The paper aims to clarify the role of equine sectors (breeding, race training, equestrian centers) in regional development. The economic impact model used is a hybrid between the economic or export base and Keynesian theory. It has been applied in two French districts (Ain and Allier) known for the diversity and attractiveness of their horse industry. While Allier has a percentage of basic jobs in equine sectors (0.76%), especially in horse raising across all sectors then in racehorses training, the relative role of the equine sector is much lower in Ain (0.18%) and closely related to equestrian centers and saddle horses breeders. The first wave of spending plays a predominant and very contrasting role between the two departments : it is significantly higher in the Ain (0.32) than in Allier (0.23). The weakness of the indirect and induced effects in Allier is explained both by the limited local supply of the race sector and the nature of basic jobs in the Allier (horse trainers participating in races on all France). In addition, the share of external demand in total demand for each segment of the sector is all the higher as the district concerned is "specialized" in this segment. For example, nearly 40 %of direct employments in equestrian centers is driven by external demand in Ain, while 90 % satisfy a local demand in Allier. The equine sectors thus seem to be at the origin of a "consumption base" effect from anchored territorial resources (races in Allier region) or from a growing external demand (Switzerland and the urban area of Lyon for the equestrian centers in Ain) by diverting some of the external consumption to their profit.