"The horse industry has long been a signature industry in Kentucky, and this study provides compelling evidence that the industry and its greatest event, the Kentucky Derby, continue to make significant contributions to the quality of life in this region," Churchill Downs president Alex Waldrop said in a statement.The study also found that $29 million in tax revenue was collected during those the three-day period: $20 million to state government in Kentucky and Indiana, and more than $9 million for local and municipal governments in the two states.During a Kentucky Racing Commission hearing July 24, Waldrop said Churchill Downs doesn't have the capital it needs for major renovations. He noted that other sporting and entertainment venues in the region have spent far more than Churchill on infrastructure."We need a partnership with state government," Waldrop said at the meeting. "There's no other way to do it."
The third and final hearing on the state of Kentucky's horse industry is scheduled Wednesday at 1 p.m. at Papa John's Stadium in Louisville. The hearings may the set the tone for any legislation the racing industry attempts to put together for the 2002 session.