Wednesday, August 18, 2010

Loss of state support may end horse racing in New Jersey

New Jersey property owners are already hit hard by the state of New Jersey’s economy.  Taxes, taxes, and taxes head the list of complaints.  Now, a double-edged sword is being raised at one of N.J.’s homegrown businesses—horse racing.

According to a special report in the Asbury Park Press,
“Those in the New Jersey equine industry say the horse-racing business generates $780 million annually for the state's economy, responsible for more than 6,500 jobs.
“But with Gov. Chris Christie's proposal to shift the state's focus from horse racing to the casinos in Atlantic City, local horse farmers and other business owners worry the equine industry would lose its vitality or dissipate altogether.
"’People in the sport are going to go where horse racing is viable,'' said Tim Clevenger, 26, who tends to standardbreds every morning at a Manalapan farm.”If not here, they're going to race someplace else or get out of the game.’''
OK, so just how does this affect the quality of life in New Jersey?  Well, some will say that the 176,000 acres of real estate now being used for horse farms and related purposes will be, here comes the dirty word, developed into housing. 

In addition,
“In a study headed by Karyn Malinowski, director of Rutgers' Equine Science Center, the state's equine industry was valued at $4 billion, much of it related to racing. It generates $1.1 billion ($780 million from racing) annually in positive impact on the state economy, the study said, and is responsible for 13,000 jobs, more than half of which are generated by racing-related interests, such as race tracks, and horse breeding and training facilities.”
Read the full story.

If you have questions about what you see here, contact
Stephen M. Flatow
Stephen's Title Agency, LLC

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