Image: Keith Muir.

A commissioned economic impact study at Wakefield Park Raceway has revealed the circuit contributes $15-million to the local economy annually as owners look to secure government funding for around $4-million in upgrades.

Benalla Auto Club (BAC) has plans to upgrade the 2.2-kilometre circuit, including a complete resurface, pit improvements, corporate facilities and a skid pan across the next 18 months. A track extension has also been discussed.

“The study authors surveyed people at two to three major events and obtained information on where they stayed, where they ate and fueled up, etc, and how much they spent,” Wakefield Park operations manager Matt Baragwanath told the Goulburn Post.

“It’s pointless having discussions with local and state governments about funding if you don’t have a measurable. There’s also a lot of scuttlebutt on what Wakefield Park does and doesn’t bring to the town, so without firm figures, it’s all pie in the sky. Plenty of people in Goulburn think we do nothing for the economy.”

The study carried out by Urban Enterprise found that Wakefield Park attracts 15,000 entrants and 17,000 spectators per year. The circuit has become a popular venue on the Australian Superbike Championship (ASBK) calendar in recent seasons, hosting round two of the 2017 season in March.