RICHWOOD, Ohio, Aug. 25, 2016 /PRNewswire/ -- The Ohio Quarter Horse Association, home of the All American Quarter Horse Congress (AAQHC) continues to thrive as they prepare to celebrate 50 years of growth in central Ohio. AAQHC is the largest single-breed horse show in the world, which welcomes more than 650,000 equine enthusiasts from every state as well as several countries, across several continents. Recent trends continually show growth for the AAQHC.
To put this staggering number into perspective, that's more attendance than the Indianapolis 500, Super Bowl and NASCAR Daytona race– combined. That's six times the fans as a packed OSU Horseshoe during the same October schedule.
The AAQHC hosts activities for all ages, including the largest intercollegiate and Junior Horse Judging contest with more than 60 teams participating. The AAQHC awards nearly $3 million in cash and prizes with more than 21,000 horse show entries.
Dr. Scott Myers, Executive Director of the Ohio Quarter Horse Association discusses the importance of keeping the world class event in central Ohio. "The AAQHC is reliant on central Ohio businesses to be a positive force to continue the success of the event in future years."
With the evolution of technology and urbanization in our country, one may not realize that the equine industry is a booming business. The direct impact of the horse industry results in more than $39 billion of direct economic impact, pushing beyond an estimated $102 billion when the multiplier effect is considered by industry suppliers and employees nationwide. Via travel, dining, shopping, general expenditures and more, The AAQHC commands more than $250 million (more than $10 million per day) generated towards the Columbus area economy during 25 day event each October.
In comparison, the Ohio State Fair, which is consistently ranked in the top 10 state fairs by USA Today and Travel Channel respectively, has more than 30% higher attendance than AAQHC yet only a third of the state economic lift. (Ohio State Fair = $68.5 million versus All American Quarter Horse Congress = $250 million)
Exploring what makes the AAQHC such a globally recognized phenomenon in the equine industry becomes all the more perplexing when you realize two more amazing statistics.
- Only eight full-time employees manage, organize and facilitate the entire event and organization from a rural community within Union county. Every October hundreds of temporary staff follow the well-orchestrated plan of complete customer service and entertainment experience by this small team located within Richwood, Ohio. (pop. 2,213 as of 2013).
- All sales, processing and cash flow for this massive global event is managed by a local community bank with six locations in central Ohio, Richwood Bank.
Dr. Scott Myers discusses the small town partnership success of global impact. "Our history and strategic vision are similar. Genuine commitment and dedication to our customers and the industries we serve and love."
So why choose a local community bank to service the Ohio Quarter Horse Association (OQHA) and events all year round when your economic impact is even larger than the LeBron effect? Dr. Myers responds with solid reasoning.
"We are neighbors with very similar, parallel foundations. We humbly serve our communities and state proudly. We both are perceived as 'smaller entities' all the while making a large impact at local, state, national levels and beyond. We both have the technology growth to stand as leaders in any geographic location yet choose to stay rooted firmly within our history."
Chad Hoffman, the CEO and President of Richwood Bank concurs while expanding on Dr. Myers' comments. "We appreciate the long partnership we've continuously earned with the Ohio Quarter Horse Association. Our values are very complimentary as we both strive to make our services memorable for each other. We've joined together as partners to create the best solutions possible for our shared consumers so they may have exceeded service, not only in October but all year, every year."
Dr. Myers explains that many people assume you need a large, corporate bank to have the tools or resources to maintain a $250 million dollar impact. It is just not so when you dedicate resources to the evolving task of banking.
"When you have more than 650,000 customers, innovative banking services are is essential for success – especially in the heart of a top 35 marketing area of more than a million households. We choose Richwood Bank because they support our goals and we always receive the best customer service possible. Our patrons assume we have a global banking partner, but in reality we have something better. Richwood Bank wants us to succeed like we do and act as an extended arm to our team."
Hoffman affirms while explaining the allied motivation. "Maybe it's the same goals for our community and state. We both want to make Ohio proud of the advancements we've made while remaining personable to our clients. We want everyone to understand that you can have the best technology and personalized relationships without choosing one over the other. It is truly possible to have both. That's when the synergy occurs. That's why we've been here with OQHA every step of the way."
OQHA's accomplishments over the past 50 years have been innovatively blending the horse industry and Ohio community ties to create a top notch event. By continuing the partnership with Richwood Bank, OQHA and the AAQHC plans to grow even more in the next 50 years.
SOURCE Richwood Bank