Council injects hundreds of millions into local businesses
Date published: 13 August 2019
Townsville City Council is continuing to show its commitment to boosting the city’s economy – with local businesses supplying 85% of procurement services last financial year.
A report presented at today’s Governance and Finance Committee meeting highlighted during the 2018/19 financial year, Council injected nearly $300 million into the local economy.
Governance and Finance Committee Chair Cr Verena Coombe said it is important for Council to lead the way in supporting local businesses.
“Council is committed to investing rate payers money back into the pockets of Townsville locals,” Cr Coombe said.
“For every dollar spent locally, it circulates through the economy 13 times in the form of wages, leases, goods and services.
“Small to medium businesses make up a huge and crucial part of Townsville’s economy. These businesses were some of the hardest hit during the Monsoon event and it is important for us all to be conscious of helping these businesses get back on their feet.”
Cr Coombe said buying locally is another key commitment delivered by Council.
“While value for money is an important part of procurement, Council has taken steps to increase the weighting to favour local businesses. This to ensures ratepayers’ money is being spent efficiently while also supporting employment for locals.
“This financial year Council has budgeted $838.1 million in operational services and infrastructure projects which will provide even further opportunities for local businesses in the coming year.”