Boosting Chicagos Economy through the Chicago First Procurement Ordina

In an effort to strengthen the economy of Chicago, Mayor Rahm Emanuel introduced the â€Å"Chicago first† procurement ordinance, to the city council. The ordinance was presented to the council on Jan 18, 2012. The ordinance is being co-sponsored by 27th Ward Alderman Walter Burnett. (www.mayorsandcities.com)Therefore looking at this from the beginning what is Procurement. Procurement is a contract agreement in which a buyer agrees to acquire goods or services from a seller in exchange for consideration for future business contracts. An ordinance is a law typically at the city level. The â€Å"Chicago First† ordinance will create a public-private partnership between the city of Chicago and local businesses. The ordinance will not do this through direct funding to a particular business, but to serve as helping with development of business in the local community. â€Å"City Hall should not be a barrier to Chicago’s local businesses’ growth and ability to succeed in this economy. When Chicago companies get business in Chicago – they stay in Chicago, and so do the jobs they provide,† said Mayor Emanuel. (chicagotribune.com) The â€Å"Chicago First† ordinance will provide local manufacturing and service industry benefits on contracts. (mayorsandcities.com) The new law will do this by giving local companies an edge over out-of-town organizations when there are similar bids. (http://www.mayorsandcities.com) "If everything else is equal, it is in the best interests of Chicago taxpayers to award a contract to a local company that has chosen to run it business here, employ Chicagoans and contribute tax revenue to the city.† Said Emanuel (chicagotribune.com) In other words the new law will help business and taxpayers of the city. The reason behind the Mayor... ... do this is through giving business more of an incentive to be here. Doing this will create jobs, which in turn will create more revenue for the city. The ordinance has support from the business community and will probably receive support from the public. This is a good decision by the Mayor to pursue, because the ordinance will help reinvest in Chicago and its citizens. The legislation promises to be transparent when or if implementation of this law occurs. Works Cited http://www.sacbee.com/2012/01/18/4197091/chicagoland-chamber-applauds-mayor.html http://articles.chicagotribune.com/2012-01-18/business/chi-emanuel-backs-chicagofirst-bidding-preference-for-local-companies-20120118_1_bidding-preference-chicago-awards-contracts) http://www.mayorsandcities.com/usa-canada/new-policies-would-reward-local-businesses-for-operating-and-providing-jobs-in-chicago