The New York State Center for Equine Business Development at Cazenovia College will spearhead a coordinated statewide approach to the industry's needs, including securing grants and other support to organize training programs, hosting clinics with nationally known professionals, organizing industry trade fairs, and establishing data banks to assist members of the equine community in accessing the latest and most accurate information related to the management and growth of their businesses.
The new Center will be housed at Cazenovia College's nationally recognized Equine Education Center, in a geographic area tagged as "Equine Alley" because of the high concentration of horse farms and equine related businesses that contribute to the state economy and support a growing percentage of the region's workforce. The Center will strengthen and sustain the equine sector of the state's economy by tapping the knowledge of equine experts and a network of national and international advisors.
Equine-related businesses now account for $2 billion of New York State's annual economic activity, nearly a 100% increase in the last 18 years. The industry supports approximately $169 million in wages annually - representing nearly a 100% increase in just five years. Moreover, the value of investments in equine-related assets currently exceeds $10 billion in New York State. Nationwide, the equine industry is as big as Hollywood.
The Center will be a clearinghouse for equine business-related solutions, fostering job growth in existing enterprises and entrepreneurial growth throughout the state. As a "think tank," the Center will identify ways to improve business functionality and highlight ways the state and local governments can improve sustainable equine industry growth.