Regina city council voted to pass the Indigenous Procurement Policy, which will see Regina working towards awarding 20 per cent of its projects to Indigenous-owned businesses and companies.
The procurement policy is effective immediately and is meant to put tools in place to foster success for Indigenous-led businesses, according to a news release from the City of Regina.
“Economic fairness is imperative for our collective future,” said Regina mayor Sandra Masters. “It requires us to understand where barriers exist and to collaborate with, and learn from, Indigenous partners to find solutions. We are grateful for these partnerships and their guidance through this process.”
The policy was developed with the Indigenous Procurement Advisory Committee (IPAC), which provided support to the team to implement the policy.
Currently, the city spends approximately $200 million on procurement per year, with 0.15 per cent procured through Indigenous business, equalling approximately $300,000, according to the city.
At current procurement levels, a minimum 20 per cent Indigenous procurement value would result in at least $41 million worth of goods and services being procured through Indigenous businesses.
“This commitment to a minimum 20% total spend is historic and will benefit not only our Indigenous business community but our community at large through the reinvestment that most Indigenous businesses make in supporting our local economies,” said Thomas Benjoe, president and CEO of FHQ Development, in the release.
An Indigenous Procurement Partner was hired and is working to connect with stakeholders to help with the rollout of the policy.
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