HORSERACING is having a massive impact on Yorkshire’s finances, according to a new, detailed study – and York is responsible for the lion’s share.

The sport contributes nearly £230 million annually to the county’s economy, according to a report by the respected Centre for Regional Economic and Social Research (CRESR) at Sheffield Hallam University.

The findings suggest that York Racecourse, whose own impact has been assessed at about £58 million, is a major powerhouse in the sector.

Commissioned by the nine racecourses last year, including York, Ripon Thirsk and Beverley, CRESR looked in depth at the activities of the racecourses, trainers, breeders, owners, jockeys and on-course bookmakers.

They also took into account off-course spending by racegoers and those attending racecourses for events such as conferences and exhibitions.

Professor Paul Lawless, one of the authors of the study, said that apart from the annual impact on Yorkshire’s economy of about £228 million, the core racing industry provided some 2,300 full-time equivalent jobs in the county.

“And, using Yorkshire Forward’s regional economic model, it could be estimated that racing supports another 830 full-time equivalent jobs in the county,” he said.

Of the £228 million, about £30 million was attributed to off-course spending by racegoers, including hotel stays, food and drink.

This was largely linked to meetings at York, which generated £10.6 million annually, and Doncaster, which generated about £6 million.

Welcoming the report at the Great Yorkshire Show, where the Yorkshire racecourses are a partner on the Welcome to Yorkshire stand, the tourist agency’s chief executive, Gary Verity, said: “Horseracing is part of the lifeblood of Yorkshire.

“This report illustrates not only how important the racing industry is to our county but the future potential of racing in Yorkshire. We are the home of horseracing in the UK, and that is why we are working closely with Go Racing in Yorkshire and all the racecourses to ensure that when people think about going racing for a day or a weekend, they think about coming to Yorkshire.”

Nine courses are linked to Go Racing in Yorkshire – Catterick and Doncaster both race on the flat and over jumps; Beverley, Pontefract, Redcar, Ripon, Thirsk and York stage flat racing only, while Wetherby hosts jumps racing only.

Collectively they stage some 175 race days per year, which is about 12 per cent of the national fixture list. Attendances in 2009 were approaching one fifth of the national figure, emphasising the popularity of racing in the county.

James Brennan, head of marketing at York Racecourse, said: “This report confirms our own studies focused on York – and what we know intuitively – that racing is important to Yorkshire and Yorkshire is important to racing.”

The £58 million generated by York Racecourse could be measured in hotel bookings, busy taxi ranks, and successful milliners and designer dress shops all over the city, he said.

Much was done by the racecourse to prevent traffic jams but “those who fretted in queues at least had the consolation that this was part of the city’s thriving economy”.

Here’s a few racing certainties

• In 2009, more than 100 licensed trainers looked after 3,288 horses in training in Yorkshire – some 22 per cent of the UK-wide figure.

• More than 5,000 individuals in Yorkshire are involved in ownership of a racehorse in training in the county. Taking into account the average cost of a horse in training (£15,000 per annum), plus jockeys’ riding fees, but minus their proportion of prize money accrued, owners’ net expenditure in Yorkshire is about £50 million. Thoroughbred breeding in Yorkshire, meanwhile, accounts for about £11 million per annum.

• Collectively, Yorkshire’s nine race courses stage some 175 race days per year, which is about 12 per cent of the national fixture list. Attendances in 2009 were approaching one fifth of the national figure.