IER to undertake update on size and scope of Tasmanian racing industry

Friday 10 June 2022

Last year’s report on the Size and Scope of the Tasmanian Racing Industry, produced by IER and commissioned by Tasracing, clearly shows the positive impact racing has on Tasmania from an economic, employment and cultural standpoint.

Key findings that you would be familiar with and that Tasracing uses often to speak about the importance of the industry to the state include:

  • The industry generates close to $185 million in value-added contribution to the Tasmanian economy, 38% directly benefiting regional communities.
  • The industry supports 1,515 full-time equivalent jobs.
  • More than 5,800 individuals are involved in racing as either an employee, participant or volunteer, 63% of these in regional communities.
  • The industry generated almost $165 million in direct expenditure in Tasmania.
  • Racing is a strong industry with close regional ties throughout the state.

In Tasracing’s strategic plan we have committed to commissioning these reviews every three years to clearly articulate the growth and ongoing positive impact of the racing industry on the state.

The last IER report, released in October 2021, was based on results from the 2018/19 financial year. We were unable to utilise 2019/20 results as the industry was closed for 10 weeks and would not have provided an accurate picture of racing’s true impact.

Tasracing has recently commissioned IER to undertake an update of its Size and Scope of the Tasmanian Racing Industry report, using data from 2021/22. Additional detailed analysis will be undertaken on participants and animal preparation to gain greater insights into numbers and costs to assist decision making.

As part of the work, IER will be contacting race clubs and a wide range of industry participants with specific requests for information over the coming months.

I would ask that any requests for information be responded to as quickly as practical to assist with the preparation of the report.

I cannot emphasis enough how positive and effective the last report has been in, not only supporting the industry and refuting claims about its significance, but in clearly explaining to government the key outcomes and importance of the racing Industry in Tasmania.

I expect that the 2021/22 Size and Scope of the Tasmanian Racing Industry report will be released later this year.

Thank you in advance for your assistance.