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$136 spent per person per day. Be~ause these expenditures are primarily for tourist services. we assume that 82% of expenditures will impact the local economy. The remaining 18% wi,11 go to vendors who travel to the county for these events, and are therefore not considered "local.11 Findings of the Impact Model We applied the impact model only to the results of Scenarios 3 and 4, the "most likelt feasibility models; both were based upon the same starting numbers of horses across the years of analysis. As the Impact model results are linear functions of the number of horses and therefore visitors. impacts for the other feasibility runs can be easily calculated. Table 9 shows the logic and results of the model. let us use the Year Six co1u·mn to show the impact of the horse park ln its maturity stage. DJrect participant expenditures of $7,334,838 are shown on line 1; these are comprised of the number of hors~s. times the number of participants per hors~. times the spending at $138 p~r day. Line 1 is next margined at 95% to reflect the fact that 95% of participants are from outside the county. (Expenditures by In-county participants are netted out as It is assumed that this money would be spent in the county even without the horse park.) This 111arglning yields the $6,968,096 in line 2, spending by participants on the local market. Line 3 gives the $347,540 of expenditures made by the horse park administn:ltion; it is calculated by multiplying horse park expenses by 48% to account for expenses that flow Into the local economy; the remaining 52% will be spent outside the local area. The sum of these two categories of local expenses (local spending by participants, shown in line 2 plus spending on horse park operations, shown on line 3) appears as $7,315,636 in line 4 as local total direct expenditures. These, in tum are multiplied by the local (county) multiplier of 1.15 to yield local total impacts, shown lil line 5. This number, $8,412,982 represents the total money flows, including indirect and induced effects in the local economy that are attributable to the horse park. Using the employment multiplier of 17 jobs per million dollars of direct expenditures glves us 41 •':',