The Thoroughbred Breeders Queensland Association welcomes today's $15.5 million dollar investment into racing.
TBQA President, Mr Basil Nolan praised Racing Queensland and the State Government for the much needed boost which includes increased prize money and payments to jockeys and drivers, along with infrastructure grants and higher club payments. This is in addition to $4.1 million of prize money increases delivered in August.
"It is great to see racing stakeholders being rewarded for their hard work and investment into the industry and their important contribution to the State's economy," said Mr Nolan.
"With continued financial support from the State Government our industry will continue to grow and prosper and this positive cycle of investment and reward will see racing grow from strength to strength.
"The fact that we were, at one stage, the only sport to continue during the COVID-19 shutdown shows how valuable racing is to the economy.
"I would like to thank the team at Racing Queensland and Minister Grace Grace for their support and I look forward to watching our industry grow and prosper over the next few years as this great partnership continues."
An RQ statement today outlined the Industry Investment Plan which includes $5.25 million in grant funding to support the infrastructure requirements of the industry, with funding prioritised towards projects that have been identified as critical for club sustainability.
The key initiatives as part of the $15.5 million include $5 million towards replacing critical racing assets in FY21 and $2.3 million towards increased club funding payments annually, while the code investment breakdown includes the following changes for Thoroughbreds:
$3.5 million to support key infrastructure projects in FY21 including on-course stabling to assist sustainability of clubs and horse numbers;
$3 million per annum increase in prize money for grass roots racing including:
Metropolitan Saturday restricted races rise from $50k to $55k;
SEQ provincial prize money rises from $21k to $22k;
The introduction of five SEQ showcase meetings per month at $25k per race;
Toowoomba increase from $19k to $20k per race;
Northern P1 races increase from $18k to $18.5k;
$590,000 per annum to increase riding fees for jockeys from $212 per ride to $225. This will rise to $230 in FY23 as part of a new multi-year agreement; and
$1.4 million per annum to increase the QTIS (Queensland Breeding Incentive Scheme) with the introduction of incentives for four-year-olds and to enhance QTIS Jewel day (three-year-old Jewel to $500k and addition of a fillies and mares Jewel).
The increases will commence on January 1, 2021.
The Industry Investment Plan is in addition to recent prize money and infrastructure allocations.
Highlights include:
In June, the Race Meeting Injury Scheme was introduced for greyhounds, providing an additional $220,000 to support serious racing injuries;
In August, metropolitan mid-week maiden prizemoney rose from $27,500 to $35,000 ($800k), while Northern P1 races are now run at $18k per race and include additional programmed races at Thursday, Friday and Sunday P1 meetings delivering an additional $1.6 million per annum for thoroughbreds;
In August, additional greyhound race meetings were announced for Capalaba and Townsville. The prize money and appearance fees will see an additional $1.7 million in returns to participants;
In September, the Government approved the business case for the $38 million Gold Coast Turf Club tracks and lights project;
In May, the replacement of the Sunshine Coast synthetic track was confirmed while in October, it was announced the Racing Infrastructure Fund would enable new tie-up stalls to be constructed in Townsville; and
In October 2019, funding was announced for the $39 million Greater Brisbane Greyhound Centre which will include three world-class tracks located south of Ipswich with a strong focus on animal care.