Queensland Government expands its commitment to racing industry

The Queensland Government will expand its commitment to racing with new funding to deliver infrastructure. 

Major racing infrastructure projects are underway, including the $38 million Gold Coast Turf Club redevelopment, the $8.9 million Sunshine Coast synthetic track and the new $39 million Greater Brisbane Greyhound Centre near Ipswich, along with many other projects throughout regional Queensland, contributing to Queensland’s economic recovery from the COVID-19 pandemic.

Queensland Premier Annastacia Palaszczuk announced that in this week’s State Budget, the government would deliver 35% of revenue from the state’s Point of Consumption Tax back into racing – an important part of Queensland’s COVID-19 economic recovery plan.

The Premier said this major decision would deliver $41.3 million for the Queensland racing industry over the next two years.

Queensland Treasurer and Minister for Investment Cameron Dick noted that the investment provides an incentive to race clubs across the state to produce events that draw bigger crowds -helping regional tourism and accommodation operators across the state.

Queensland Racing Minister Grace Grace highlighted that from 1st July with the QLD Government giving 35% of revenue back to the racing industry - equating to $41.3 million over the next two years – “every time someone places a bet in Queensland, a guaranteed portion of that money will go back into improving tracks, upgrading facilities for racegoers, boosting prize money, supporting animal care and creating more jobs in and around racing.”

Minister Grace added “Country racing at non-TAB race clubs is a big part of the social and economic fabric of regional Queensland – more so than in any other state.

“That is why we have locked in continued support for the Queensland country racing industry, with our $35.2 million commitment that will provide a purse not only for prize money, but also maintenance of tracks and facilities.

“Every year, 62 Queensland towns host a race day as the highlight of that community’s social calendar, with enormous economic benefit to these towns.

“Our investment in country racing is creating local jobs and improving facilities for jockeys, drivers, trainers, connections and racegoers from Cooktown to the Gold Coast and west to Birdsville.”

Queensland’s racing industry provides more than $1.6 billion to the state’s economy every year.

Image above: Sunshine Coast Racing Track