A new project called Q-SEED aims to boost Townsville's economy by encouraging the city to spend more money with local businesses supported through Advance Queensland’s Collaborative Projects.
Townsville is on the cusp of a major economic transformation, thanks to a place based approach to collaboration known as Q-SEED (Queensland Social Procurement, Employment and Economic Development). With almost $200,000 in funds provided through Advance Queensland’s Collaborative Projects, Q-SEED is set to revolutionise the way the city spends money, creating a ripple effect that benefits local businesses, young people, and the entire community.
Investing Locally for Big Impact
Currently in Townsville $14.1 billion is spent annually. Q-SEED aims to shift 5% of that spending inwards, towards local businesses and suppliers. This seemingly small change has the potential to generate a significant economic impact, with estimates suggesting a $311 million boost and the creation of approximately 902 jobs.
Building Bridges
Q-SEED is led by CQUniversity with procurement consultancy ArcBlue and economic activation partner Smart Precinct NQ. The project brings together a diverse group of stakeholders, including industry leaders, businesses, youth organisations, and young people themselves. Through workshops and discussions, they're co-creating a framework that promotes local spending, social procurement (prioritising businesses that create positive social outcomes), and inclusive employment practices.
Future of Townsville's Workforce
Q-SEED also recognises the importance of young people in Townsville's future with this component supported by The John Villiers Trust, CQUniversity will be working with young people, youth organisations, and employers to begin co-designing what "sustainable employment" looks like for the city's youth. This focus on creating meaningful and long-term job opportunities ensures a brighter future for Townsville's young workforce.
Be Part of the Change
The project is still in its early stages, but the momentum is building. By working on this complex challenge with partners and support through Advance Queensland, Q-SEED has the potential to transform Townsville's economic landscape, creating a thriving and sustainable future for the city and its residents. CQUniversity, ArcBlue and Smart Precinct NQ will host more Q-SEED events in the coming months. To find out more about Q-SEED, visit the Smart Precinct NQ website and register your interest in the future events by emailing qseed@arcblue.org
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Last updated: 14 Aug 2024