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Queensland sees economic opportunity in 2032 Brisbane Olympics

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Queensland sees economic opportunity in 2032 Brisbane Olympics
While Victoria pulls out of a global event due to cost, Queensland is relishing how the government’s Olympic spend will support business.

The Queensland government expects $180 billion in government spending between now and the Olympic Games in 2032 and is looking to give Queensland businesses a leg up to have a large share of it.

The state government has released its Q2032 Procurement Strategy, incorporating the existing “Buy Queensland” approach which looks to advantage local businesses and get them ready to successfully compete for state contracts.

The new policy includes a published procurement pipeline as well as special advisors to work with businesses to prepare them to vie to supply Olympic Games related projects.

The new strategy has specific elements designed to maximise the opportunities for small, First Nations, regional and sustainable businesses to land Government contracts.

The Buy Queensland approach, which has been in place since 2017 has already resulted in Queensland businesses sharing in over $57 billion in government procurement.

 “I have always said that all of Queensland will share the pride of hosting the 2032 Olympic and Paralympic Games,” said Queensland Premier, Annastacia Palaszczuk.

“That includes Queensland businesses.

“Buy Queensland already has the runs on the board when it comes to ensuring local businesses benefit from a government putting them first.

“We want to put the Q in 2032 and that’s what this policy achieves.”

“Buy Queensland prioritises Queensland businesses for government contracts – it’s been a massive success since it was first adopted by our great sporting state in 2017.

“This procurement approach multiplies the value of government spending and ensures the benefits are shared among Queenslanders.

“It creates more jobs and greater community benefits because every dollar we spend here in Queensland circulates throughout our economy many times over.”

The state’s public works minister, Mick de Brenni, said the policy was about elevating all businesses across the state to be globally competitive.

“The Q2032 Procurement Strategy means we’ll give priority to firms that employ Queenslanders, companies that invest in our state and our people, and those which use local materials and produce, to help keep Queensland on the winner’s podium.”

Business Chamber Queensland CEO Heidi Cooper said it was important that the Brisbane Olympic Games left a legacy for business in Queensland.

“Already the business community is thinking about the next decade. Businesses need to know what that legacy means for procurement, sustainability and the way we do business and most importantly what they need to do now to prepare for those opportunities.

“There is a global focus on sustainable and digital businesses and businesses need to be able to collaborate and partner to take up future opportunities.

“Now is the time for government, industry, business and community to come together to secure the best possible Olympics outcome for Queensland. This will take early thinking, big thinking and courageous thinking to ensure Queensland businesses are ahead of the game.”

The state minister for tourism, innovation, sport, as well as the minister assisting the premier on the Olympics, Stirling Hinchliffe, said the Olympics presented a huge economic opportunity for Queensland.

“From iconic visitor experiences to our credentials as a renewable energy superpower, Brisbane’s 2032 climate-positive Games will put all of Queensland on the global stage.”

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