The Victorian Government is investing $10 million in a $135 million project to build a major new grandstand at Melbourne’s Flemington Racecourse that will create 350 construction jobs.
The project will generate major economic benefits for Victoria and is expected to include 50 apprenticeship opportunities among the construction jobs.
The new grandstand will provide racegoers with state-of-the-art facilities to ensure Flemington maintains its status as Victoria’s premier racecourse and one of the world’s top sporting venues.
The five-level grandstand will offer 360-degree views and will draw inspiration from Flemington’s garden setting by incorporating shapes of flowers and petals throughout the building.
Victorian Minister for Racing, Martin Pakula, announced the funding as part of the 2016 Melbourne Cup Carnival launch.
Mr Pakula said, “The new Flemington Grandstand will create hundreds of new jobs during the construction phase and, once completed, it will ensure Victoria remains one of the top racing destinations in the world.
“Today also marks the launch of the Melbourne Cup Carnival which continues to attract thousands of interstate and international visitors to Victoria each year.”
The Victorian Racing Club and its funding partners are contributing $125 million to the grandstand. It will replace the existing Members’ Old Grandstand which will be demolished to make way for the new structure.
Victoria Racing Club Chairman, Michael Burn, said, “We are grateful to the Victorian Government for its generous support, which will enable us to provide racegoers with unparalleled facilities to enjoy racing at our iconic course.
“The new grandstand will help us to celebrate the history and character of this wonderful racecourse for generations to come.”
In 2015, the Melbourne Cup Carnival generated almost $388 million in economic benefits for Victoria, with more than 326,000 people attending the four race meetings, including more than 122,000 visitors from overseas and interstate.
Construction on the new grandstand will start later in 2016 and is expected to be finished in time for the 2018 Melbourne Cup Carnival.