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CABINET 5 NOVEMBER 2019LOCAL WEALTH BUILDING AND SOCIAL VALUE IN PROCUREMENT ___ Responsible Cabinet Member Councillor Charles Johnson, Efficiency and Resources Portfolio Responsible Director Paul

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What is local wealth building?

Local wealth building is an economic strategy aimed at fostering community self-reliance by investing in local businesses, resources, and institutions to create sustainable job opportunities and enhance local economies.

Who is required to file local wealth building?

Typically, local businesses, community organizations, and municipalities engaged in wealth building initiatives are required to file local wealth building documentation to track progress and compliance with local economic development plans.

How to fill out local wealth building?

To fill out local wealth building documentation, entities should complete the required forms by providing details such as the nature of the local investments, economic impact assessments, and documentation of local resource utilization.

What is the purpose of local wealth building?

The purpose of local wealth building is to strengthen local economies, promote equitable growth, enhance community assets, and reduce dependence on external economic forces.

What information must be reported on local wealth building?

Information that must be reported includes financial contributions, economic outcomes, job creation metrics, community engagement levels, and a summary of local asset utilization.

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