$110M FOR RACING INFRASTRUCTURE
21 July 2011,
MORE than $110 million has been committed by the State Government for various racing infrastructure projects across Queensland.
It includes $35.4 million to the Gold Coast Turf Club for a complete revamp of the course, flood mitigation and the installation of a synthetic training and racing track with tunnel access to the inside of the tracks.
President Barry Grimsey claims the club is owed $50 million based on treasury modelling used to compensate the dogs.
“If you use the same formula, then we are owed $50 million plus,” he says.
“If the State Government can give money to Racing Queensland for upgrades across the state, where is our money to re-locate? If we were compensated, we could build a purpose-built track with facilities at somewhere like Pimpama. As it is we’ve got not money and no facilities and we can’t stay on the Gold Coast.”
Racing Queensland Limited (RQL) has welcomed the Bligh Government’s funding commitment available to fund infrastructure upgrades at Queensland race clubs particularly in regional and country areas.
“We cannot hand over millions of dollars of government funding to individual clubs and walk away,” he says.
Minister for Agriculture, Food and Regional Economies Tim Mulherin says the funding will be provided immediately in the form of a $100 million loan from the Queensland Treasury Corporation. He says the revised Industry Infrastructure Plan will enable works to commence on projects regardless of the outcome of the Albion Park legal proceedings.
"It became clear that without action the broader racing industry would suffer as a result of these ongoing legal proceedings," he says.
"As a result, the Government has approved a revised Industry Infrastructure Plan submitted by Racing Queensland Limited that identifies major works on which the $110 million will be spent. The Queensland Government is backing the racing industry to ensure its growth into the future.
Mulherin said the $100 million loan would be repaid from redirection of 50 per cent of wagering tax over five years.
Deagon $39.9 million
This major upgrade to the Gold Coast facility will deal with major OHS concerns, significantly improving rider and horse safety.
Beaudesert $7.27 million
Cairns $1.96 million
Townsville $6.34 million
Mackay $7.44 million
Public facilities and members areas will be upgraded to allow for the continuation of the facility as a TAB venue.
Rockhampton $1.6 million
Country Racing $2.35 million