Louisville, Ky. (WHAS11) - The countdown to the Kentucky Derby is officially underway now with less than three weeks to go!

From the housing market to rising gas prices, the economy is not showing signs of settling down anytime soon.

But with the economy in a major setback right now does that have an effect on Kentucky Derby turn out and profits?

For typical retailers the Christmas shopping season is the all important time of year.  But if you’re the city that hosts the Kentucky Derby , and the two and a half weeks of non stop events by the Kentucky Derby Festival leading up to it, this is the biggest time of the year.

It’s an event that leaders say is as close to recession proof as you can get.