Council approves funding deal with lobby group TSBE

THE council has renewed its funding arrangement with economic lobby group TSBE for another three years, at a cost of well over $1 million.

TSBE CEO Ali Davenport. Picture: Kevin Farmer

THE Toowoomba Regional Council has renewed its funding arrangement with economic lobby group Toowoomba and Surat Basin Enterprise for another three years, at a cost of well over $1 million.

Councillors voted in favour of the renewed funding deed at Tuesday’s ordinary meeting, with the money to run until 2024.

Cr Bill Cahill was the only councillor to vote against the motion.

The funding deed, which starts from January 2021, will provide $474,270.93 in the first year with a CPI adjustment each following year.

Initially set up in 2011 to act as the lead economic development agency for the region, Mayor Paul Antonio said the organisation had proven invaluable over the past decade.

“We first set up this organisation a few months after the devastating floods in 2011 with the entire region trying to recover from this event,” he said.

“We identified the need for an economic driver for this region and setting up TSBE was our way of helping us achieve this.

“Over the past decade we’ve seen the completion of the Toowoomba Bypass, a new international airport, the redevelopment of Grand Central Shopping Centre as well as a host of new innovative businesses emerging within our region.

“This has helped create a dynamic economic context for TSBE to operate within.

“It’s clear the faith in the Toowoomba region has grown considerably during this time and TSBE has been a major contributor to ensuring we are well-positioned throughout this journey.”

Associated with the deed is a document which specifies the council’s expectations of TSBE’s economic development activities relating to the region and the implementation of the Toowoomba Region Economic Development Strategy.