Our economy is failing to work for everyone and many people and places are struggling, but there is a solution…
Local wealth building is a new people-centred approach to local economic development. It reorganises local economies to be fairer. It stops wealth flowing out of our communities, towns and cities (into the pockets of distant shareholders) and instead, places control of this wealth into the hands of local people and organisations (the ones who created it).
WATCH: This animation explains Local Wealth Building in a nutshell…
Local wealth building is already benefitting local places and people like you.
Over 100 places
worked with in the UK
Over £70 million
redirected into Preston’s economy
Over 5000 new jobs
created in Manchester
You may have seen the headlines heralding the success of the Preston Model or spotted the establishment of Labour’s Community Wealth Building Unit. These are just some examples of how local wealth building (as a concept and a practice) is achieving real results and beginning to rival failing neoliberal approaches to local economic development.
To enable more people to transform and take back control of their local economies,
CLES has established the Local Wealth Building Centre for Excellence.
Across the UK, the local wealth building movement is gaining momentum. People like you, from local government, community and voluntary groups, the health sector, universities and many other organisations, are all playing a role.
The Centre for Excellence aims to support this growing network of local wealth builders so that many more people can benefit.