The $50 million Velocity Park project includes a second race track and associated industrial and commercial development at Mount Panorama.

A Bathurst delegation including mayor Gary Rush and Member for Bathurst Paul Tool recently met with NSW Minister for Regional Development John Barilaro in State Parliament to discuss the project.

The duo continued the push for $20m in state funding towards Velocitiy Park.

In all, council is seeking $20m from the NSW Government and $20m from the Federal Government, while Bathurst ratepayers’ commitment to the venture is $10m.

“He [Minister Barilaro] did inform us of the likelihood of State Government grants next year. He encouraged us to put in our application,” Cr Rush said.

And while Cr Rush said there were no guarantees of funding being approved, he said it was an encouraging meeting.

Velocity Park will be about more than just motorsport, Cr Rush said.

“The objective of Velocity Park is to boost economic development in Bathurst,” he said. “Economic appraisals suggest the project would add significantly and make a significant contribution to the economy.”

Member for Bathurst Paul Toole said the NSW Government has already shown some financial support for Velocity Park.

“The State Government has already put $5m on the table to start the project and we’ll keep chipping away,” he said.

Mr Toole said council’s business case study for Velocity Park was well received by the Minister.

“Council has been asked to go away and talk to other people about pursuing funding,” he said. “This should be seen as an opportunity for further regional development in regional NSW.”

It was the third time Cr Rush has met with the Minister Barilaro, and it follows other high level talks between Bathurst representatives and Prime Minister Malcolm Turnbull, Liberal heavyweight Senator Arthur Sinodinos and Labor’s Ed Husic.