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economy. <br />The various State and County developmentagencies subscribe to a goal of creating <br />additional major tourist attractions.The Washington Horse Park would function in much <br />the same way as a major sports arena or concert center where people come from a <br />wide area in order to watch events.Tourism is an important industry because it brings <br />substantial revenue into the economy without significantly burdening local services, <br />particularlyschools. <br />An increased numberof equestrian eventswould also support those businesses in the <br />State serving the horse industry -farriers,feed and hay suppliers,veterinarians and the <br />like.Increased interest in horses could also be expected to result in increased business <br />for horse dealers,stables and tack shops.Economic models estimate that over 7%of <br />the Overall Economic Impact occurring in the State due to the Horse Park wouldflow <br />directly to the State in the form of taxes. <br />While these impacts were calculated using standard economic methodology,it must be <br />noted that most of the forecasted eventsat the horse park are transfers of existing <br />shows at other facilities.Only truly new events will create new spending,employment <br />and tax revenue. <br />VI RECOMMENDATIONSFOR ORGANIZATIONALSTRUCTURE <br />A major task of this study was to make specific recommendationsas to the appropriate <br />organizationalstructure needed to acquire control of the site,solicit funds to construct <br />improvementsand successfully operate the facility over the long term.In this section <br />we recommendan appropriate organization structure for the WSHP Authority Board of <br />Directors based upon our interaction with the managementof other horse parks,with <br />46