Minimum prizemoney of $20,000 per TAB race and the implementation of 40 "showcase" meetings where each race will carry $30,000 in stakes, were the major announcements made when NSW Deputy Premier and Racing Minister Troy Grant joined with Racing NSW chairman John Messara and CEO Peter V'Landys at Dubbo Turf Club.

The changes will come into effect on July 1 next year, with the stakeholders moving quickly after tax parity legislation bringing the NSW industry into line with Victoria passed through Parliament last week.

In total the changes will add up to a boost of $21 million to the country and provincial sectors, with country prizemoney to total $69 million per annum.

Changes are also being mooted for the harness racing industry while an announcement regarding the greyhound sector will be held back until March when the findings of an inquiry into the sport are released.

"It's been a lot of hard work to get to this point but it's pleasing that we've been able to achieve parity and also balance the books as a whole," Grant said.

"As a government, whenever you take away some of your revenue you have to make up for that somewhere else or find another way of bringing it in, but with the help of Mike Baird and Gladys Berejiklian we're in a pretty good position that has made this possible.

"We needed to bring racing in NSW up to a point where it could compete with Victoria, and this is a good way to do it. This is only the start though, we will be doing more as time rolls on because the racing industry is a significant one for NSW and employs a lot of people directly and indirectly."

These latest benefits for country and provincial racing follow the introduction last season of the Country and Provincial Championships and the recently-commenced Highway Races for country-trained horses, which provide a further $1.6 million in prize money annually for bush participants.

Racing NSW has also committed approximately $50 million for capital works at Country and Provincial race clubs throughout NSW from accumulated race fields fees.

Peter V'landys also announced that Racing NSW will launch a new traineeship and apprenticeship scheme for youth in regional NSW by committing $1 million per annum to the scheme.

"The first priority of the scheme will be to employ apprentice track curators throughout NSW," said Mr V'landys.

"Having well-maintained tracks and facilities is imperative to levelling things out for bush horses.

"If the facilities in Dubbo and the other bush centres are top class then the horses can be better trained and prepared, and with the increased prize money the whole industry will become more attractive to potential owners. It all trickles down from the top.

"The Baird government, with a lot of work from Troy Grant, has worked tirelessly to try and put us on an even keel with Victoria, and we've been able to do that now and it will be everyone - owners, trainers, jockeys, strappers, club employees - that will benefit."