New Jersey Governor Phil Murphy has signed legislation that will extend the $20 million annual purse enhancement for horse racing in the state, with the appropriation now running through to 2029, the Governor's office announced Friday.
Monmouth Park will receive $10 million annually for purses, with the remaining $10 million going toward purses at the Meadowlands Racetrack and Freehold Raceway, as well as money earmarked for bonuses for state-sired horses and breeders' awards.
“Given the critical importance of the horse racing industry to not only the state's economy, but to farmland and open space preservation, I am signing this legislation to signal my desire for the state to continue to make this investment each year at the level directed in the bill,” said Gov. Murphy. “New Jersey's horse racing industry is a key economic engine, supporting thousands of jobs and attracting tourists and fans from around the world. The funding promised by this legislation will allow New Jersey to continue to offer one of the most exciting horse racing experiences in the nation, while also providing a boost to an industry that is integral to our economy.”
The original legislation designating the purse enhancement for racing was signed by Gov. Murphy in February of 2019. That includes $20 million for purses already appropriated for the state's fiscal year 2025.
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