ECONOMIC & SOCIAL IMPACT OF RACING IN NEW SOUTH WALES

Australian horse racing commenced in Sydney at Hyde Park in 1810 with a three-day carnival inaugurated by the then Governor Lachlan Macquarie.

In 2008 racing's importance to the New South Wales economy was illustrated in a study commissioned by the Australian Racing Board where the economic value of racing in NSW was estimated to total nearly $1.7 billion. The outbreak of Equine Influenza in August 2007 reinforced the value of an industry that supports more than 16,000 full time equivalent employees.

New South Wales is Australia's thoroughbred breeding capital and home to some of the biggest race meetings in the world. Racing’s cultural, social and economic importance to the State is clear. The 2007 study into the economic value of thoroughbred racing in Australia recognised that New South Wales employs more people and generates more taxation revenue than any other state.

New South Wales is a key driver of Australian Racing with more race clubs and racetracks than any other state. Last financial year, $138.5 million was distributed to these clubs who conducted 7,447 races over 1,269 race meetings, with 55,000 starters.

In addition, NSW is the breeding capital of Australia, with the Hunter Valley region being host to a large number of international investors and stallions with global pedigrees. It is therefore no surprise that almost half (31) of the 66 Group One events run in Australia were won by NSW trained horses.

The industry is supported by more than 1,270 trainers, 311 jockeys and apprentices, 316 bookmakers who employ another 632 clerks and approximately 956 staff employed by trainers.

Racing in New South Wales is comprised of the Metropolitan and Provincial regions, as well as the Hunter and North West, Northern Rivers, Mid North Coast, South East, Central West, Western and Southern Districts.

Racing in NSW:

• The total Economic Value of Racing in NSW is estimated at $1,693 million or $904 million in the Metropolitan area and $789million in Non-Metropolitan areas
• Generates $1.65 billion in value adding to the New South Wales economy
• Generates $230+ million in taxes paid to State Governments annually
• Generates $200+ million in taxes paid to Federal Governments annually
• Generates more FTE jobs and taxation revenue to both federal and state governments than any other Australian state (16,040+ Full time equivalent jobs, or 8,548 in Metropolitan areas and 7,494 full time equivalent jobs in Non-Metropolitan areas)
• Boasts the highest number of employees, participants and volunteers (69,800)
• Over 1.36 million people attended a race meeting in New South Wales in 2007
• The Autumn Racing Carnival has a worldwide audience of over 16 countries
• In 2007 16 countries imported racehorses from New South Wales
• In 2007 $438+ million was invested by breeders, owners and trainers in New South Wales racing
• In 2007 over 21,000 racehorse owners invested in racing in New South Wales
• In 2007 it is estimated that approximately 27,000 people that attended the Inglis Sales. More than 18,000 of these visitors were from interstate and overseas.
• These visitors contributed 56% of the aggregate sales revenue of more than $193 million