Region of Waterloo saves $24-million in construction costs

570 News

What is the proof that fair, open, and competitive contract bidding is good for the public purse and a more just way for cities to build up their infrastructure? Well, when Cardus crunched the numbers, we found that the Region of Waterloo saved at least 14 percent in municipal construction costs since removing restrictions that severely limited the number of bidders for construction contracts. That represents an estimated savings of $24-million from 2019 to 2021. And the average number of bidders per project jumped 50 percent too. Ray Pennings, Executive Vice-President of Cardus, explained it all to host Brian Bourke on 570 News in Kitchener, ON. (Starts at around the 87-minute, 37-second mark.) 

Topics: Cities, Work, Unions