Horse Racing Ireland has detailed its plans to grow the racing and breeding industries in the country over a five-year period.
The organization's strategic plan for 2020-2024 seeks to grow the economic contribution of the industry to €2.5-billion, total sustainable employment to 35,000, racecourse attendance to 1.5-million, fixtures to 416 and minimum race value to €12,500. The plan also includes a second all-weather track at Tipperary, a redeveloped equine campus at the Irish Equine Centre and education and training programmes for the workforce.
“The most recent analysis shows that for every euro of government support the racing and breeding industry receives, it returns over €30 to the economy, mostly in rural Ireland,” said Horse Racing Ireland Chairman Nicky Hartery. “This strategic plan seeks to build on that dynamic and further grow what is a sustainable and indigenous industry. Horse racing and breeding play a vital role in the rural economy and the delivery of this plan will increase the positive impact the industry has all over the country.
“The areas we have identified that will deliver our vision are: increased participation at all levels; a focused plan to broaden the interest and appeal of racing; ensuring that we have the best employment policies for our industry; and building on our strong record to ensure the best-in-class integrity and equine welfare standards. All of this will need investment and that is contingent upon delivery of a sustainable funding model for our industry.
“Following a series of changes in betting tax arrangements, off-course betting duty collected by the government in the year amounted to €94-million in 2019. This figure comfortably exceeds Exchequer funding provided to horse racing and a projected growth in these receipts in the coming years will allow for a progressive increase in funding to €98-million by 2024 at a reduced cost to the Exchequer.”
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