Preston, UK

In Preston, England a Community Wealth Building strategy was deployed after a revitalization plan with an international development firm failed in the wake of the 2008 financial crisis. The city started with a progressive procurement strategy and expanded to integrate strategies within in all pillars with in the wedge to redirect wealth and reshape the economy. Preston has seen £70 million of anchor institution spend returned to the community and 4,500 jobs created.

Once listed as one of the most deprived urban areas in England, Preston rated as PricewaterhouseCooper (PwC)’s most improved city in 2018 and 2019 and the “Best Place To Live” in the north of England. Other municipalities across the United Kingdom have taken note, working to replicate Preston’s strategy and tactics.