BATHURST Regional Council has secured another $2.5 million to put towards the second circuit at Mount Panorama.
Federal member of Calare Andrew Gee met with mayor Graeme Hanger at the Mount on Monday morning to announce that council would receive the money under the third round of the Building Better Regions Fund.
The money will be used for both construction and stage one of the pit complex.
The Federal Government has already provided $10 million to council for the project, meaning Monday's announcement has taken the total contribution to $12.5 million.
Cr Hanger said the money has brought the second track a step closer to reality.
"The second circuit, and associated infrastructure, will significantly boost the local economy and attract commercial and industrial infrastructure that will provide more jobs and tourism opportunities, as well as drive business development," he said.
The design of the circuit is currently underway, with Apex Circuit Design awarded the tender in July, 2018.