MEMBER for New England Barnaby Joyce says he is hoping to have both the "Los Angeles and the New York of the thoroughbred industry" within his electorate.
Tamworth, home to the state-of-the-art Australian Equine and Livestock Events Centre (AELEC), has cemented its reputation as a national hub for equine events in recent years.
But with the construction of the new White Park equestrian arena in Scone now completed, the thoroughbred capital could draw some of these events back into its own backyard.
Speaking at the arena's official opening in Scone on Saturday night Mr Joyce said the federal government's most recent round of money from the Building Better Regions Fund would only build on the region's reputation as centre of excellence in the thoroughbred industry.
The New England electorate will receive nearly $6 million under Round 3 of the program, with $800,000 allocated towards a $1.6 million project to construct a stable complex at Scone's Hunter Valley Equine Research Centre (HVERC).
"The application was made because we want to make sure this is the premiere facility for thoroughbred racing and as such it has to have the services to make that happen," Mr Joyce said.
The HVERC is planning to construct a 64 horse stable facility on its land in an equine precinct in Scone at Bunnan Road.
The facility would draw substantial income from trainers seeking to use the highly regarded Scone Race Track and benefit from the region's facilities and services.
HVERC will use the income to fund much needed research on bio-security, horse fertility and the health, safety and welfare of horses and workers.
Mr Joyce said the facility is expected to create an additional 31 full time jobs.
"It will complement and be a potential catalyst for other equine precinct developments," he said.