Wexford/ Wicklow

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Wexford/ Wicklow WEXFORD/ WICKLOW THE ECONOMIC IMPACT OF BREEDING AND RACING IN YOUR REGION CONTENTS FOREWORD 04 REGIONAL ANALYSIS 06 THE ECONOMIC IMPACT 15 OF ONE RACEHORSE ECONOMIC IMPACT OF 17 BREEDING AND RACING IN IRELAND SUCCESS OF IRISH 20 BREEDING AND RACING REPORT PREPARATION 22 METHODOLOGY AND LIMITATIONS 2 HORSE RACING IRELAND ECONOMIC IMPACT STUDY: WEXFORD/WICKLOW DERRY WEXFORD/ DONEGAL ANTRIM TYRONE WICKLOW FERMANAGH ARMAGH DOWN MONAGHAN REGIONAL SUMMARY SLIGO LEITRIM 1,620 Direct, indirect CAVAN and secondary MAYO LOUTH ROSCOMMON employment LONGFORD 14,214 Attendees MEATH at racing WESTMEATH DUBLIN €84m Total direct and GALWAY stimulated OFFALY expenditure KILDARE €27m Bloodstock sales LAOIS WICKLOW by vendors CLARE CARLOW TIPPERARY KILKENNY LIMERICK WEXFORD WEXFORD KERRY WATERFORD CORK Racecourses HORSE RACING IRELAND ECONOMIC IMPACT STUDY: WEXFORD/WICKLOW 3 FOREWORD BREEDING AND RACING ENJOYS A RICH TRADITION OF SUCCESS IN THE SOUTH EAST. AS WELL AS SUCCESS ON THE TRACK AND IN THE BREEDING SHEDS, THE INDUSTRY PROVIDES OVER 1,600 JOBS IN WICKLOW AND WEXFORD AND OVER €80m IN ANNUAL EXPENDITURE. A THRIVING AREA FOR BREEDERS WITH OVER 1,500 MARES, THE REGION HAS BECOME A CENTRE OF EXCELLENCE FOR PRODUCING THE BEST YOUNG POINT-TO-POINTERS. 4 HORSE RACING IRELAND ECONOMIC IMPACT STUDY: WEXFORD/WICKLOW WEXFORD/WICKLOW It is a great privilege to introduce Deloitte’s Deloitte estimate in this new report that This document first provides a specific Economic Impact Study into the Breeding and Breeding and Racing is an integral part of overview of the contribution of horseracing Racing Industry in the South East, for the first the rural economy of Wexford and Wicklow, to the counties of Wexford and Wicklow. time capturing the contribution this industry contributing over 1,600 jobs in direct, indirect This is followed by an overview of the Irish makes to life – social and economic – in and secondary employment, and over €80m of Breeding and Racing industry including the counties Wexford and Wicklow. expenditure per annum. economic impact of the industry and the success of the industry on an international Two years ago, in spring 2017, Horse Racing There is a rich history of Breeding and Racing scale. Ireland commissioned Deloitte to quantify the in this area, one that the people of Wexford up-to-date economic impact of Irish Breeding and Wicklow should feel very proud of, and This document and Racing, and Deloitte’s report confirmed that tradition of excellence has fuelled a vital incorporates the incredible dividend provided by the rural industry. summarised findings industry with almost 29,000 direct and indirect from the Economic jobs across the country, and over €1.8 billion It all makes more relevant the issue of a long- Impact of Irish Breeding in expenditure. term and sustainable funding structure for and Racing 2017. the industry, which can allow it develop to its From that report in 2017 – a summary full potential, increasing both the economic The full report can be of which is contained at the back of this and social dividend for Wexford and Wicklow, downloaded at https://www. document – we were able to measure the and to that end we would ask politicians from hri.ie/press-office/economic-impact/ phenomenal international success of Irish- all parties to provide the necessary policy bred horses and its export reach. support for this to happen. Domestically, the report calculated that 92% Brian Kavanagh of the 6,777 registered breeders in the country Chief Executive have fewer than five mares, and with breeders Horse Racing Ireland in every county, trainers in most counties and 26 racecourses dotted around the country, it made sense to dig deeper and assess the impact of Breeding and Racing in counties and regions across Ireland, and explore the spread of that economic reach. HORSE RACING IRELAND ECONOMIC IMPACT STUDY: WEXFORD/WICKLOW 5 REGIONAL SUMMARY: WEXFORD/WICKLOW 1,620 14,214 DIRECT, INDIRECT AND SECONDARY ATTENDEES AT RACING EMPLOYMENT €84m TOTAL DIRECT AND STIMULATED EXPENDITURE €27m BLOODSTOCK SALES BY VENDORS 6 HORSE RACING IRELAND ECONOMIC IMPACT STUDY: WEXFORD/WICKLOW WEXFORD/WICKLOW THE WEXFORD AND WICKLOW REGION HAS A RICH HISTORY IN THE BREEDING AND RACING INDUSTRY, BEING BEST KNOWN FOR THE BREEDING AND TRAINING OF JUMP HORSES The presence of Wexford racecourse in the In predominantly rural regions such as A total direct expenditure of €41m is region also provides the opportunity for the Wexford and Wicklow, the Breeding and estimated to be generated in Wexford and local community to regularly attend fixtures, Racing industry does not only contribute Wicklow each year, the largest component whilst the Point-to-Point industry is well directly to the local economy through the being Breeding €29m (71%). represented, both in terms of racing staged c.700 full time jobs that it supports, but also and also the production of horses that develop through the many ancillary suppliers that into top quality National Hunt horses under rely on the industry for the majority of their Rules. business. HORSE RACING IRELAND ECONOMIC IMPACT STUDY: WEXFORD/WICKLOW 7 WEXFORD/WICKLOW Indirect Direct RACECOURSES Wexford 1 4 CODE Jumps 7 43 41 €41m €84m ATTENDANCES 2018 29 14,214 FIXTURES 2018 10 Breeders Betting Owners AVERAGE ATTENDANCE 2018 Racecourse 1,421 The €41m of direct expenditure in turn leads RACECOURSES The core racing industry to an additional indirect expenditure of €43m, The only racecourse in the region is Wexford, is estimated to employ composed of the secondary business-to- hosting Jump fixtures from March to October. business spending of suppliers to the core The course attracts in excess of 14,000 approximately 700 people Breeding and Racing industry and secondary attendees over 10 fixtures, with an estimated (FTE) in Wexford and consumer expenditure, as those people expenditure of over €1m attributable to their working in the core industry spend their on-course activities. The main components of Wicklow. wages on local goods, services and amenities. this are the general admissions and catering This results in a total economic impact on spend of racegoers, alongside media rights Wexford and Wicklow of €84m. payments for provision of pictures to the betting industry. In addition to the direct The core racing industry is estimated to on-course expenditure, racing in Wexford employ approximately 700 people (FTE) in generates approximately €0.3m of racegoer Wexford and Wicklow. off-course expenditure. 8 HORSE RACING IRELAND ECONOMIC IMPACT STUDY: WEXFORD/WICKLOW WEXFORD/WICKLOW OWNERS AND TRAINERS Racehorse owners represent the largest single contributors to the Breeding and Racing Stallions Mares Foals Bloodstock Sales industry via their purchase of bloodstock and 20 1,459 906 €27m subsequent expenditure on keeping horses in training. As well as supporting trainers and jockeys, other industries throughout the BREEDING The registered broodmare population of more Irish rural economy such as vets, farriers and The contribution of the Breeding industry to than 1,450 (11% of the Irish total) generates transport companies also ultimately rely on the direct economic impact of horseracing in further expenditure in the region and will the expenditure of Owners. In the Wexford and Wexford and Wicklow is behind only Tipperary include some mares owned not only by Wicklow region this will include transport via and the Midlands in significance. Total individuals from elsewhere in Ireland but also the port of Rosslare, local companies such breeding revenue of €29m constitutes 71% of internationally. The region’s mares produce as Keating Horse Transport and horse feed direct economic impact, with the majority of over 900 foals p.a., 11% of the Irish crop. companies such as GAIN (see case study). this revenue derived from bloodstock sales Whilst the majority of these will likely be sold of €27m. as foals or yearlings a proportion will also Horses in Training remain in the region as they progress into Of the c.8,700 horses in training in Ireland, The Irish Breeding industry is the first step racing and/or breeding careers. approximately 375 (4%) are trained in Wexford in the ‘production line’ of racing and is well and Wicklow. This number represents the represented in the Wexford and Wicklow. Over While the vast majority of Breeding revenue number declared in training at some point 750 breeders are registered in the region, in the region is generated from bloodstock of the year, so the total number of horses 12% of the total in Ireland, with the focus sales, Wexford and Wicklow are also home based at training and pre-training yards is on National Hunt breeding. There are also to 20 stallions which collectively generate likely to be higher than this as horses are a significant number of smaller breeding approximately hundreds of thousands of only required to be registered in training just operators, predominantly located in Wexford, euros each year from nominations. before being entered for a race. which collectively form an important part of the local economy. HORSE RACING IRELAND ECONOMIC IMPACT STUDY: WEXFORD/WICKLOW 9 WEXFORD/WICKLOW Envoi Allen, Samcro and Arkle winner Western Warhorse. There are many more like him from County Wexford producing top young horses including Donnchadh Doyle, Dennis Murphy, Sean Doyle, Liam Kenny and Cormac Doyle. Owners’ cost and prize money After bloodstock purchases, the majority of the expenditure of racehorse owners keeping horses in training goes to trainers. The trainers then pass it on to other stakeholders both within the core racing industry and elsewhere in the local economy. The total owners’ expenditure for horses in training in Wexford and Wicklow is estimated as €8m per annum (including point-to-point). HORSES IN TRAINING There are 53 trainers located across the two Financial return is not the main driver of 376 counties, representing c.9% of registered racehorse ownership, however prize money trainers in Ireland.
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