CAMPBELLVILLE, March 21, 2019 – The Ontario government renewed its support of the province’s horse racing and breeding industry, as well as rural communities with Thursday’s announcement of an annual $10 million contribution in funding for horsepeople.
The amended Long-Term Funding Agreement (LTFA), which will now allot up to $115 million annually to Ontario horse racing’s stakeholders over the next 19 years, will begin April 1, 2019.
Georgian Downs, an Ontario Racing member track in Innisfil, Ontario, hosted the press conference.
“The amended Long-Term Funding Agreement demonstrates how committed this government is to the citizens of rural communities across Ontario and respects the economic development horse racing generates in the province,” said John Hayes, Independent Chair, Ontario Racing. “The added support will provide racetrack operators, breeders, owners, trainers, caretakers, grooms and others who dedicate their lives to the sport a level of confidence in the long-term sustainability of the industry.”
The LTFA is a comprehensive package of support, including purse management, operational expenses and capital improvements, that delivers nearly two decades of stable funding to help build a sustainable horse racing industry for all three breeds (Quarter Horse, Standardbred and Thoroughbred) throughout the province.
The original agreement, announced last spring, offered up to $105 million in support annually. The additional $10 million has been earmarked to support programs for breeders and horsepeople.
The LTFA also solidifies agreements with racetracks that have chosen to receive funding to support operations under the Optional Slots at Racetracks Program.
To learn more about the industry programs, benefits, criteria, components and eligibility, visit ontarioracing.com.
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Photo by Ericka Rusnak.
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