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economy. <br />The various State and County development agencies 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 significanUy burdening local services, <br />particularly schools. <br />An increased number of equestrian events would also support those businesses in the <br />State serving the horse industry -farriers, feed and hay suppliers, veterinarJans 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 would flow <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 events at the horse park are transfers of existing <br />shows at other facilHles. Only truly new events will create new spending, employment <br />and tax ·revenue. <br />VI RECOMMENDATIONS FOR ORGANIZATIONAL STRU~TURE <br />A majQr task of this study was to make specific recommendations as to the appropriate <br />organizational structure needed to acquire control of the site. solicit funds to construct <br />improvements and successfully operate the facility over the long term. In this se~tlon <br />we recommend an appropriate organization structure for the WSHP Authority Board of <br />Directors based upon our interaction with the management of other horse parks, with <br />46