York venue whips up cash bonanza

Events at York's racecourse boosted the city's economy, researchers said

Racing at York's Knavesmire course brings millions of pounds into the local economy and supports thousands of jobs, a report by economists claims.

Experts from the city's university claimed their research indicated 1,350 full-time jobs were created in York by the races and other events.

And the 300,000 visitors to the racecourse were not afraid to dig deep and spend freely.

Visitors on race days and other events at the course spent about �44m in York.

The team of economists, led by Dr Bernard Stafford at the university's Department of Economics and Related Studies conducted their research over four months looking at the impact of the Knavesmire venue in the city.

Dr Stafford and his team also estimated the boosted spending and employment across the wider Yorkshire and Humber region at about �26m in 2007 - and supported a further 800 full-time jobs.

'Wider picture'

William Derby, chief executive and clerk of the course, said: "We commissioned the study from the University of York because, although we are widely regarded as a significant racing venue, we have always been conscious of our additional role as part of the economy of York and the wider region, yet the contribution we made in this capacity had not previously been quantified.

"Racing has taken place on Knavesmire since 1731 and we are proud of our position in the sporting, cultural and economic landscape of the city and region.

"An evaluation of our impact on the economies of the city and wider region as a whole was always, in a sense, the missing piece of the jigsaw and this report means we can now see a wider picture."

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