Incentive fund awards nearly $15.9 million To Kentucky breeders
Fund strengthens state equine industry, encourages Kentucky-breds
FRANKFORT, Ky. (WTVQ) – It’s a shared $15.9 million pay day for Kentucky’s thoroughbred horse breeders as the Kentucky Horse Racing Commission announced the release of the 2021 Kentucky Thoroughbred Breeders’ Incentive Funds (KBIF), totaling $15.9 million for Kentucky breeders.
“Every thoroughbred farm, big or small, contributes to the equine industry’s combined economic impact of $6.5 billion, which also employs 60,494 Kentuckians,” said Gov. Andy Beshear. “Kentucky is known as the ‘Horse Capital of the World’ for a reason and it’s important we support those in this industry to ensure its continued success.”
In fact, the Kentucky-bred horses won 315 group and graded wins, including Mystic Guide’s win in the prestigious Dubai World Cup, an international race that attracts horses from all over the world. This year winners of 4,412 races, including 299 graded races, received an award.
The KBIF was implemented in 2005 to ensure the strength of Kentucky’s equine industry by awarding funds to individuals who choose to breed a thoroughbred in Kentucky. To qualify, the resulting foal must remain in the state during gestation, and the final award amounts are based on the foal’s eventual earnings at the racetrack.
The KBIF is funded through a percentage of the sales tax paid when a stallion is bred to a mare in Kentucky. Since the fund’s inception, more than $200 million has been distributed to Kentucky breeders for winning eligible races worldwide. For a list of 2021 award winners and statistics, visit khrc.ky.gov/new_docs.aspx?cat=79.
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