Victorian Racing Industry Fund

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Victorian Racing Industry Fund

Over $1M is available from the Victorian Racing Industry Fund (VRIF) to support projects that will improve racing and training infrastructure, as well as patrons’ facilities.

Victorian Racing Industry Fund (VRIF)

 

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Victorian Racing Industry Fund (VRIF)

The Victorian Racing Industry Fund (VRIF) provides grants to the Victorian racing industry for improvements at racing and training venues and for selected programs designed to further stimulate industry growth and development.

 

Background

Racing is a major economic driver for Victoria, generating more than $2 billion annually and employing more than 70,000 Victorians. More than two-thirds of all racing participants reside in regional Victoria and more than 55 per cent of all economic and employment impacts are also generated in regional Victoria. The three racing codes’ breeding industries are significant employers particularly in regions outside of Melbourne.

The Victorian Racing Industry Fund (VRIF) provides funding support to the Victorian racing industry for improvements at racing and training venues and for selected programs designed to further stimulate industry growth and development.

VRIF funding will be provided over four years, commencing on 1 July 2011. The fund is administered by the Minister for Racing and managed through the Office of Racing, Department of Justice.

 

Funding

In addition to meeting current funding commitments, the following key priorities will be funded through the Victorian Racing Industry Fund (VRIF):

  • A total of $30 million for improving racetracks and facilities to deliver high-quality racing and training infrastructure and public facilities that will benefit both the racing industry and local communities;
  • $10 million for the breeding and sales industry to further encourage the breeding of racing animals in Victoria and to promote Victorian-based sales of racing horses and greyhounds;
  • $4 million for drug research to ensure the integrity of all three racing codes through ongoing research to improve the detection of new and emerging drugs and substances that may be used to affect the performance of racing animals;
  • $2 million to support the continuation of jumps racing in Victoria by boosting prize money and attracting international involvement in Victorian jumps racing;
  • $1 million for the greyhound adoption program to support the retraining and rehousing of racing greyhounds and to better promote the image of greyhound racing;
  • $1 million for Living Legends to provide support for the promotion of alternative opportunities for racehorses at the end of their careers, to promote this great tourist attraction and to stimulate a wider interest in Victorian racing; and
  • $200,000 for Victorian picnic races, to support essential grass roots racing which provides a training ground for racing participants and important tourism and fundraising opportunities for local communities across Victoria.

Funding for the Victorian Racing Industry Fund (VRIF) accrues from two sources:

  •  unclaimed wagering (totalisator) dividends; and
  • on-course wagering (totalisator) taxes.

 

Funding Streams

VRIF – Racing Infrastructure

Support for racing infrastructure is essential for the ongoing operation and growth of the racing industry and its substantial economic benefits to Victoria.

The Racing Infrastructure fund assists all three Victorian racing codes and their race clubs to improve racing and training infrastructure, as well as patrons’ facilities.

A minimum of $30 million will be provided over four years for these purposes.

Eligible projects include racing and training infrastructure works that are aligned with industry strategic plans and support longer-term objectives of racing clubs and the industry.

Priority will be given to projects that have matching financial contributions (50/50 split) from the applicant. This can include in-kind contributions from the club and/or from other funding sources (e.g. local council, other venue users, club sponsors).

Recurrent expenditure, such as day-to-day operational costs, will not be considered. Funding will not be considered for expenditure that is considered part of an organisation’s regular and ongoing budgetary expense.

 For significant capital works projects, applications must be accompanied by a detailed project plan, including written quotes and where necessary, tender procedure.

 

VRIF – Picnic Racing Clubs

Picnic Racing is an important element of Victoria’s racing industry providing opportunities to many racing participants including those at an amateur level. It also caters for crowds in the many thousands and helps support regional economies.

The Picnic Racing Clubs fund is open to all Victorian thoroughbred picnic racing clubs. $200,000 will be provided over four years and is subject to an annual funding round that is open from 1 July to 31 August.

Picnic clubs may apply for funding for capital works (including improvements to facilities for patrons) or for marketing and promotional purposes.

As the Picnic Racing Clubs funding stream is capped at $50,000 per annum, picnic clubs undertaking larger infrastructure works are encouraged to discuss their application with the Office of Racing and apply for funding through the VRIF – Racing Infrastructure stream.

 

VRIF – Raceday Attraction Program

The Raceday Attraction Program (RAP) supports initiatives aimed at increasing on-course attendance and promotion of the three racing codes. By increasing attendance and interest in racing, the industry is better placed to continue growing into the future.

Priority will be given to submissions that include matching financial contributions (including in-kind contributions) and which demonstrate the innovative nature of the proposal, outline the expected customer experience and outline the level of support from the local community.

Recurrent expenditure, such as day-to-day operational costs and standard race day activities, will not be considered.

 

Other VRIF Funding Streams

In addition to the above three VRIF funding programs, there are five other funding streams available to specific racing industry participants.

The following initiatives do not have specific application forms, but applicants must include a detailed project plan and a copy of the current business plan of the organisation, as part of their submission.

Submissions should also clearly set out the timing of funding requirements for the project. Annual project reports will be required as part of the funding agreement.

 

VRIF – Breeding and Sales

Victoria is a great state in which to breed, own or race a horse or greyhound. The breeding industries of all three codes provide enormous economic benefits and jobs to the State, particularly in rural and regional areas.

The Government will provide $10 million over four years to boost the already successful VOBIS, GOBIS and VicBred schemes. These schemes provide significant prize money incentives for the owners and breeders of horses and greyhounds bred and/or sold in Victoria. These schemes also provide incentive to racehorses and greyhounds in Victoria.

 

VRIF – Greyhound Adoption Program

Animal welfare is a key aspect of any successful racing industry. The Government will provide $1 million over four years to assist the Greyhound Adoption Program (GAP) to retrain and rehouse more dogs.

GAP plays a critical role in promoting the greyhound as a companion animal, providing a positive option for dogs at the conclusion of their racing careers and generally enhancing the image of greyhound racing.

 

VRIF – Jumps Racing

Jumps racing is an important element of Victoria’s racing industry providing additional opportunities to horses, jockeys, trainer and owners. The Government will provide $2 million funding over four years for programs aimed at improving safety measures and boosting prize money for jumps racing.

There is also a focus on growing Warrnambool Grand Annual May Racing Carnival, with the aim to increase both local and international support for the Carnival and the economic benefits arising from that growth.

 

VRIF – Living Legends

The Government will provide $1 million over four years to support the further development of Living Legends and more effective promotion of its facilities as a significant tourism destination.

Stronger promotion of Living Legends and its champion retired racehorses has the capacity to stimulate a wider interest in Victorian racing and to promote the welfare of racehorses at the conclusion of their racing careers.

 

VRIF – Racing Analytical Services Limited

Victoria is renowned for its commitment to drug free racing. The Government will provide $4 million to Racing Analytical Services Limited (RASL) to support additional research and to enable the organisation to grow its capacity to detect new and emerging drugs and substances that may be used to affect the performance of racing animals. This commitment will further enhance public confidence in the integrity of Victoria’s drug testing program.

 

More Information

 

Expert Assistance

Writing a good quality grant application is a critical element in the application process. An application needs to be well thought through, written concisely, have clear objectives and purpose, and show clear links to the objectives of the grant guidelines.

The grant application must answer all questions, provide all required information and respond to the merit criteria. It should also reflect your organisation’s business strategy.

Writing a good application takes time and effort, and requires particular writing skills.

Bulletpoint are expert grant consultants and can assist with all aspects of grant preparation. We are an independent grants consultancy and not affiliated, associated nor endorsed by any government agency.

We know what it takes to secure this grant.

Contact us to see how we can assist you.

 

 

Media Release

Racegoers at the Bendigo Jockey Club will get uninterrupted views of all the on-course action, thanks to a new $320,000 big screen funded with support from the Andrews Labor Government.

Minister for Racing Martin Pakula visited Bendigo Racecourse today to announce the Labor Government will provide more than $160,000 from the Victorian Racing Industry Fund to help purchase and install the big screen.

The 59 square-metre big screen is expected to be operational in time for the Bendigo Cup on 1 November, and will enhance the race day experience by providing prime views of the on-track action.

The club is also contributing more than $160,000 towards the project, which will help boost revenue by creating new opportunities for on-course advertising and sponsorship.

Since 2014, the Government has provided almost $1.2 million for 15 projects to improve racing and training infrastructure, public facilities and raceday attraction events at Bendigo Racecourse.

The racing industry in the Loddon region generates more than $166 million annually for the Victorian economy and helps to sustain more than 1640 full-time equivalent jobs locally.

By | 2017-08-30T18:37:00+00:00 August 21st, 2017|Community, Infrastructure, Tourism, Vic|Comments Off on Victorian Racing Industry Fund

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