- Racing a prize winner worth $50 million to the Wide Bay economy
- Industry doubles in value to a record $2.4 billion under Labor
- More jobs and infrastructure investment
The Queensland racing industry's annual contribution to the Wide Bay economy has reached close to $50 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)
Across Wide Bay, which takes in 11 clubs from Burrandowan to Eidsvold, the industry was responsible for generating $49.3 million in value added contribution to the local economy in 2022-23, which represented a 55% increase since 2015.
The industry has almost 2,500 participants involved in Wide Bay, and supports over 390 full-time jobs in the region (+46% since 2015-16).
Infrastructure upgrades to the region's country clubs have also been delivered, including a new set of 12-stall starting gates at Nanango Racing Club worth $150,000, and a $64,000 swab box replacement at South Burnett Race Club.
Important infrastructure projects have also been supported in the region and are helping set local racing clubs up for future success including almost $450,000 worth of projects at the Bundaberg Race Club including a barrier upgrade and storage facility, a new water truck and significant track works.
At the same time, the Bundaberg Greyhound Racing Club has also benefited from a new judges' and broadcast tower, along with a raft of enhancements including a new rail and lure system, new catching pen, new irrigation system, replacement fencing, and the installation of new sectional timing system as part of a $1.4 million upgrade last year.
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 more than 50 race meetings staged in Central Queensland each year, and close to 2,500 participants driving the local industry, racing is absolutely thriving.
"This includes Bundaberg's prominent thoroughbred and greyhound clubs, which host a number of the state's feature racing events across the two codes.
"With close to 400 full-time jobs in the region, those are salaries and wages that directly benefit the Wide Bay economy.
"The Miles Government's commitment to continued investment in the industry means regional clubs can grow and thrive and continue to provide valuable input to the region".
As stated by Member for Bundaberg Tom Smith:
"Regional racing is an important contributor to local economies across Queensland, especially in the Wide Bay Region.
"Not only do racing events bring communities together for a day, but they also generate income for local businesses, cafés, restaurants, motels and hotels.
"In Bundaberg, our community knows the value of a local racing industry which is why I am pleased to be able to deliver more through the Miles Government."
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.
"Wide Bay plays a pivotal role in our footprint through thoroughbred, greyhound and country racing.
"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 Wide Bay'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.
