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DriveIt NQ has received a significant boost courtesy of a $10 million pledge from the Queensland Government.
Premier Annastacia Palaszczuk today visited the site of the new circuit, located some 40 km from Townsville, along with a number of other dignitaries.
Taking to its Facebook page to make the announcement, DriveIt NQ confirmed it will receive a $10 million injection.
“We are proud to announce that the Queensland Government has pledged $10million towards the completion of DRIVEIT NQ,” it announced.
“This morning, Premier Annastacia Palaszczuk MP along with Scott Stewart MP – Member for Townsville, Aaron Harper MP and Les Walker received a personal tour of the site and the newly bitumen laid LVMA pad.”
Construction on the all-new 2.7 kilometre circuit began in August with the first phase set to be complete before the end of November.
The community-driven project had called for State Government investment after receiving $12 million from the Federal Government, and assistance from local government through a peppercorn lease on the 300 ha parcel of land.
DriveIt NQ Director, Pat Driscoll, previously told Speedcafe.com that investment from the state would help the project develop beyond a barebones facility.
“For $12 million they’re gong to buy $35 million of economic benefit for Townsville,” Driscoll said earlier this month.
“That’s a good (return on investment) no matter which way you look at it.
“It’s not a business profit, it’s an economic benefit and government’s need to invest in economic benefit.”
Construction on the racing surface itself is set to begin before the end of the year.
https://www.facebook.com/DRIVEITNQ/posts/1277134292456774
