A form of municipal socialism.
1 What is it?
Community wealth building utilises:
- anchor institutions
- living wage expansion
- community banking
- public pension investment
- worker ownership
- municipal enterprise tied to a procurement strategy at the municipal level.
a holistic framework for integrating community, cooperative, and public assets into a mutually supporting system of local economic prosperity
Anchor institutions are big part of it. For example, council, university, hospital, investing in the local area.
It is estimated that the Preston model has added £200 million to the city’s economy while significantly reducing unemployment.