The council says it will use its "financial muscle" to ensure "all communities benefit from ongoing and future investment".

A new social value strategy from the local authority is set to be approved, which will focus on engaging businesses and delivering economic, community, and environmental benefits.

This will be done through the council's commissioned spend and wider business relationships, with an emphasis on supporting communities most in need.

Cllr Sandra Walmsley, cabinet member for communities and inclusion, said: "The council spends more than £100m a year through its contracts.

"Maximising the social value of this spend presents a great opportunity to bring about truly inclusive economic growth and support local businesses and communities to create a strong sense of place we can all be proud of."

Cllr Walmsley added that a key focus will be using social value to support their role as corporate parents.

An example of social value in action includes the work that business VINCI is doing at the Radcliffe Hub works. 

It provides an opportunity for young people aged 16 to 24 not in employment, education or training to learn new skills and gain a level 1 award in a construction trade.

Some 24 trainees are expected to be supported by January.

The council was also accredited as a Real Living Wage Employer in 2021, which has improved pay for an estimated 4,000 people and increased workforce stability.

The strategy is part of the council's LET'S vision, which aims to strengthen relationships with local businesses, increase social value contribution, and set minimum standards for the organisations they work with.

The report will be considered at the cabinet meeting on Wednesday, November 6.