Tasmanian Premier Will Hodgman today announced that his Government will support the state's largest annual event for a further five years, until 2019, as well as $2 million upgrades to the Symmons Plains to benefit all forms of motorsport.
"We are delighted Premier Hodgman and the Tasmanian Government have continued their incredible support of V8 Supercars and motorsport in Tasmania," Mr. Warburton said.
"This five-year contract will ensure Tasmania retains the economic benefits of the biggest annual event in the state and, critically, includes long overdue circuit upgrades which creates a legacy for all motorsport.
"It's vitally important that V8 Supercars plays its' part in working with Government and CAMS to ensure modern permanent facilities are provided for all levels of motorsport."
Mr. Warburton said that with agreements now renewed with all Government partners V8 Supercars would continue to showcase motorsport to every state and the Northern Territory.
"V8 Supercars is proud to be able to continue as the only elite national sport by bringing the world's best touring car Championship to every state and the Northern Territory," Mr. Warburton said.
Premier Hodgman said the Tyrepower Tasmania 400 was a key tourism driver for the state.
"We're committed to building on our competitive strengths such as tourism to support and create jobs, which is why we have worked hard to secure the V8 Supercars series for Tasmania," Premier Hodgman said.
"By agreeing to a five-year deal, we have been able to provide certainty for the future while delivering a more cost-effective outcome for the taxpayer.
"Every year more than 55,000 spectators are drawn to the Symmons Plains International Raceway, injecting almost $5 million annually into the local economy. The event is a major drawcard for around 3500 interstate visitors per year, which has an enormous flow-on effect for other tourism destinations."
Following the Government funding extension, which will include significant circuit upgrades, Tyrepower also renewed its naming rights partnership of the event for the next three years.
"I am also extremely proud to announce that Tyrepower will also extend its current naming rights partnership," Mr. Warburton said.
"Tyrepower is the perfect partner of V8 Supercars in Tasmania and within the Championship. This announcement ensures V8 Supercars retains its national footprint which fits perfectly with Tyrepower's presence in all Australian states and territories.
"We very much look forward to working with the Tyrepower team on their brand exposure and promotions across the next three years."
Tyrepower Chief Executive Officer David Wilson said the tire retailer was looking forward to continuing its strong partnership with V8 Supercars.
"Tyrepower is very excited to be locking in long-term as the official naming rights sponsor for the Tyrepower Tasmania 400, as well as expanding our sponsorship footprint throughout Australia from February to December each year" said Mr. Wilson.
"We would like to thank the Tasmanian Government, V8 Supercars, sponsors, volunteers, teams and drivers for their hard work in putting together a fantastic experience for us this year and we look forward to working closely with you all well into the future.
"We also thank you, the V8 Supercars fans. Many of you are Tyrepower customers whose passion for this sport (and your cars) helps keep our Tyrepower members in business. That's right, all 250 Tyrepower stores are run by owner operators."
The Tyrepower Tasmania 400 this year attracted 52,000 patrons across the three days and an average television audience in Australia of more than one million viewers. The event also secured more than 1.4 million web page views.
The Tyrepower Group was formed in 1977 by ten independent tire retailers. Tyrepower was founded to offer the consumer the flexibility, savings and value of an independent dealer network and has now grown to be the largest independent tire retailer in Australasia.
In Australia, Tyrepower operates in all states and territories, with senior management based in Queensland, New South Wales, Victoria and Western Australia.
Tyrepower is also the largest independent retailer in New Zealand. There are Tyrepower stores from the north to the south. The group is recognized by the major tire manufacturers as an integral part of the tire industry in New Zealand.
The focus of all Tyrepower stores is to provide knowledgeable and friendly customer service which will see Tyrepower become Australasia's biggest and most respected tire retailer.
V8 Supercars will release its 2015 calendar next month with the Tyrepower Tasmania 400 likely to be staged in late March.