By Phil Gravelle
TORONTO – A multi-million dollar deal to support the horse racing industry will be a benefit to the Grand River Raceway in Elora and breeding operations throughout Wellington County.
The Ontario government announced March 21 that it will provide $10 million per year to support programs for breeders and others in the industry through the Horse Improvement Program (HIP).
“Our horse racing sector plays a vital role in our rural communities and is an important part of Ontario’s heritage,” said Vic Fedeli, Minister of Finance.
“This investment will ensure the province’s horse racing community is open for business, and can create and protect jobs.”
The program will provide race prize money specific to horses bred in Ontario.
“It’s an incentive to breed horses in Ontario,” said Jamie Martin, director of operations at Grand River Raceway in Elora.
“Wellington County has lots of both standardbred and thoroughbred farms, so that would be where you would see the benefit.”
Breeders are often raising horses for sale, so a horse becomes more valuable if the owner can race it for more money. In addition to prize money for owners, there is also a reward program for breeders. If a horse they breed does well in the races, they also get a prize.
Tracks will also benefit, because prize money will be higher for some races.
In a separate development, a new long-term funding agreement takes effect April 1, in which the Ontario Lottery and Gaming Corporation (OLG) will provide the racing industry with up to $105 million per year, for up to 19 years.
It will include some support for the operation of smaller tracks, but it is primarily to boost general prize money. In Elora, it will all go to the purses, said Martin.
“The amended long-term funding agreement gives our industry the foundation we need to work together to make decisions about what’s best for the future of our industry,” said Martin.
He said this is the most recent step in restoring funding to the horse racing industry, which was hit hard in 2013 when the Liberal government cancelled the Slots at Racetracks Program. It had used slot machine revenue to support the industry, primarily by increasing prize purses.
The Grand River Raceway pays out almost $4 million per year in prizes to owners. The new deal will see that rise an estimated five per cent, he said, which would be close to $200,000.
“OLG is providing nearly two decades of funding to ensure racetracks, breeders and horsepeople have the confidence they need to guide the future of the industry,” said OLG president and CEO Stephen Rigby.
“This support will help promote long-term, responsible management of the horse racing industry in the province.”
Ontario has 15 racetracks, more than any other North American jurisdiction.
