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Taupo Motorsport Park gets govt support

June 9 2006

Taupo Motorsport Park gets govt support

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The government will provide $2 million for new facilities at the Taupo Motorsport Park, to enable New Zealand to host big international motor racing events, Economic Development Minister Trevor Mallard and Taupo MP Mark Burton announced today.

"This investment will give New Zealand a complex that is capable of hosting international racing events which can not currently be staged elsewhere." Trevor Mallard said.

The $13 million track and business park at the Taupo Motorsport Park has received significant funding from the Taupo District Council and a group of private investors.

The government funding of $2 million over three years comes through New Zealand Trade and Enterprise's Major Regional Initiative (MRI) fund, a component of its Regional Partnership Programme.

The funding will be used primarily to build a pit lane complex, media and corporate facilities and is conditional on the centre securing an international event.

Some funding will also go towards additional track safety features to comply with Federation Internationale De L'Automobile (FIA) Class 2 standards, allowing the centre to host large international motor sports events.

"The Taupo Motorsport Park facilities will be world-class when completed and as good as the best facilities in Australia," Trevor Mallard said.

Mark Burton said it was great news for the Taupo economy and for local jobs.

"Taupo will be a wonderful showcase and this project will also give good spin-offs to the national economy. International media coverage of races could provide huge returns to New Zealand's tourism sector and also highlight its technological and manufacturing prowess," Mark Burton said.

The Taupo Motorsport Park also features a business park nearby to service the activities of the racetrack and its users, and to encourage the development of a cluster of high-technology companies that are able to leverage business from motor sport activity at the track.

ENDS


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