- Racing a prize bringing in $75 million for Townsville region
- Industry doubles to record $2.4 billion under Labor
- $10 million investment in stables at Townsville Turf Club
The Queensland racing industry's annual contribution to the Townsville economy has surpassed $75 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 the Townsville region, which takes in nine clubs from Charters Towers to Pentland, the industry was responsible for generating $75.2 million in value added contribution to the local economy in 2022-23, which represents a 142% increase since 2015.
The industry has almost 2,700 participants involved in Townsville and the surrounding region and supports 570 local full-time jobs (+124% 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, including the $10 million stabling project currently underway at the Townsville Turf Club and an $85,000 track renovation at Burdekin Race Club.
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," Ms Grace said.
"With close to 140 race meetings staged in Townsville each year, and more than 2,200 participants driving the local industry, racing is absolutely thriving.
"This includes Townsville's prominent thoroughbred and greyhound clubs, along with incredible country racing meets at Burdekin, Ewan and Charters Towers to name a few.
"With around 570 full-time jobs in the region, those are salaries and wages that directly benefit the Townsville 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 Mundingburra Les Walker:
"As the local member I know that racing is an important industry, and that's why we have invested recently in 92 new on course stables, providing a new level of maturity to allow our professional trainers and jockeys to perform at their optimum.
"This investment in racing infrastructure here at Cluden Park will allow Owners and Trainers from all over Australia to participate in professional competition in the Northern Region.
"This industry has a long and proud history in the region, with benefits extending through to our rural communities with employment and events like the Townsville Cup and ever popular Ladies Day".
As stated by Member for Townsville Scott Stewart:
"Racing is an important part of the North Queensland and Townsville community.
"It's important not just for the community but also for our economy supporting hundreds of jobs in the region and thousands across Queensland."
As stated by Member for Thuringowa Aaron Harper:
"Our country races contribute so much not just to Townsville but to smaller towns and are a key event for those communities.
"That's why it's fantastic to see the growing impact the industry is having on a local economy."
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."
"North Queensland's racing industry plays a pivotal role in our footprint, with regular thoroughbred and greyhound meetings beamed across the nation regularly, as well as the region's country racing which showcases our invaluable contribution to local communities."
"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 Townsville's 2022/23 Size and Scope Report.
Click here to see a full copy of the 2022/23 Queensland Racing Industry Size and Scope Report
