Over £288 million has been injected into the local economy over the last three years as a result of the City Council’s Procurement Strategy, which includes a commitment to increase spending with local firms, creating jobs for local people.
Since 2014, a total of 567 contracts have been awarded to firms by the Council as part of its role to provide vital services to local people.
69% of the total contract value – worth £288 million – has been awarded to local suppliers, creating 364 entry level jobs and apprenticeships for local people.
In 2016/17 alone, £48 million worth of Council contracts were awarded to small and medium-sized enterprises (SMEs) in the City.
The City Council’s Deputy Leader, Councillor Graham Chapman, said: “Clearly, the commitment we have made to use local suppliers wherever we can is paying dividends for the local economy, creating business for local firms and jobs for local people. It’s particularly pleasing to see such a high proportion of small and medium-sized enterprises benefitting.
“As well as providing a boost to the local economy, our Procurement Strategy has also helped save the Council and therefore Council Tax payers £2.7 million a year on average.”