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The Preston Model

Town Hall and Harris close up

The Preston Model is about creating a resilient and inclusive economy for the benefit of the local area and its people.

Also known as Community Wealth Building, the Preston Model is centred around tackling inequality in economic development. The model does this by taking a collaborative approach to building locally controlled economies, which put communities first. It does this by reducing the amount of wealth flowing out of the local economy, so that it can be shared more widely and recirculated for the benefit of local residents and businesses.

Ancher institutions and delivery 

This Community Wealth Building approach is being implemented by Preston City Council and the following anchor institutions:

To find out more about the principles of Community Wealth Building and how this approach is being implemented by Preston City Council and other anchor institutions visit Preston City Council - what is community wealth building.

How Community Wealth Building is boosting the local economy

Recent spending analysis found the procurement from institutions in Preston retained in the city was £112m, £74m more than 2012/13.

In addition, since the start of the project, an additional 4,000 employees in Preston are now receiving the Real Living Wage. Community Wealth Building ensures that the benefits of local growth are shared across local communities and used to support investment in productive economic activities.

For more information on the Real Living Wage and how to become a living wage employer visit Preston City Council - Preston Real Living Wage.

Community Wealth Building 2.0: Leading Resilience and Recovery in Preston Strategy

Preston City Council launched its Community Wealth Building 2.0: Leading Resilience and Recovery in Preston in February 2021, which sets the direction of travel for the upcoming years.

View the Icon for pdf Community Wealth Building 2.0: Leading Resilience and Recovery in Preston Strategy [2.08MB].

How to get involved 

As the 'place leader' for the city, Preston City Council is promoting the concept to other anchor institutions in and around Preston and to the private sector. If you are interested about getting involved or would like to find out more, please contact:

What is Community Wealth Building video

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