The Sunshine Coast racing industry has been hailed as a vital financial driver for the community, after research revealed exactly how much it is worth.
Racing Queensland has released independent economic data delivered by IER – a specialist in the tourism, events and entertainment industries – that showed the industry was responsible for generating $145.4 million in value-added contribution to the local economy in 2022-23. That’s a 162 per cent increase since 2015.
The local racing sector has more than 3400 participants and supports 1072 local full-time jobs, which is up 132 per cent since 2015-16.
Significant infrastructure upgrades have been delivered, including a $7.4 million stabling project that saw 128 boxes constructed across four barns.
Racing Minister Grace Grace said horse racing was big business on the Sunshine Coast.
“With 70 race meetings staged at Corbould Park each year, and almost 3400 participants driving the local industry, racing is absolutely thriving,” she said.
“This includes a number of feature meetings on the Queensland racing calendar hosted at Corbould Park, including the Caloundra and Mooloolaba cups as a part of our marquee winter and summer carnivals. With more than a thousand full-time jobs in the region, those are salaries and wages that directly benefit the Sunshine Coast economy.”
Member for Caloundra Jason Hunt said the Corbould Park racetrack was a popular destination.
“We know that locals and tourists alike love getting out for race days at the Sunshine Coast Turf Club,” he said.
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“The Sunshine Coast’s racing industry is not just a source of entertainment, it’s a vital economic driver for our community with a contribution of over $145 million in the past year and the creation of more than 1070 full-time jobs.
“The recent investments in infrastructure, including the new stabling facilities … underline our commitment to fostering growth and supporting local participants.”
Racing Queensland chair Steve Wilson said the region was a hotspot for horseracing.
“The Sunshine Coast plays a pivotal role in the state’s racing footprint, with the recent stabling project and track redevelopment in recent years making Corbould Park an invaluable racing and training precinct for thousands of local participants,” he said.
“Our unrelenting focus on returning payments to participants, including prizemoney, along with strategic infrastructure, has provided confidence in the industry and, in return, strong economic growth and employment figures.”
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