It has been assumed the Bathurst 12-Hour endurance race at Mount Panorama is a winner.

Now the evidence is in.

It proves the race is here to stay as one of the drawcards on the famous circuit.

Bathurst Regional Council contracted the Western Research Institute, which is based in Bathurst, to find out what the 12-Hour is worth not only to the city, but also to the Central West and the state.

A report to tomorrow night’s ordinary monthly meeting of council by city treasurer Bob Roach has the results of that institute research, based on the 2014 12-Hour.

“The 2014 event resulted in 7000 spectators and 1400 competitors participating,” the report says. 

“A report indicates the 12-Hour event generates an output for Bathurst of $5.9 million, the Central West (including Bathurst) of $6.37 million and NSW (including Bathurst and the Central West) of $15.96 million.

“Another positive result from the study shows that the 12-Hour creates 29 full-time jobs for the Bathurst economy and 61 fulltime jobs for NSW.”

The Bathurst hospitality sector, naturally, was one of the largest beneficiaries of the 12-Hour.

“Media coverage of the 2014 Liqui-Moly Bathurst 12 Hour extends across Australia via free-to-air and cable television. Live internet streaming has also allowed the event to be broadcast globally,” the institute has found.

“This exposure is further extended through word-of-mouth advertising by participants and spectators at the combined events and through social media interactions. 

“The additional tourism to the region generated by the event has not been measured. However, the event’s influence on this is potentially considerable.

“Whilst the event’s contributions to the local economy are substantial, the study highlights the potential for greater impacts to be generated in the local region, particularly the Bathurst and Central West economies.

“Contributions to the local economy are constrained by two related factors: products sourced for the event that are imported to the region; and the ability of local industry to meet the needs of the event.

“Encouraging investment in, and therefore developing local industry, particularly in the manufacturing sector, will allow for greater sourcing of local product for the event. 

“This will also strengthen the linkages between local sectors, thus improving the flow-on effects into the local economy.

“In turn, this will enable the local economy to capture more event-related expenditures and ensure that a greater proportion of the monies generated remain in the region.”