Partly Cloudy

Partly Cloudy

max temp: 12°C

min temp: 10°C

ESTD 1874 Search

Suffolk: Chamber welcomes findings of horseracing economic study

16:11 27 January 2014

Suffolk Chamber chief executive John Dugmore, centre, and president, Peter Funnell, with Sophie Able, eastern region head of sales for the Jockey Club, including Newmarket Racecourses.

Suffolk Chamber chief executive John Dugmore, centre, and president, Peter Funnell, with Sophie Able, eastern region head of sales for the Jockey Club, including Newmarket Racecourses.

Archant

New research showing that Newmarket’s horseracing industry is worth more than £200million to the local economy has been hailed by Suffolk Chamber of Commerce as a “a prime example of business being Good for Suffolk”.

The chamber has adopted “Business is Good for Suffolk” as its campaign theme for 2014, with a programme of activity planned to highlight and showcase the many ways in which business has a positive impact on everyday life in Suffolk.

“There is no doubt as we focus on the impact of business on Suffolk in 2014 the role of Newmarket and the 8,500 local jobs alone it creates is fundamental to our economy,” said John Dugmore, Suffolk Chamber chief executive.

“People come from across the UK and Europe to Newmarket and from such things as temporary ‘events-related’ employment alone we can see wages totalling nearly £80 million coming out of the home of racing.

“The great success of Newmarket is a great example of how so many people benefit from a thriving and exciting business. As well as employment in the racing and breeding establishments, which are some of the best in the world, there are many opportunities for small firms which supply goods and services.

“This report is an opportunity for them to look and work with us and others about they can be best prepared to make the most out of being on the doorstep of Newmarket and all it offers.”

The study, published last week, identifies what it describes as “promising signs of potential for further growth in the horseracing industry” around Newmarket.

A recent stud purchase by an overseas investor, seen as a growing force in the sport, is cited as expected to lead to substantial additional investment.

In addition, the National Heritage Centre for Horseracing and Sporting Art is predicted to increase visitors and with them increased local expenditure, including discretionary shopping in Newmarket town centre.

“Nationwide, horseracing is a thrilling sport enjoyed by millions, brings in billions of investment and provides a livelihood for so many,” said Matthew Hancock MP, Minister of State for Skills and Enterprise and Member of Parliament for West Suffolk.

“As the report shows, its historic headquarters of Newmarket remains right at the centre of that today. It is encouraging to see the report identify the potential for the home of horseracing to contribute even more to the economy in future years.”

Search hundreds of local jobs at Jobs24

0 comments

The Dijksgracht, the largest vessel ever to call at the Port of Ipswich, passes under the Orwell Bridge.

The largest ever ship to call at the Port of Ipswich has passed under the Orwell Bridge – with less than half a metre to spare.

Bentwaters owner Sarah Brown (right) speaking with industry insiders at the Screen Suffolk launch in London

The Screen Suffolk deal which aims to bring film and TV productions to the county was officially launched at an exhibition in London on Tuesday night.

An artist's impression of Sizewell C

Community leaders who met to discuss Suffolk’s latest nuclear power station proposals have agreed its developers need to offer a better deal for the county.

Sports Direct founder Mike Ashley outside the group's headquarters in Shirebrook, Derbyshire.
Photo: Joe Giddens/PA Wire

First half profits at embattled retailer Sports Direct have taken a pounding following the fall in the value of sterling – but that has not stopped the firm, led by billionaire owner Mike Ashley, splashing out on a new corporate jet.

IPRS Healthcare group chief executive Martyn Jackson speaking at the launch in London of the company's new app for virtual consultations with its team of physiotherapists.

An award-winning Suffolk healthcare firm has unveiled an app to help people injured at work or in road accidents to access quick and effective physiotherapy advice via a smartphone or tablet.

Management Jobs

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24