New Zealand Thoroughbred Racing has embraced a report revealing the industry contributes over a billion dollars to the economy.

In last year's season, almost 10,000 people worked in the industry - and race attendance was at under half a million.

Chief executive Bruce Sharrock says the company has been experiencing rapid growth over the last 6 to 8 months.

"There's certainly some green shoots appearing for continued growth, that's for sure."

LISTEN ABOVE