Capital Works Fund Available For SA Clubs
- Monday, 01 February 2010 21:04
South Australian racing clubs are being given the opportunity to access a million dollars in funding for capital projects.
Thoroughbred Racing SA – the controlling body for horseracing in South Australia – has sent letters to clubs throughout the State inviting applications for Capital Development Grants Funding.
Racing clubs are being invited to apply for funding towards:
- Projects which improve the Occupational, Health and Safety standards of their facilities
- Upgrades to on-course facilities in line with consumer expectations and industry standards
- Projects to upgrade training and racing facilities
The $1m being provided by Thoroughbred Racing SA in its 2010/2011 budget represents a 100% increase in available funds in the current financial year and a fivefold increase on the $200,000 made available in 2008/2009.
The $1m Capital Development Grant funding comes on the eve of a 24% increase in prize money levels from February 1st - the fourth prize money increase announced by the Board in the past two years.
“We have worked hard to position the State’s racing industry to the point where we are on a very solid financial footing,” said Chief Executive Jim Watters.
“The funding we are making available underlines our commitment to growing the industry across the State by assisting clubs to undertake projects that not only address Occupational Health and Safety issues or have the potential to significantly improve their facilities, but will also allow them to redirect their own precious resources into other areas.”
