It was part of $4.2 million in funding for the harness racing industry announced by the NSW Government on Tuesday.

Member for Bathurst Paul Toole said harness racing is a much-loved industry in NSW and Bathurst is the home of the sport in this state.

"Bathurst is one of the biggest hubs for harness racing in NSW, which is why the NSW Government is supporting the future of the industry in our region by working with Harness Racing NSW (HRNSW) to develop this training centre," Mr Toole said.

"The centre will be an enormous boost for our community, creating around 30 jobs."

He said permanent stabling for up to 60 horses will be constructed, as well as a training track and day paddocks.

"This centre will massively enhance the capabilities of the harness racing industry here in Bathurst and will allow the sport to grow and thrive well into the future," he said.

Minister for Better Regulation and Innovation and Minister Responsible for Racing Kevin Anderson said the NSW Government will also provide funding for facilities to rehome former harness racing horses, giving them a new lease on life when they have finished racing.

"We have worked with HRNSW to identify locations in communities like Bathurst where retrained horses will be tasked with new lives, including as horses for disabled riders and other special needs groups," he said.

"The standardbred is intelligent and has a gentle nature which has proven to be the perfect companion for so many and, when retrained to be ridden, will offer many people in the community a lifetime friend."