$40m For Tasracing Capital Works / Tasmania / 04 Feb, 2010

Tasmanian racing has welcomed an announcement by the Tasmanian Government that will provide the industry with a $40 million funding assistance package for capital expenditure works.

Tas Racing chairman Brian Speers said a feasibility study would now be undertaken regarding the development of racing for all three codes in Devonport.

"The study will include the future development of the Spreyton racecourse and take account of the views and requirements of all three codes," he said.

Speers said a feasibility study was an important part of the overall development process as it would allow the Tas Racing Board to make informed decisions about racing in Devonport.

Speers said Tasracing was in the process of developing a five-year capital expenditure plan for major infrastructure investment to address short and medium-term needs of the Tasmanian industry.

Tas Racing chief executive Gary Lottering said that one of the company's key priorities is the further development of the State's racing product to compete in the national and international market place.

"This $40 million funding announcement for racing and training infrastructure is obviously an important part of achieving success in this area" he said.

The Tasmanian Government's Media Release announcing the $40 million funding package can be accessed by clicking here