Statement from Governor Martin O'Malley Following Emergency Legislation to Keep Preakness in Maryland
ANNAPOLIS, MD (April 13, 2009) – Governor Martin O’Malley issued the following statement today following the passage of emergency legislation designed to give the State greater authority over the Preakness Stakes to keep it in Maryland.
“Today, we have acted swiftly and efficiently to preserve the options available to the State to keep the rich tradition of the Preakness here in Maryland, where it belongs.
“The authority granted in this legislation protects the economic interests we share in the Preakness, which generates thousands of jobs and millions for the local economy. The centuries-old heritage of horse racing and horse breeding is woven deeply into the cultural fabric of Maryland, and we will take advantage of every available tool to ensure it remains.”
Maryland’s horseracing industry began in 1873 with the first running of the Preakness Stakes, the second leg of the Triple Crown. The equine industry is a critical component of Maryland’s economy, generating more than 20,000 jobs and an annual economic impact of $1.5 billion. These figures also do not include the economic impact of the horse industry on tourism and the economic enhancement to real estate values, estimated at $100 million annually.
