The equine industry in Kentucky is a major part of the state's agribusiness, including sectors involved in horse breeding and rearing, racing, buying and selling, and tourism. According to a study by the University of Kentucky, the equine industry contributed $3 billion to the state economy in 2012 and generated 40,665 jobs. Some job estimates range as high as 96,000 when considering secondary impacts such as tourism. Kentucky is the United States' leading producer of horses overall, and the number one producer of Thoroughbreds, with 30% of the national foaling total. In 2009, stud fees and horse sales totaled $4.26 billion, making horses the state's second most profitable agricultural product. Purebred horses exported from Kentucky were worth between approximately 150 and 175 million doll