The LBP has two fundamental components:
The primary objective of the Local Buying Foundation, in both Qld and NSW, is to support and deliver economic and local/regional business programs which build capacity. The Foundation’s objectives and priority areas are reviewed to ensure they remain relevant to the economic environment and aligned with changing business community needs. The current priority areas of the Foundation (or program streams) have been identified as:
To ensure that both Qld and NSW Local Buying Foundation funding opportunities target genuine community needs, a Local Buying Foundation Advisory Committee (LBFAC) has been established for each foundation. The primary role of the LBFAC is to provide guidance and market/environment intelligence to inform, identify and support and the investment and disbursement of the Foundation's funds and to oversee effective governance of the Foundation. The LBFAC will ensure that approved projects, programs, and initiatives align with the Foundation's objectives, meet specified criteria and have the appropriate due diligence (supporting and enhancing regional economic and community development).
The LBFAC undertakes governance of the Foundations in both Qld and NSW with administration being undertaken by C-Res (Qld) Pty Ltd. In 2017, a dedicated Local Buying Foundation Projects Officer (LBFPO) role has been implemented in Qld to support the development of the Foundation.
The LBFAC is a representative body made up of key stakeholders from across the region with an interest or skills and expertise in regional economic development.
Current representation in Qld includes:
BHP - Peter Dowling (Co-Chair)
BHP - Kristy Marks (Co-Chair)
Central Highlands Development Corporation - Sandra Hobbs
Central Highlands Regional Council - Cr Paul Bell
Isaac Regional Council - Stewart Gow
Mackay Regional Council - Cr Ayril Paton
Moranbah Traders Association - Erica Fredericksen
Queensland Rural Regional and Remote Women's Network - Bronwyn Reid
CQUniversity - Blake Repine
Regional Development Australia Mackay-Isaac-Whitsunday Inc - Ben Wearmouth
GW3 Greater Whitsunday Alliance - Garry Scanlan
Qld LBF - Annual Summary - June 2016 (1909 KB)
Qld LBF - Annual Report - June 2015 (325 KB)
Qld LBF - Annual Report - June 2014 (657 KB)
LBF Project Funding Report 2012-2015 (4526 KB)
QLD - Central Highlands Development Corporation/Andrew SnowMore Info
QLD - Building Vibrant CommunitiesMore Info
QLD - Central Highlands Development CorporationMore Info