The NSW government has signalled it would like to see the Newcastle 500 Supercars race return to the city for another five years.
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Wharf Road closed for two months on Wednesday as work started on installing barriers, grandstands and other infrastructure for the next race weekend from March 10 to 12.
This year's season-opening round marks the final instalment of the state government's five-year contract to host Supercars racing in Newcastle.
The contract includes a five-year option, and parliamentary secretary for the Hunter Taylor Martin said on Wednesday that the government would evaluate the race weekend's costs and benefits after March.
"We'll look at all the economic data, the feedback from residents, the feedback from businesses, and of course we'll be consulting with the City of Newcastle about their experience," he said.
"It's a great event, broadcast around the world, and really we do hope to see it continue.
"It's an exciting day. I understand there's different views from around Newcastle and the Hunter."
The event has drawn large crowds to the city's picturesque coastline, but Newcastle East Residents Group has fought a bitter campaign to have it moved away from the heritage precinct.
Lord mayor Nuatali Nelmes said at Wednesday's launch of the track build that a council survey had shown the race enjoyed "overwhelming support" across the local government area.
"There is a bit of a buzz around Newcastle. You can feel that in the air," she said.
"There are a small amount of people who are affected.
"Our path forward is to make sure the effects and the concerns of those residents and businesses aren't too much to deal with in terms of having an event back here for the following five years of the agreement."
The Newcastle Herald reported on Tuesday that some affected residents were concerned about the lack of a government engagement officer in the Office of Sport to deal with complaints.
The government has referred residents and businesses to a Supercars-employed engagement officer unless the matter relates to the Motor Sports Events Act.
Mr Martin said the government would take on board feedback about this year's engagement process "and look at what can be done differently for next year's event."
The event organisers have truncated the track build from five weeks to four, but park, road and car park closures will remain in place for much of the next two months. Nobbys and Newcastle beaches will remain open, but the Nobbys western car parks are closed.
Supercars' Newcastle community manager, Chris Yates, said the track build represented a "big challenge" for nearby residents and businesses.
"It has a disruptive effect on their lives in terms of the build process, not just people who live here but people who commute around," he said.
He said Supercars had information on its website about road closures and other details of the construction period and had completed letterbox drops.
This year's race will be the debut for Supercars' third-generation Ford Mustang and Chevrolet Camaro race cars.
Cr Nelmes said City of Newcastle was undertaking "deep community consultation" on the race's impacts and benefits.
She said she would like to see the Newcastle 500 remain as the opening or closing round of the season to attract more attention and take advantage of better seasonal weather.
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