Racing bonus bid to boost breeding

OWNERS of Tasmanian-bred horses that win races covered by a new incentive scheme will receive a bonus of up to $20,000.

The $1.5 million provided in the Tasbred incentive scheme, which was conceived by thoroughbred breeders and Tasracing, will apply to 72 races across the state.

TasBreeders president Jenny Watson said scores of jobs would be created if more people bred or bought horses and raced them in the state.

“We believe we have a great industry in Tasmania but we are facing stiff competition from across the country and this is a way of encouraging people to buy our product,” she said.

“If you own a locally bred racehorse and you win one of the bonus races you will receive more than $30,000 in prizemoney and bonuses which is a real incentive given it costs much less than that to keep a racehorse for a year in Tasmania,” she said.

“In fact, with bonuses our races are now worth more than most races in Victoria.”

Tasracing chief executive Vaughn Lynch said the new scheme was vital to ensuring the ongoing viability of the breeding industry.

“Providing incentives for the breeding industry in the state is important to ensure the local breeding industry can continue to be the major supplier of racing stock,” he said.

The scheme is funded by local breeders, Tasracing and $300,000 from the State Government for 2018-19.

There will be a further fiveyear commitment if the Liberals are re-elected next month.

“This grant is a good incentive for local trainers and will help boost prizemoney to the owners of winning, locally bred horses, and will be an important addition to existing breeding schemes,” Primary Industries and Racing Minister Jeremy Rockliff said.

Armidale Stud spokesman David Wishaw said the scheme aimed to increase the number of broodmares in the state by 230 over the next six years.

“With the expected increase of 115 foals each year this would generate nearly $8 million extra in economic activity in the breeding sector, with an expected 20 more full-time jobs,” he said.

The number of broodmares and foals has declined by nearly 50 per cent since 2006.

Breeders will contribute to the program by registering to be eligible for the bonuses. The registration costs range from $440 to $1320.