Kentucky Horse-Racing Commission to Award $18 M in Incentives

FOR IMMEDIATE RELEASE CONTACT: Jamie Eads

Breeder Incentive Fund Distributes Over $18 Million in Awards

Awards breeders who stay in Kentucky

FRANKFORT, KY (March 27, 2009)  The Kentucky Horse Racing Commission (KHRC) announced today that the Kentucky Breeders' Incentive Fund will distribute over $18.7 million in awards for 2008.

The fund, established in 2005, ensures the strength and growth of the horse industry in Kentucky. It is financed through the 6 percent sales tax paid for breeding a stallion to a mare in this state.

The breeder incentive programs continue to be a significant benefit to the industry and we are thrilled for the opportunity to offer over $18 million in financial rewards to those individuals supporting the industry and the economic growth of the horse industry in the commonwealth of Kentucky, said Lisa Underwood, executive director of the Kentucky Horse Racing Commission.

Eighty percent of the money collected goes to breeders of thoroughbreds with 13 percent and 7 percent going to the breeders of standardbreds and nonrace breeds, respectively.

The Kentucky Thoroughbred Breeder Incentive Fund (KBIF)

The KBIF received over $15 million to be distributed in awards for the 2008 racing season. The KBIF requires owners to board mares in Kentucky from the time of breeding until the birth of the foal. Incentive payments are based on the foals eventual winnings on the race track. The KBIF awarded 4,119 races in Kentucky, across the U.S. and group one international races in Canada, England, France and Ireland.

The Kentucky Standardbred Development Fund (KSDF)

The KSDF received $2.4 million for the Kentucky Sire Stakes (KYSS) program, which consists of three $25,000 legs and a $300,000 final for two- and three-year-olds. Races will run at The Red Mile in Lexington, Ky., on Aug. 9, 17 and 27 for two-year-olds and Aug. 10, 20 and 30 for three-year-olds. The $300,000 finals will be run on Sept. 6, 2009. The KYSS rich purse payouts have resulted in award winning stallions standing in Kentucky, including Deweycheatemnhowe.

The Kentucky Horse Breeders Incentive Fund (KHBIF)

The KHBIF received $1,315,708, which will be split proportionately among the 11 nonrace breeds. The Kentucky Quarter Horse Association, representing the largest nonrace breed in the state, received $428,927 and the Paso Fino, representing the smallest breed in Kentucky, received $13,579.

For more information on the breeder incentive funds, including 2008 award winners, statistics on the races awarded, KYSS race dates and nomination deadlines, or nonrace allotments to each breed, visit the Web site at www.khrc.ky.gov or contact Jamie Eads by phone at 859-246-2040 or by e-mail to Jamie.Eads@ky.gov.

(No wonder all the breeders (racing and AQHA) are moving to Kentucky. Perhaps this is one reason why Kentucky contributes more than any other state to the nations "unwanted" horse problem.)