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New report highlights greyhound racing’s economic contribution to Victoria’s economy

Greyhound racing contributes hundreds of millions of dollars annually to Victoria’s economy through direct expenditure, salaries, flow-on effects and profits as well as creating thousands of jobs, mainly in regional communities, a new report has revealed.

Greyhound Racing Victoria (GRV) commissioned the Size and Scope of the Victorian Greyhound Racing Industry 2015 -16 report to gain a better understanding of the industry’s size and contribution to Victorian communities.

The report found that greyhound racing generated more than $298.3 million in direct expenditure for the state in 2015-16, but the actual economic impact totals $408.6 million when the flow-on effects of jobs, salaries, spending and profits are considered.

It is responsible for supporting 2,888 jobs, including 1,216 full-time equivalent (FTE) positions that are directly employed within the racing industry, and another 1,672 FTE jobs in support industries, including vets, hardware stores employees and tradespeople.

The independent report was prepared by consultants IER, which has extensive experience reporting on racing industries in Australia and New Zealand. The first report of its kind focusing on greyhound racing in Victoria, it details the industry’s impact across the state as well as specific outcomes for regional areas.

GRV CEO Alan Clayton and Chairman Bernie Carolan released the report today.

Mr Carolan said the study aimed to quantify the economic, employment and social contribution that the Victorian greyhound racing industry generates throughout the state.

“The industry has gone through an unprecedented period of reform over the past two years and we have come a long way in that time,” Mr Carolan said.

“The industry will continue to grow and change, which is why we need a comprehensive picture of where it is now, so we can plan, meet the needs of the community and build a sustainable and vibrant future for greyhound racing in Victoria in the future.

“What comes through strongly in this report is the extent of the industry’s economic, social and community impacts on Victorian communities through job creation and flow-on effects, especially in regional Victoria,” Mr Carolan said.

Mr Clayton said the report highlights the contributions of industry participants including trainers, breeders, owners, contractors and volunteers, in addition to the economic benefits.

“They are the lifeblood of the industry, the great majority are passionate about what they do, it’s part business, part hobby for them and they are demonstrating that they care about the welfare of their dogs,” Mr Clayton said.

“GRV clubs play an important social and community role, providing jobs and supporting community organisations through donations and sponsorships, particularly in regional cities and country towns.”

There are 13 clubs located in Ballarat, Bendigo, Cranbourne, Geelong, Healesville, Horsham, Broadmeadows, Sale, Springvale, Shepparton, Traralgon, Warragul and Warrnambool.

Key findings include:

  • $298.3 million was generated in direct spending through greyhound training, breeding, racing and wagering in Victoria 2015/16.
  • This expenditure created direct value-added impact (in terms of wages, salaries and profits) of $137.7 million, increasing the total economic impact to more than $408.6 million.
  • Of this, 42 percent of these flow-on effects directly benefitted regional economies.
  • Overall, more than 15,000 Victorians are directly involved in the industry, including employees, trainers, breeders, owners, and volunteers (which includes full-time, part-time, casual and contractor positions).
  • 79 per cent of these participants live in regional areas.
  • The economic activity generated by racing is responsible for directly sustaining 1,216 FTE jobs in Victoria and a further 1,672 FTE jobs in support industries.
  • Further, the report puts the total impact on employment at 2,888 jobs when flow-on effects are considered.

SIZE AND SCOPE OF THE
Victorian Greyhound Racing Industry


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