- Racing an almost $70 million prize for Central Queensland's economy
- More jobs as new infrastructure delivered
- Queensland racing doubles in value to $2.4 billion under Labor.
The Queensland racing industry's annual contribution to the Central Queensland economy reached close to $70 million in 2022-23.
Racing Queensland has released its latest independent economic data delivered by IER – a specialist in the tourism, events and entertainment industries – which demonstrates racing contributed a record $2.4 billion towards the state's economy in 2022-23, representing a 100% increase since Labor came to office in 2015.
Almost 250 extra full-time jobs were generated in racing in 2022-23, with the industry now responsible for 15,839 full-time equivalent jobs across Queensland – an increase of 66% since 2015.
While the latest figures show the overall economic contribution of Queensland racing under Labor has doubled, it also shows that remarkable growth continues to be shared across all three codes of racing:
- Thoroughbreds – rose from $959 million to $1.8 billion (+90% since 2015-16)
- Greyhounds – rose from $113 million to $344 million (+204% since 2015-16)
- Harness – rose from $142 million to $232 million (+64% since 2015-16)
In Central Queensland, which takes in 13 clubs from Calliope to Thangool, the industry was responsible for generating $68.8 million in value added contribution to the local economy in 2022-23, which represented a 92% increase since 2015.
The industry has more than 3,000 participants involved in Central Queensland and supports over 510 full-time jobs in the region (+72% since 2015-16).
Important infrastructure projects, large and small, have also been supported in the region and are helping set local racing clubs up for future success. This includes a $2.3 million upgrade at the Rockhampton Jockey Club, which included the delivery of a new administration building and expanded female jockey rooms.
Infrastructure upgrades to the region's country clubs have also been delivered, including a $200,000 judges' facility at Dingo Race Club and a sand rake/rock picker at Gladstone Turf Club worth $67,000.
As stated by Racing Minister Grace Grace:
"The economic value that racing in Queensland delivers has now doubled under the current Labor Government since 2015.
"With close to 150 race meetings staged in Central Queensland each year, and more than 3,000 participants driving the local industry, racing is absolutely thriving.
"This includes Rockhampton's prominent thoroughbred and greyhound clubs, which host a number of the state's iconic racing events, including The Archer which will be run for $1 million for the first time next year.
"With more than 500 full-time jobs in the region, those are salaries and wages that directly benefit the Central Queensland economy.
"Racing has a bright future under the Miles Government, with a pipeline of major infrastructure projects nearing completion, supported by 80 percent of betting tax revenue being reinvested back into the industry."
As stated by Member for Rockhampton Barry O'Rourke:
"The Racing Industry in Central Queensland has benefitted from the enormous growth in racing prize money to our economy.
"Labor has supported that growth with an increase of around 250 new full-time jobs generated throughout the state.
"With more jobs and new infrastructure rolling out across the racing industry we will see benefits well into the future."
As stated by Member for Keppel Brittany Lauga:
"Racing is such a thrilling sport and I just love the energy and socialising with my fellow Queenslanders.
"I am delighted about this injection in the economy and the upgrading of our local racing infrastructure.
"This investment will certainly contribute to securing the sustainability of the racing industry in our beautiful State".
As stated by RQ Chair Steve Wilson AM:
"The IER data once again highlights how wide-ranging and impactful the racing industry's size and scale is across Queensland," Mr Wilson said.
"Importantly, the continued rise in value added contribution remains consistent in rural Queensland, with more than half directly benefiting regional economies."
"The Sunshine Coast plays a pivotal role in the state's racing footprint, with the recent stabling project and track redevelopment in recent years making Corbould Park an invaluable racing and training precinct for thousands of local participants.
"Our unrelenting focus on returning payments to participants including prize money - along with strategic infrastructure - has provided confidence in the industry, and in return, strong economic growth and employment figures."
Click here to see key economic changes from FY16 to FY23.
Click here to see a full copy of the Central Queensland 2022/23 Size and Scope Report.
Click here to see a full copy of the 2022/23 Queensland Racing Industry Size and Scope Report.
