Plymouth City Council has smashed its own local spend target.
As part of its COVID-19 economic recovery plan the Council made an ambitious commitment to increase its local spend by 10 per cent over two years. This target aimed to provide 280 additional jobs and generate an additional £8.20 million GVA (Gross Value Added) for the Plymouth economy.
Council Leader Nick Kelly said: “I thought it was important to inform the people of Plymouth that the Council spent around £40 million more with local businesses this last financial year than the previous year.
"That’s an additional 907 jobs and an additional £22.34 million GVA into the Plymouth economy. This means more jobs and increased job certainty for Plymouth people, with more money coming into Plymouth businesses.
"This spend was also spread across an increased number of local suppliers, meaning the Council has supported numerous local businesses during these uncertain times.”
The work does not stop there. While restrictions may be lifting and the city seeing a return to a more ‘business as usual’ approach, Councillor Kelly added: “The Council is dedicated to maintaining an increased level of local spend as the city continues to recover and looks to the future.”
The Council is taking its commitment to maximise the benefits of spending for the city’s economy, society and environment one step further by setting a brand new Social Value target.
Social Value is the term that is used for quantifying the additional benefits that the community will get from the monies that the Council spends; meaning more local jobs, more local skills and improving our local environment for future generations.
This coming year the Council aims to secure ‘Social Value’ to 20 per cent of contract value. It is an ambitious target but the Council aims to lead by example and encourage other public sector organisations to follow suit.
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