Community wealth building

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Community wealth building is a term which covers a range of approaches which "...aim at improving the ability of communities and individuals to increase asset ownership, anchor jobs locally by broadening ownership over capital, help achieve key environmental goals, expand the provision of public services and ensure local economic stability”.[1] The original model, the Cleveland Model, was developed in Cleveland, United States, however the Cleveland Model has also been developed and applied with the creation of the "Preston Model", in Preston, Lancashire.[2][3] It is a form of municipal socialism which utilises anchor institutions, living wage expansion, community banking, public pension investment, worker ownership and municipal enterprise tied to a procurement strategy at the municipal level.[3][4][5]

Preston model[edit]

The Preston Model is an approach to community wealth building pioneered by Preston City Council, Lancashire, England.[3] It is a form of municipal socialism which utilises anchor institutions, living wage expansion, community banking, public pension investment, worker ownership and municipal enterprise tied to a procurement strategy at the municipal level.[3] It has in turn built on the experience of the Cleveland Model, developed in Cleveland, Ohio.[5] Councillor Matt Brown, originally Executive Member for Social Justice, Inclusion and Policy, played a key role in developing the model with his colleague Councillor Martyn Rawlinson, working in conjunction with the Centre for Local Economic Strategies. The first issue they tackled in 2012-2013 was to localise their procurement spend in Preston and the surrounding county of Lancashire.[4]

See also[edit]

References[edit]

  1. ^ Peck, Jules. "Putting Banking Back in the Hands of thePpeople - RSA". www.thersa.org. Royal Society of Arts. Retrieved 15 July 2019. CS1 maint: discouraged parameter (link)
  2. ^ Schaefer, Lisa. "The Preston Model of Community Wealth Building in the UK". Centre for Public Impact. Centre for Public Impact. Retrieved 15 July 2019. CS1 maint: discouraged parameter (link)
  3. ^ a b c d Hanna, Thomas M.; Bilsborough, Joe; Guinan, Joe (2018). "The 'Preston Model' and the modern politics of municipal socialism". openDemocracy (12 June 2018). Retrieved 28 June 2019. CS1 maint: discouraged parameter (link)
  4. ^ a b Hopkins, Rob (16 June 2015). "The inspiring tale of the re imagining of Preston's economy". Transition Network. Transition Network. Retrieved 14 July 2019. CS1 maint: discouraged parameter (link)
  5. ^ a b Sheffield, Hazel (2017). "The Preston model: UK takes lessons in recovery from rust-belt Cleveland" (11 April 2017). The Guardian. Retrieved 28 June 2019. CS1 maint: discouraged parameter (link)

External links[edit]