Awards are on the way to Kentucky’s Thoroughbred breeders participating in the commonwealth’s Thoroughbred Breeders’ Incentive Fund (KTBIF) program. The Kentucky Horse Racing Commission announces the release of $16.2 million through the KTBIF.
“Our horse farm families are the backbone of our racing industry, and I’m proud to support the Incentive Fund that keeps mares and foals in Kentucky,” said Gov. Andy Beshear.
According to the Kentucky Thoroughbred Association, the Kentucky Equine industry generates $6.5 billion and supports more than 60,000 jobs.
In fact, 2023 was a good year for business. Highlights include:
– Kentucky-bred horses won 63% of all graded stakes races in the U.S.
– Kentucky-bred horses won 298 graded stakes races with 68 of them held at one of Kentucky’s five Thoroughbred racetracks.
– Kentucky-bred horses have won the last nine Kentucky Derbies and last seven Kentucky Oaks.
– Kentucky-bred horses took home the hardware in all three legs of the Triple Crown: Mage won the Kentucky Derby; National Treasure won the Preakness and Arcangelo won the Belmont Stakes.
-Pretty Mischievous won the Kentucky Oaks.
-Kentucky-bred Cody’s Wish won the 2023 Horse of the Year Eclipse Award Winner.
Mage and Pretty Mischievous both will receive a $50,000 KTBIF bonus.
The KTBIF was implemented in 2005 to ensure the strength of Kentucky’s equine industry by awarding funds to individuals who choose to breed a thoroughbred mare in Kentucky. To qualify, the mare must be bred to a Kentucky registered stallion, remain in the state during her full gestation and foal in Kentucky. Final award amounts are then based on the foal’s eventual earnings at the racetrack.
The KTBIF is funded through a percentage of the sales tax paid when a stallion is bred to a mare in Kentucky. Since the fund’s inception, more than $234 million has been distributed to Kentucky breeders for winning eligible races worldwide.
A list of the 2023 award winners, along with the amount awarded and other interesting statistics, can be found on the KHRC website.
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