- Racing industry a prize winner worth $190 million to Toowoomba region
- Industry value doubles statewide to a record $2.4 billion under Labor
- More jobs and investment in infrastructure at country clubs
The Queensland racing industry's annual contribution to the Toowoomba and Darling Downs' economy surpassed $190 million in the 2022-23 financial year.
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 the Toowoomba and Darling Downs-Maranoa regions, which takes in 26 clubs and serves as the epicentre for the state's thoroughbred breeding activities, the industry was responsible for generating $190.6 million in value added contribution to the local economy in 2022-23, which represents an 85% increase since 2015.
The industry has more than 6,150 participants involved in the Toowoomba and Darling Downs-Maranoa regions and supports over 1,400 full-time jobs in the region (+68% since 2015-16).
Infrastructure upgrades to the region's country clubs have also been delivered including a $30,000 fencing project at Goondiwindi Race Club, and a refurbishment of the starting gates at Stanthorpe Jockey Club worth $20,000.
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 120 race meetings staged in Toowoomba and Darling Downs-Maranoa each year, and more than 6,000 participants driving the local industry, racing is absolutely thriving.
"This includes Clifford Park in Toowoomba which hosts headline features like the Weetwood Handicap and King of the Mountain, along with incredible country racing meets at places like Chinchilla, Roma and Warwick.
"With more than 1,400 full-time jobs in the region, those are salaries and wages that directly benefit the Toowoomba and Darling Downs 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 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.
"Importantly, the continued rise in value added contribution remains consistent in rural Queensland, with more than half directly benefiting regional economies."
"The Darling Downs is renowned with breeding in the Sunshine State, which is showcased via the King of the Mountain.
"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 Toowoomba 2022/23 Size and Scope Report.
Click here to see a full copy of the Darling Downs' 2022/23 Size and Scope Report.
Click here to see a full copy of the 2022/23 Queensland Racing Industry Size and Scope Report.
