, even with the state of Kentucky injecting some monies for the operational side of things, the KY Horse Park does generate overall positive cash flow for the Lexington metropolitan area.  Visitors stay at the hotels, dine at the local restaurants, purchase gas and other necessities, etc.  All of which pumps money into the local economy that wouldn’t otherwise normally be available.