The $3.7 million grant is being rolled as part of the NSW Government's coronavirus stimulus package that will result in 40 new jobs in the region for local tradies.

Making the announcement at the Bathurst Thoroughbred Racing Club headquarters on Wednesday morning, Racing Minister Kevin Anderson said the funding would help attract more racing trainers to Bathurst.

"What we need to do is provide the very best facilities for trainers to get those good horses up and going," he said.

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"If you've got good facilities - the stables, walkers, treadmills and good tracks - then that does attract new trainers, jobs and good horses, as well as raising the profile of the club.

"Bathurst is right amongst that mix and the $3.7 million will push Bathurst up that racing chain."

Mr Anderson explained that the funding would be used to install four new stables of 20 boxes each, resulting in a total of 80 new boxes.

Four new walkers will be built, as well as three treadmills.

"It will make it easier and make it an attractive training complex for those trainers that want to come," he said.

There's also plans for work on the course proper, widening it by three metres.

"There's some negative camber as you come into the straight, so we'll be fixing this as well," Mr Anderson said.

Member for Bathurst, Paul Toole, said the grant will help ensure the racing industry remains sustainable and can attract new participants.

"Racing has a long and proud history in the Bathurst electorate and the racing industry is significant to our local economy and sporting culture," he said.

"The arrival of COVID-19 has impacted the ability of Bathurst Thoroughbred Racing Club to fund much-needed infrastructure improvements, so I am very pleased to be able to work alongside the club during this time to secure funding for these vital works."

Bathurst Thoroughbred Racing Club general manager Michelle Tarpenning was overwhelming grateful for the funding that the club has received.