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ECONOM I C IMPACTS <br />One means by which other facilities justify operating grants is through their imp~cts <br />upon local and regional economies. Th~refore, an impact model based upon <br />expenditures of the horse park participants and expenditures for horse park operations <br />was developed to estimate financial flows to both the local and state economies and to <br />local and state finances. Using the ·most likely" scenario at year six maturity, the <br />following impacts are projected: <br />• The direct spending by exhibitors and spectators are estimated to be $7,334,838 <br />when the facility reaches maturity In the sixth -year of operations. <br />• The total money flows attributable to the horse park in the sixth year,. including <br />indirect and induced effects, are $8,412,982 annually. <br />• Using the employment multiplier of 16 jobs per million dollars of direct <br />expenditures projects, 143 jobs will be created by the horse par:k after the direct. <br />indirect and Induced effects are factored in. <br />• Starting at the sixth year, ~nnual state impacts from out of state residents were . <br />found to be $1,466,968 of direct, indirect and induced spending. <br />• The recreational services sectors will be the sectors most affected by Horse Park <br />operations. <br />ORGANIZATIONAL STRUCT URE <br />We recommend that: <br />51