Velocity Park off and racing under Building Better Regions Fund
02 August 2017
Joint release with:
Federal Member for Calare
- Funding for Bathurst's Velocity Park to be delivered under the Building Better Regions Fund
- Coalition Government investing $10 million
- The new international motorsport circuit will deliver short and long-term jobs
The Coalition's Building Better Regions Fund will deliver a second world-class motorsport circuit at Mount Panorama in Bathurst, Calare MP Andrew Gee announced today.
Joining Regional Development Minister and Nationals Deputy Leader Fiona Nash in Bathurst for the announcement, Mr Gee said Velocity Park will include a world-class racetrack, a pit complex, fuel storage, access roads, parking and amenities.
“In a major boost for the regional economy, this project will create 220 jobs during construction and another 247 ongoing jobs. All this in addition to the inevitable tourism a development like this brings to the region,” Mr Gee said.
“This project is something special because it has the vibrant capacity to be a game-changer for the economy of Bathurst.
“I think you'll see a motor racing industry develop in and around the city which will be very exciting. Its place as the spiritual and physical home of motorsport in Australia will be assured.
“I said in my inaugural speech to the Australian Parliament that this was a project I'd be fighting for and I'm delighted we've been able to deliver this funding which will mean Velocity Park is off the starter's grid and racing!
“This is the single biggest grant of its type that has been delivered by the Federal Government to our area, so it's a day to celebrate.
“It was made possible by the enthusiasm and support of Bathurst Regional Council and the people of Bathurst,” Mr Gee added.
Minister Nash said a new international standard motor racing circuit will cater for approximately 50,000 guests and allow the region to host more world-class motorsport events, bringing tourists and jobs to the region.
“All Australians recognise Bathurst is synonymous with motor racing, and this new circuit cements Mount Panorama as Australia's premier racing facility,” Minister Nash said.
“I congratulate the Bathurst community on their successful application. We received more than 500 applications for the Building Better Regions Fund and Bathurst has beaten literally hundreds of others to win funding.
“I aim to help build the kinds of regional communities our children and grandchildren either want to stay in or come back to, and providing world-class sporting infrastructure does just that.”
The project is being jointly funded with the Coalition Government investing $10 million through the BBRF and the New South Wales Government and the Bathurst Regional Council also contributing.
More information about the Building Better Regions Fund is available at: www.business.gov.au/bbrf.