The $50 million project includes a second race track along with associated industrial and commercial development.

Mr Gee, who was elected as the federal member for Calare on July 2, said like his predecessor John Cobb he will support the project’s development.

Funding for the project is being sought from all levels of government – including $20m from the federal government and $20m from the NSW Government, with Bathurst ratepayers to commit $10m to the venture.

“I’m backing Bathurst’s second race track to the hilt and I’m going in boots and all to fight for funding for it,” Mr Gee said.

“Now that the Bathurst Rail Museum has been secured with a hefty grant [$965,250], we can move on to the task of bagging some funding for even bigger projects like this one.”

The MP also used his inaugural speech to the Australian Parliament to speak about the project.

Mr Gee said the federal Minister for Regional Development Fiona Nash was recently in Bathurst and they discussed Velocity Park and ways in which funding could be applied for and structured.

“I’ve also had discussions with the mayor of Bathurst, Gary Rush, about that issue as well and we’re currently working on a strategy for the best way to go after the funding,” Mr Gee said.

“Rest assured that the push for the second race track is well and truly on.”

This follows a number of high level talks this year between Bathurst delegates and state and federal politicians, including when Mr Cobb met with Prime Minister Malcolm Turnbull.

Along with Cr Rush, Mr Cobb met with the prime minister in April this year to explain the benefits of Velocity Park and to seek financial support for the project.

Mr Cobb said during the meeting that Velocity Park represented the next step forward for Mount Panorama and would build on Bathurst’s already world-class motorsport reputation.

“People come from across the globe to witness the magic of Mount Panorama, with the Bathurst 1000, the 12 Hour and the 6 Hour,” he told the prime minister.

It is hoped that Velocity park would attract news businesses and industries to relocate to the site.