Keeneland Association, established in 1936 in Lexington, Kentucky, is a premier Thoroughbred racing and auction entity. It operates as a nonprofit organization, reinvesting its earnings into the Thoroughbred industry and the local community. Keeneland's operations encompass seasonal race meets, annual horse auctions, and various supporting business lines, all contributing significantly to the regional economy.
Economic Impact
A 2024 study by the University of Louisville's Departments of Equine Administration and Economics highlighted Keeneland's substantial economic contributions:
- Total Annual Impact: Over $1.6 billion to Fayette and surrounding counties.
- Thoroughbred Auctions: $1.16 billion generated through annual sales in September, November, January, and April.
- Spring & Fall Race Meets: Nearly $300 million annually.
- Supporting Business Lines: $97.7 million from special events, tours, retail operations, and the Keeneland Library.
- New Construction: $166.6 million from ongoing projects, including the new Paddock Building set to open in Fall 2025.
Additionally, Keeneland contributes nearly $40 million in local, state, and federal income taxes.
Visitor Demographics and Spending
Keeneland attracts a diverse audience:
- Racing Patrons: 64% come from outside Kentucky, spending approximately $190 million annually at local establishments.
- Auction Participants: 67% are from outside the state, with 24% from outside the U.S., contributing $336 million to the local economy.
Recent Developments
In 2023, Keeneland announced a $93 million expansion project, including a new Paddock Building to enhance visitor experience. This is the largest capital project since its inception and is expected to be completed by the 2025 Fall Meet.
Sustainability Initiatives
Keeneland has partnered with Rubicon to implement smart waste and recycling solutions, aiming to become a near zero-waste facility. This initiative reflects Keeneland's commitment to environmental stewardship.
