Today, Minister for Tourism, Sport and Major Events Steve Dimopoulos announced the $1.6 million investment to help design and plan the 150-ha motorsport precinct.
In Victoria, motorsport fuels an impressive 4,300 jobs and more than 1,000 events take place annually, ranging from the prestigious Formula 1 Australian Grand Prix to the renowned Australian Motorcycle Grand Prix.
Last year, Victoria had a 22 per cent share of all four-wheeled motorsport participation in Australia and the Home of Motorsport could help boost this number even further.
The Australian International Airshow 2023 is just one example of the high-octane major events that the new Home of Motorsport could bring to regional Victoria.