Nine leading borough institutions have already signed up to exciting council plans to establish a “buy local” model across the borough.
Dudley Council set up the Community Wealth Building Commission last week along the lines of the nationally lauded “Preston Model”.
It comes after key partners in Preston returned almost £200 million to the Lancashire city’s economy by buying local.
After forming the commission, Dudley Council bosses pledged to quickly hold talks to bring in partners as “anchor institutions”.
Chief Superintendent Sally Bourner (centre), of West Midlands Police, with Neil Buckton of Dudley Clinical Commissioning Group (CCG) at the inaugural meeting of the new Dudley Community Wealth Building Commission at Himley Hall
And following a meeting at Himley Hall, nine have already signed up.
The commission will meet regularly to discuss ways of keeping the money it spends in the local area.
Councillor Qadar Zada, leader of the council, said:
We are delighted that so many key institutions in the borough have already signed up to join us in the new Community Wealth Building Commission.
The groups we now have on board have combined budgets of well over £1 billion a year, so there really is massive potential here.
By striving to make sure that wherever possible those budgets are spent locally, utilising the skills and resources of borough residents, this should bring massive benefits for everyone in the borough.
We are therefore delighted to be making our first steps to develop a Dudley model to support the communities, residents and businesses of our borough.”
Notes to editors
The “Preston Model” saw the council team up with partners including the local police, housing association, colleges and university to offer work to local contractors where possible during procurement processes.
The model has supported more than 1,600 jobs by using the city’s anchor institutions and local government contracts to keep money in the local economy.