Toronto, ON – The Ontario Racing Commission (ORC) today announced that the Ontario Ministry of Finance has confirmed a continued commitment to the highly successful Quarter Horse Racing Industry Development Program (QHRIDP). For the 2011 through 2016 period, the QHRIDP will receive a fixed amount of $8 million annually from the Ontario Slots at Racetracks Program at Ajax Downs.
The QHRIDP was developed by the Ontario Racing Commission with the cooperation of the horse industry to support the development of a strong and sustainable Quarter Horse racing industry in Ontario. Since its inception in 2007, the QHRIDP has evolved as a model for the creation of industry confidence through detailed long-term planning, informed by an inclusive and on-going consultative process with participants and stakeholders.
Program objectives are specifically targeted to achieve the goals of the Ontario Slots at Racetracks Program to promote and improve the quality of live horse racing in the Province and to benefit the agricultural sector of the rural economy.
The fixed funding value of $8 million annually will allow the QHRIDP to continue to build industry infrastructure, which include the development of a trained labour pool and the cultivation of local industry expertise, without the element of funding volatility that is inherent in a percentage-based slots commission formula.
“The funding guarantee puts us firmly on track to achieve a sustainable program for Quarter Horse racing in Ontario over the long-term,” said Rod Seiling, ORC Chair. “We are very pleased with the government’s recognition of the success of the program’s approach and this commitment of funding will allow us to move forward with assurance.”
To ensure ongoing accountability for Program funding, the ORC will continue to report annually to the Ministry of Finance on how funds have been used and the results achieved.
Starting January 1st, 2011, the Ontario Lottery and Gaming Corporation (OLG) will provide an annual payment of $8 million to the Program, through to 2016 when the current term of the site-holder agreement at Ajax Downs ends.
In 2014, a consultation and planning process is scheduled to begin, with the goal of developing an appropriate funding mechanism for the QHRIDP to ensure stability and sustainability beyond 2016.
Additionally a consultation process will begin in 2012 to determine how best to administer and manage the horse racing industry’s commissions from Ajax Downs going forward.
Through 2010 and forward, the ORC will continue with the consultative planning process that has been established for the QHRIDP to develop long-term and detailed projections for the program, allowing industry participants to invest with confidence.
