A PLAN to bring a world-class motorsport circuit to Mount Panorama is one step closer thanks to a $10 million funding announcement by the NSW Government.
Deputy Premier John Barilaro was in Bathurst on Wednesday to pledge the funds that are in addition to $5 million already allocated by the NSW Office of Sport.
The massive infrastructure project, called Velocity Park, will not only bring a second motorsport circuit to Mount Panorama, it will also bring associated industrial and commercial development.
In his announcement on Wednesday, Mr Barilaro said the funding commitment would “set this region up for the future”.
“This is about tourism, it’s about jobs, it’s about the economy,” he said.
“More importantly it’s about showcasing what is fantastic about regional NSW and places like Bathurst.
“Along with council and with the federal government, we’re going to make sure this project sees the light of day.”
The $52.4 million Velocity Park project will be funded through a mix of federal, state and local government funding.
So far, $15 million has been received from the NSW Government, council has committed $10 million and it has also applied for a $10 million federal grant.
Bathurst Regional Council will continue to lobby state and federal governments for the remaining $17.4 million.
The circuit will be built on 668 hectares of land to the west of McPhillamy and Reid parks, and below the ridge where the existing clay target club is located.
State Member for Bathurst Paul Toole said it was a “game-changer” and he praised the many community groups who have long pushed for a second motorsport track for the Mount.
“We’ve kept it on the radar, we’ve kept talking about the need for this project and what it’s going to deliver,” he said.
“This is going to drive regional activity here in this region. It’s going to provide an economic boost, it’s going to promote jobs and it’s going to see new industry moving to Bathurst.”
Mayor Graeme Hanger said the additional funding will help “bring to fruition” all the work of Bathurst’s community groups, councillors and Mr Toole.
Unlike the existing circuit, the new track can be used year-round for car and motorcycle races and events.