Ballarat City Council is ready and set to consider ‘go’ on speeding up its search for a suitable spot to create the facility.

A feasibility report recommending a moving forward in determining a venue location will be tabled before council on Wednesday night. The report endorses progressing talks with Regional Development Australia and other Central Highlands councils on the proposed project.

City officers boast the capable of generating $308.61 million and 270,000 visitors annually for the region from events.

Ballarat councillor John Phillips, who chairs the Ballarat motor sport committee, said the project had taken a while to get to this stage and could take a little while longer to secure the right land and funding partners.

“We’re looking 360 degrees at every option available, because of the size of land required,” Cr Phillips said. “Ideally we would want (close), but we’re talking with other councils. We’re certainly not keeping it all secret.”

The hub would require between 250 to 300 hectares to deliver a multi-discipline motor sport facility with opportunities in driver education and training, industry testing and events.

Cr Phillips said Ballarat West Employment Zone’s expansion was starting to impact on Ballarat Light Car Club and Ballarat Drag Racing Club space. He said it was important to get moving on the project soon.