The NSW Government has announced a $4.2 million injection for the industry, $2.9 million of which will go towards a state-of-the-art training centre at Bathurst.

It is approaching the seven-year mark since the club relocated from the Bathurst Showground and the training facility has been a point of discussion since day one, club chairman Wayne Barker said.

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"When we moved up to this precinct, there was talk about the training centre," he said.

"It's a bit of a dream for me. When we came in we thought and then we were told about the training centre and it just seemed to go on and on.

"Today, with the announcement of the State Government budget, it's going ahead and it's going to be exciting times."

The precinct will include 60 stables, a training track, access to the established race track, day yards and more.

A veterinary clinic is already being discussed.

Not only will the training complex create more jobs in the region, it will provide aspiring trainers with access to top quality facilities without having to purchase land and set up their own training centre.

"For a lot of the young trainers, it gives them an opportunity, somewhere to go, to train their horse on this precinct here, and it will put Bathurst in good standing for the next 100-odd years," Mr Barker said.

"This gives them an opportunity to stay in the sport. We might have lost a lot of those people over the years where they just didn't get the opportunity to train or didn't have the money to do it, but still loved it."

Mr Barker thanked everyone involved in making the dream a reality, especially the Bathurst Harness Racing Club CEO Danny Dwyer.

"He's our godsend for our club. He does do a lot of work behind the scenes and to get this going with Harness Racing NSW and our council and our local member, Honourable Paul Toole ... thanks to everyone," he said.

The remainder of the funding from the NSW Government has been put towards the newly established Harness NSW Re-Homing Company to provide a second life for retired standardbreds after their racing careers are over.