Rockhampton businessman and keen race horse owner Peter Boodle is the new chairman of the Rockhampton Jockey Club.

Mr Boodle was elected last night as the RJC met for the first time since its annual general meeting and the retirement of former chairman Bill Ouston.

Long-time committee member and thoroughbred breeder Bruce Watts was elected vice-chairman.

Mr Boodle said he was honoured with his appointment but recognised that there were numerous challenges facing the younger and less experienced committee who would need to work effectively together to help sustain the club's growth.

"The club is entering its third year of operations since the reverting of full ownership to the club from Racing Queensland and the financial assistance for that transition has now ceased," he said.

"In tougher economic conditions this will challenge the committee to grow income from other sources, both raceday and non-raceday, while containing the costs, particularly of major utility expenses of electricity and water."

Jeff Leaver, business director of a regional finance broking company, was elected as treasurer after not pursuing his previous role of vice-chairman.

Mr Boodle said the club had been fortunate to have such capable and dedicated service from the retired chairman Bill Ouston and treasurer Jim Mason.

He said the club would recognise their dedicated contribution and achievements in an appropriate way.

Mr Boodle outlined a new initiative of the club with the creation of a steering committee for the Capricornia Yearling Sale and the strong push to build a four-day regional event based on the race meetings and social activities, culminating with the sale day undercover at the Rockhampton Showgrounds.

He said discussions had already been held with the Minister of Racing and Tourism who indicated funding support would be sought to build the event which includes the very successful "Hats & Heels High Tea" event.

"The Magic Millions Gold Coast sales, race and social events are a great concept to replicate," Mr Boodle said.

"Regional government funding helps the Gold Coast Turf Club and Magic Millions develop and promote that event.

"The RJC in conjunction with the Central Queensland Thoroughbred Breeders' Association will be asking for the regional enterprise and statutory authorities to assist in the development of the regional events to further expand the attraction of Rockhampton for regional visitors over that period in mid-April."