Goldfields Tourism Inc is confident the Labor government will follow through with its promise of $1 million funding for the project, announced in the lead up to last year's election.

The Harcourt Mountain Bike Park includes 34 kilometres of stacked, loop tracks on the site at the end of Picnic Gully Road, on the eastern edge of the township.

All of the trails will be confined within the former pine plantation, which borders the Mount Alexander Regional Park.

Should the funding flow, the group will be able to push ahead with writing tenders, completing studies for the Department of Envionment, Land, Water and Planning and starting physical works over the next 12 months.

Goldfields Tourism Inc chair Peter Skilbeck said despite the size of the project, there will not be a huge amount of physical works on the site.

"There will be almost no remedial works, we will be utilising existing contours," he said.

"We would envisage an extensive re-planting program and weed eradication."

The committee will also rely on other funding streams to fund the project.

Trail design company World Trail to devise the overall plan.

Once completed, the bike park could host international standard mountain bike events, and includes various difficulty levels.

Goldfields Tourism Inc has consulted with the Shire of Mount Alexander and other government bodies to ensure nearby roads and other public assets are not impacted by the park.

In its scoping study, the committee believes the park will support Harcourt as a "hub of cycling".

It states the economic benefit to the local area could be $2.4 million in the first year, and rise to $9.8 million in its fifth year of operation.

Mr Skilbeck said they wanted to make sure the Harcourt Mountain Bike Park was done right the first time.

"It's much easier to make it great in the first instance - there's no point aiming for less than the best," he said.