ANOTHER $10 million has been pledged to help bring a second world-class motorsport circuit to Mount Panorama.
The highly-anticipated Velocity Park project will not only bring a second track to the iconic Mount, it will also bring associated industrial and commercial development.
The $52.4 million project will be funded through a mix of federal, state and local government funding.
So far, $25 million has already been pledged – $15 million from the State Government and $10 million from Bathurst Regional Council.
And, on Wednesday, Federal Member for Calare Andrew Gee and Regional Development Minister and Nationals Deputy Leader Fiona Nash visited Bathurst to announce the Federal Government’s contribution.
Mr Gee announced that $10 million had now been allocated to Velocity Park thanks to the Coalition’s Building Better Regions Fund.
“This is the single biggest grant of its type that has been delivered by the Federal Government to our area, so it’s a day to celebrate,” he said.
“This project is something special because it has the vibrant capacity to be a game-changer for the economy of Bathurst.”
Velocity Park’s construction will include a world-class race track that cars and motorcycles will be able to race on, as well as a pit complex, fuel storage, access roads, parking and amenities.
It will be a dedicated circuit, unlike the existing track, which means it will be able to be used year-round for motorsport events, test days and driver training.
A business precinct will also be created within Velocity Park, and Mr Gee said he expects it to have a bright future.
“I see a future of motor racing industries springing up here,” he said.
Velocity Park will not only be welcomed by the country’s motorsport fans, Mr Gee said, but it will be a much-needed boost for the Bathurst economy.
“This project will create 220 jobs during construction and another 247 ongoing jobs. All this in addition to the inevitable tourism a development like this brings to the region,” he said.
Bathurst Regional Council mayor Graeme Hanger said he was “serious about this [project] happening”.
“What it does show is the the Federal Government and the State Government really believe in Bathurst Regional Council,” he said.
Council has already called on organisations with the capability to design the new 4.5 kilometre racing circuit, with three companies (two international and one Australian) currently being considered.