4 November 2016
$53 million set aside for industry infrastructure spending
The Queensland Government has set aside $53 million for racing infrastructure spending across the three codes of racing.
This amount is likely to increase to approximately $124 million between now and 2023 when taking account of other “flow-ins”, including Racing Queensland’s allocation of the licence fee paid by UBET.
Racing Queensland CEO Dr Eliot Forbes said one critical task of the new board was the development of an infrastructure plan appropriate for a 20 plus year future.
“Consulting with industry stakeholders forms an important part of the board’s considerations,” he said.
The following broad categories for projects to be considered have been established:
- Commercial projects to enhance self-sufficiency.
- Major racing infrastructure projects >$1m which provide enduring benefits for the industry and/or the ability to enhance wagering or on-track attendances.
- Minor racing infrastructure (up to $1m) associated with work health safety or animal welfare.
Funding will take the form of loans or grants, depending on the proposal.
Dr Forbes said Racing Queensland was focused on working with all racing clubs to move towards sustainable business models where each club could be responsible for its own capital expenditure and asset replenishment.
“We obviously acknowledge that this may take time, and will require the engagement of participants and local communities,” he said.
“Taking this into account, we will be looking favourably on projects which generate new, non-racing income streams.
“We will also be developing organisational capacity to assist clubs to identify and progress commercial development opportunities.”
Dr Forbes said initial priority projects will be discussed with Government in March 2017.
Since July 2010, approximately $67 million has been provided by Racing Queensland for significant capital projects at:
- Gold Coast;
- Eagle Farm; and
Criteria for submissions is available here
Submissions are to be directed to email@example.com