Council reveals $180m investment into Toowoomba economy
THE council has a revealed it spent more than $180 million with local companies in the past 12 months, and is close to hitting its targets.
Toowoomba
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THE Toowoomba Regional Council has a revealed it spent more than $180 million with local companies in the past 12 months, and is close to hitting its procurement targets.
The new figures came from the council's ordinary meeting last week, with the 12 month result showing 57 per cent of the overall amount went to companies based in the region.
It follows the TRC's commitment to increasing its investment in local contractors during COVID-19.
Acting finance and business strategy general manager Ann-Marie Johnston said the council's result for June alone was 59 per cent local ($18.7m), just shy of the target it had set.
"As you would be aware, council has been working very closely to engage our local suppliers wherever possible," she said.
"A lot of transactions has resulted in 59 per cent local for June.
"We had set ourselves a target for 60 per cent, and we're still working towards that target."
Another 32 per cent of June's procurement total went to Queensland companies.
Overall expenditure has been trending upwards in recent years, with the TRC spending nearly $320 million in procuring services in 2019-20.
That figure is the highest since the 2012-13 financial year (about $340m), and in that case local procurement represented just 26 per cent of the overall amount.