The Standardbred Breed Development program was established to promote the Indiana Standardbred industry. In 2007, legislation was passed which approved slot machines at Indiana's pari-mutuel racetracks. Hoosier Park and Indiana Downs both opened their slot operations in June of 2008. The Indiana Standardbred Breed Development Fund receives 50% of the revenue generated from slot machines that is allocated for Standardbred Horse Racing.
The purpose of the Standardbred Breed Development Program is to provide incentives to the owners and breeders of Indiana Sired (IS), Indiana Bred (IB), and Indiana Sired & Bred (ISB) horses. These incentives are provided through racing programs at Indiana's two pari-mutuel racetracks, county fairs and state fair. Additional incentives are provided directly to owners and breeders through owner bonuses and breeders awards. The intent of this program is to stimulate the agri-business sector of the State's economy while encouraging the breeding of quality standardbred horses. The Standardbred Breed Development Program has been modified for the 2009 breeding season and beyond to provide the owner/breeder with a program with three (3) levels of participation.
The Standardbred Breed Development Advisory Committee is appointed by the Governor to advise the Indiana Horse Racing Commission in the distribution of these monies. This Advisory Committee works closely with Hoosier Park, the Indiana Standardbred Association, Indiana Standardbred Advisory Board, and other horsemen organizations to develop the Standardbred Breed Development Program. This program has become an invaluable tool in developing and maintaining the fast growing high quality Standardbred industry in the State of Indiana.