December 12, 2017
Toowoomba Regional Council has endorsed a new three-year funding deal for the Toowoomba and Surat Basin Enterprise (TSBE), a key economic development organisation in the region.
Councillors at their December meeting adopted an Economic Development Committee’s recommendation to begin a new three-year funding arrangement between Council and TSBE from January 1, 2018.
Toowoomba Mayor Cr Paul Antonio said the funding certainty would allow TSBE to advance its economic development work and further capitalise on the region’s bold ambitions.
“Council will provide TSBE with $450,000 in the first year of the new funding agreement with subsequent years’ funding to be adjusted in line with CPI,” Mayor Antonio said.
“The new deed will require TSBE to present a formal quarterly update of their extensive undertakings to Council.
“TSBE has provided regular updates in the past, but Council felt it wanted a more in-depth presentation to be made every quarter, starting next year.
“Since its establishment as a wholly owned subsidiary of Council, TSBE has grown considerably to be regarded as the leading regional economic development organisation across Australia.
“It is highly respected across business circles and has played a critical role in promoting this region to potential investors in Australia and overseas, and offering advice and research to help new businesses and organisations either move here or generate new markets.”
