The huge infrastructure project has already received local and state government financial support, with Bathurst Regional Council hopeful of upcoming federal support.

When built, Velocity Park will include an international standard car and motorcycle circuit on a 668 hectare parcel of land that sits to the west of the existing circuit.

Mr Toole said the park would also provide opportunity for a range of industries to move to and grow in Bathurst with an estimated 220 new jobs created.

“Council have had discussions with various stakeholders that have said ‘if you build this track we are interested in packing up our business and moving it to Bathurst’,” he said.

Mr Toole said Velocity Park will be a “game-changer” for Bathurst and it would “really open up this area and the Central West”.

“This is more than a race track, we shouldn’t consider this as a race track, this is about a business park investing and being able to move into Bathurst,” he said.

“There will be new businesses that will come here, there will be new businesses that we haven’t even thought about that will move into Bathurst.”

Mr Toole said the State Government’s investment in Velocity Park would create jobs and drive the economy in regional NSW.

So far, the NSW Government have committed $15 million to Velocity Park, council has committed $10 million and it has also applied for a $10 million federal grant. Council will continue to lobby state and federal governments for the remaining $17.4 million.