Important breeding programs in the harness and thoroughbred racing codes have received support in the 2024-25 Tasmanian Budget.
Minister for Racing, Jane Howlett, said she wanted to see the industry thrive and a healthy racing industry requires a strong and vibrant breeding sector.
"The Tasmanian breeding sector supports small businesses, job creation and economic activity, particularly in rural and regional Tasmania," Minister Howlett said.
"Our Government is working closely with TasRacing and TasBreeders to improve our incentive schemes by providing additional funding support in the 2024-25 Budget, including:
"By providing prize money allocation incentives for Tasmanian-bred horses, we are offering owners and breeders more opportunity to reinvest back into the Tasmanian racing industry," Minister Howlett said.
"This is an important way to encourage the further growth of the Tasmanian industry, by supporting Tasmanian small businesses.
"This Budget and our 2030 Strong Plan for Tasmania's Future demonstrates our strong support for this vibrant and valuable industry which generates more than $208 million in economic activity annually and involves more than 6400 people across the State."
