Wealthy family to build $175m motorsport and entertainment venue in southeast Queensland
A family business that built Toowoomba’s international airport is now building a new $175m motorsport facility.
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A family business that turned cow paddocks into an international airport in regional Queensland will now invest tens of millions of dollars in building the state’s largest entertainment and motorsport precinct.
Toowoomba’s Wagner family has proposed the Wellcamp Entertainment Precinct (WEP), a $175 million project that will incorporate motorsport, driver-training and a 40,000-person performing arts venue.
The state government on Friday committed $40 million to the project which Queensland Premier Annastacia Palaszczuk said had the potential to “revolutionise” the economy of Toowoomba and the Darling Downs.
There has been speculation the course may draw the V8 Supercars annual event from the Willowbank track in Ipswich and possibly host a round of the Indycars.
The centre will also boast business, tourism and event facilities as well as accommodation for up to 5000 guests.
Treasurer Cameron Dick called on the Federal Government to match Queensland’s contribution to ensure WEP can become a reality.
“This project would support 130 jobs during construction and up to 2,500 jobs when hosting major events,” Mr Dick said.
“The Palaszczuk Government supports the project with $40 million and today we call on the Federal Government to match this.”
The Wagners have shown great faith in Toowoomba’s economy and its future.
They were behind Toowoomba’s Wellcamp Airport, 10 km west of the local CBD, the first privately-funded major airport in Australia.
President of the Federation Internationale de l’Automobile Jean Todt said there was an “urgent” need for permanent motorsport facilities in Australia and has thrown its support behind the Wagners.
“The FIA is strongly supportive of this exciting project,” he said.
Motorsport Australia CEO Eugene Arrocca said the WEP would bring enormous social, economic and community benefits to the region and had the potential to attract major international events.
“The circuit design has the potential for the venue to host international and even World Championship motorsport events,” he said.
Ms Palaszczuk said the Wagner family’s record of delivering world-class projects, especially in this region, was without peer.
“Their vision, imagination and drive to succeed has turned paddocks into an international airport and trade distribution centre that, with the support of my Government, is also home to the Qantas Group Pilot Academy.
“Now, the Wagners are ready to take Wellcamp to an entirely to new level.”
Wagner Corporation Chairman John Wagner said they had already committed to investing $95 million to fund the development of the Wellcamp Entertainment Precinct.
“The Wagner family will invest with the state and federal governments support in the order of $95 million of our assets and funds into this project,” he said in a statement.
“We are keen to start construction early next year to help kick start the economy post COVID-19.”
Community consultation and planning approvals will still be required before any work starts although it has already had endorsements from local and international motorsport bodies.
Originally published as Wealthy family to build $175m motorsport and entertainment venue in southeast Queensland