Simple answer mate...money, politics (of drag-racing organisations), and insurance.
Money...you have to find someone good hearted enough to pay to set up a facility with maybe a 1/8 mile drag strip, burnout area, and skidpan...that costs big moolah, believe me. Before that though the interested party would have to go through all sorts of council approvals and complaints from "not in my back yard" people who don't want it near them. Then you have to be garanteed of clients who will pay to use the place regularly...yes, pay...no-one is going to set up a place like this as a charity. If no-one ends up using it, it will fall on it's arse and die.
Politics of drag racing bodies: I once asked sveeral very in-the-know people about why we don't have a drag strip, even a 1/8 mile set up, in Bundaberg...the answer was that there is a strip at Willowbank and one at Bernaraby 200 km away...if someone wanted to build one, an officially recognised one here, they wouldn't get ANDRA approval...something to do with distance from other drag strips. This brings us back to someone paying out big to set it up themselves and running it privately.
Insurance: Don't get me started...our motorbike club has to pay an exhorbatant amount each year in insurance just to run a one-day motorbike rally in case some schmuck falls off his ride and decides to sue us...we have filled out indemnity forms, saying it is all "at your own risk", but apparently these common forms aren't worth the paper they are written on...if you want to sue, you can go to court and even if you have signed a carefully worded form saying you knew the risks about whatever activity you have undertaken, it is disregarded in court. Any fun sport, from rent-a-go-kart tracks to sedate motorcycle ride days to horse riding clubs are slapped with massive insurance premiums because of a percieved risk in these activities.
Basically, it is all too hard. If I won Lotto I might consider doing something just for the hell of it, but even with millions behind me I would be checking that all the people who say they would attend something like that regularly and pay for it aren't just pissing in the wind, and were serious about getting off the streets.