Horse racing galloped ahead this week with the official opening of a new headquarters for Horse Racing Ireland (HRI).

The state-of-the art facility, at Ballymany, The Curragh, Co. Kildare, was opened yesterday by the Minister for Arts, Sport and Tourism, Seamus Brennan.

The facility, completed at a cost of €8 million, came in ahead of schedule and within budget.

The opening of the new headquarters completes the relocation of the administrative headquarters of Irish racing from Leopardstown to the Newbridge area following an interim period in Kill.

Horse Racing Ireland (HRI) is a commercial Semi State Body responsible for the funding, development, promotion and administration of Irish racing as well as the operation of the Tote, the licensing of on course bookmakers, the promotion and marketing of Irish thoroughbreds overseas and the full or part ownership of Leopardstown, Navan, Tipperary, Fairyhouse and Cork racecourses.

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The most up to date figures available show that by the end of 2007, Horse Racing Ireland had received over €375 million from the Fund and all indications are that its Fund allocation in 2008 will be in the region of over €60 million.

The fund has helped towards providing some top class racing venues and facilities and it has also generated significant employment in the industry, with up to 18,000 people now earning a living from the success of the Irish horse and the horse racing industry.

The revenue generated from the thoroughbred breeding industry alone is climbing towards €400 million a year which gave some indication of how important the fascination with the Irish horse is to this country.

Minister Brennan, speaking at the opening said that Ireland now has a well-earned reputation as a world leader in the horse industry, "but we must never allow ourselves become complacent or ease off on the reins in what is a fiercely competitive global industry".

He said: "I particularly welcome the soon to be completed new strategic plan that is designed and shaped by the Board of the HRI to take Irish racing into the next decade.

"I am confident that it is a plan that will have the vision, the practical proposals and the roadmap for the future that will keep Ireland competing and successful at the very top of the horse-racing world".

(VB)