Partly Cloudy

Partly Cloudy

max temp: 9°C

min temp: 4°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”.

shares

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.”

shares

0 comments

A colder than normal start to the year has boosted British Gas profits.

Profits at British Gas are set to rise after the energy supplier revealed a boost in consumption following a colder than normal start to the year.

Matthew Embley,  RDC recycling services manager, left, and Gary Griffiths, RDC international partners compliance, with the company's gold Zero Waste award.

Information technology reuse and recycling company RDC has received a gold Zero Waste Award from the letsrecycle.com website.

Angela Rushforth, managing director of Ridgeons, with the firm's Investors in People gold accreditation.

Regional timber and builders’ merchant chain Ridgeons has been awarded a “gold” rating under ther Investors in People (IiP) programme.

Alex Till of Menta.

Suffolk-based Enterprise agency Menta and the county branch of the Institute of Directors (IoD) are working together to help Suffolk business owners as they strive for growth.

The water unit from the Prince's Street fire station with Ipswich with officials from the Port of Ipswich and students from Suffolk New College at the water safety demostration hosted by the port.

The Port of Ipswich teamed up with Suffolk Fire and Rescue Service to stage a rescue simulation off Orwell Quay.

From left, Chris Chamberlain from HTK, Vicki Cole from Crafted and Helen Dodman from Ipswich Central, the three organisations behind the Destination Digital conference.

The company behind the delivery of the Ipswich town centre Business Improvement District project has teamed up with two local digital specialist to stage a conference on online marketing for the tourism and hospitality sectors.

French Connection has warned that it faces a substantial loss when it posts its annual results.

Fashion chain French Connection today warned that it now expects to make a big annual loss after seeing its recovery hopes dashed by a difficult spring trading period.

Andrew Harrison, managing director of Stansted Airport.

Manchester Airports Group, parent company of Stansted Airport, scored a four-star rating in Business in the Community’s 2015 CR Index.

Dominic Casserley, group chief executive of Willis.

Global risk advice and insurance broking firm Willis has launched a 550million euro (£393m) offer to take full control of the French broker Gras Savoye.

Sainsbury's is to cut 800 jobs as part of a restructuring of its store operations.

Sainsbury’s is to cut 800 jobs as it becomes the latest supermarket to restructure its operations in the face of tough trading conditions.

Most read

Most commented

Topic pages