Glasgow City Region City Deal is one of the biggest projects that the council has ever been involved with, and the first in Scotland following several in English cities such as Liverpool and Newcastle.
Projects specific to Glasgow will see almost £400 million spent over the next decade that will not only create thousands of jobs before and after the construction period but also provide a platform to take the city onto the next economic level.
To illustrate the scale of the Glasgow City Region City Deal in Glasgow and the Clyde Valley, its infrastructure projects are around twice the size of those delivered for the Glasgow 2014 Commonwealth Games.
Glasgow will be transformed by the scale of the infrastructure regeneration work in the city centre - in Sighthill and the canal area; Collegelands; Calton and the Barras; the Clyde waterfront and the West End; and the Metropolitan Glasgow Strategic Drainage Partnership activities across the city.
In terms of funding, the UK and Scottish Governments will each give £500 million to Glasgow and the Clyde Valley in grant funding, and the eight local authorities will borrow a further £130 million. The seven other local authorities participating in the Glasgow City Region City Deal are East Dunbartonshire Council, East Renfrewshire Council, Inverclyde Council, East Renfrewshire Council, Inverclyde Council, North Lanarkshire Council, Renfrewshire Council, South Lanarkshire Council and West Dunbartonshire Council.
As well as the historic infrastructure programme, Glasgow City Region City Deal has two other key objectives - driving innovation and growth through the support of key sectors such as life sciences and new technology, and addressing challenges in the region's labour market.
The Glasgow City Region City Deal is indeed a big deal for Glasgow and the council and the key element is that the lives of a huge number of Glaswegians will be improved over the coming years.
The council will continue to award contracts directly to its partner organisations where allowed under the procurement rules and subject to evidence of best value.
The council will, where it applies, restrict participating in tendering to supported factories and businesses. This follows the EU procurement rules, and is in line with the council's Supported Factories and business Policy. This is generally described as Article19 procurement.
Our aim is to deliver sustainability through procurement by guaranteeing that value for money products and services are selected. We will also consider the social, ethical, environmental and economic impact throughout the procurement process.
We will improve access to public sector contracts, particularly for Small and Medium sized Enterprises (SMEs).