Independent Agency Hunden Strategic Partners Highlights Opportunity for Long-Term Success for the Equine Industry
GRANTS PASS, Ore., September 21, 2021--(BUSINESS WIRE)--The highly anticipated gaming, entertainment and dining venue, The Flying Lark, released today an economic impact study analyzing the horse racing industry in partnership with Grants Pass Downs. Independent agency Hunden Strategic Partners (HSP) identified a significant positive impact in job creation, tax and earnings impact to the local economy, and the opportunity to provide funding and stability to the equine industry throughout the region.
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The highly anticipated Flying Lark is a 35,000 square-foot gaming, entertainment and dining venue, opening in the winter of 2021. The Flying Lark will be a Southern Oregon destination that has something for everyone. (Photo: Business Wire)
The Economic Impact Analysis identified the positive impact to Southern Oregon over the next 30 years, including:
$10.7 billion in net new spending
$3.6 billion in net new earnings
2,007 net new full-time jobs
$361.9 million in tax impact to Oregon
HSP conducted market research and interviews with representatives from local, regional and national organizations to understand the horse racing industry and its impact through three primary components: Grants Pass Downs and the Flying Lark, fair meets, and horse-related spending. The study was designed to determine the economic impact of the horse racing industry in Oregon with the Flying Lark in operation and determine the value of the Flying Lark and Grants Pass Downs within the industry in Oregon.
"The local community was surprised to learn of the significant economic impact the horse racing industry had in Oregon back in the 2012 economic impact study," said Randy Evers, President of Grants Pass Downs. "While horse racing struggles to survive in other states, today the vision of leaders at both Grants Pass Downs and The Flying Lark will be a major factor for economic growth and stability, most importantly for Southern Oregon, but also the entire state."
The study discloses the positive impact as industry-changing. The Flying Lark has the unique opportunity to create a legacy, putting Grants Pass and the Josephine County Fairgrounds on the map as a year-round destination. In collaboration with Grants Pass Downs, together they will help restore the horse racing industry, including horse owners, trainers, veterinarians, jockeys, and a wide range of partners, vendors, and suppliers across Oregon. There is a positive cycle of spending and impact between gaming and horse racing.
Historic Horse Racing (HHR) revenues will supplement the industry, including:
Larger purses from pari-mutuel wagering,
Boosted interest in the sport due to greater race quality,
Rising visitation stemming from growing interest,
Improved foal crops as horse ownership becomes more profitable, and
Overall positive trends within the industry.
"The Flying Lark will have a substantial impact on Thoroughbred breeding in Oregon," said Lynnelle Fox Smith, Executive Director for the Oregon Thoroughbred Owners and Breeders Association. "By knowing the purses will be sizable and the facility will be successful, breeders will continue investing in broodmares, stallions, and breeding to support Oregon’s agriculture."
The Flying Lark was founded by Grants Pass Native, Travis Boersma, with a commitment to horse racing and Southern Oregon, opening in the winter of 2021. The 35,000 square-foot destination has something for everyone, including Jacks, a full-service family restaurant, Longshots sports bar, the Winner’s Circle bar located in the center of the state-of-the-art historical horse racing (HHR) terminal floor, based on pari-mutuel wagering, and banquet facilities.
Known for its beautiful natural scenery, parks, outdoor recreation, and wineries in Southern Oregon, The Flying Lark will also open The Wonder Walk. This world-class equine-based art walk will beautifully surround the facility and feature pieces by regional artists that celebrate horses' majestic nature, power and beauty.
About The Flying Lark
Proudly from Grants Pass, Oregon, The Flying Lark is Southern Oregon's premier gaming and entertainment destination, including an inviting family culinary dining experience and the inspiring Wonder Walk outdoor art display, featuring regional artists. The Flying Lark, named after one of the most famous stallions in Oregon’s history, was designed for our customers, community and team members to celebrate the past, present and future, with the magic and beauty of horses. For more information and regular updates, visit: TheFlyingLark.com
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