Representatives from New Jersey’s thoroughbred and standardbred industries are busy developing a business plan in an attempt to save racing in the state

, and according to a story on CNBC.com the plan – unlike many other racing jurisdictions - will not be reliant on slot machines.

Instead, internet wagering and off track betting parlours will be among the focal points of the plan that will be presented next month to Gov. Chris Christie. The governor recommended doing away with a $30 million subsidy to the racing industries from Atlantic City casinos.

"It's a fight for survival," said Tom Luchento, president of the Standardbred Breeders and Owners Association of New Jersey, who has been working on the plan. "If we don't get an influx of money, it's over in New Jersey for racing. I don't think anybody wants that. This is a much larger business than just horses going around the track at the Meadowlands."

Sen. Jennifer Beck, a Monmouth County Republican who has been working with the horsemen and will help present their ideas to the governor, said the plan is to restore horse racing to a thriving industry in five years. Luchento said the industry would ask for continued state support until it can become self-sufficient.

The plan also includes changes at the state's thoroughbred and standardbred race tracks like shorter racing seasons with bigger racing purses and more special events at the tracks.

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