PRIORITY ISSUES > COMMUNITY WEALTH BUILDING
Localism done well.
Community Wealth Building puts people back at the centre of local economies by ensuring wealth generated in a local economy is held and invested back into that area, and puts control and benefits into the hands of local people.
Across Aotearoa, iwi, councils, the Crown and economic development agencies have been looking for new approaches. Community Wealth Building responds to the unique needs of local areas while contributing to a more sustainable, resilient and prosperous economic system overall.
By keeping wealth circulating locally, it helps prevent economic leakage and generates greater prosperity for current and future generations.
White paper launched
Community Wealth Building: An equitable approach to economic development for Aotearoa New Zealand,
co-created with The Urban Advisory.
This introductory guide provides cities, regions, individuals, and organisations with practical strategies to work together to apply the principles of Community Wealth Building.
Harnessing Spending and Local Supply Chains
The 5 Pillars of CWB
Prioritising Fair Employment
Investing Locally
Diversifying Ownership Models
Making Land and Assets Work for Locals and the Environment
Community Wealth Building in Action
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The Porirua Wealth Pool
Created by Te Hiko in Cannons Creek, Porirua, a group of people who live or work in this community came together to save their money collectively. The group experiences the power of having savings for emergencies, but also allows people to lend to each other within the community.
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The Southern Initiative (TSI)
in South Tamaki Makaurau works to champion and enable social innovation to deliver real socio-economic transformation. TSI acts as Anchor Institution supporting entities such as Amotai (connecting Māori and Pasifika-owned businesses with buyers), Uptempo (Pasifika-led fair employment workforce organisation) and Papatoetoe Food Hub (community-led circular enterprise).
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Otama Marere Trust
manages 45-hectares of land in the Bay of Plenty, communally owned by 632 people. The trust provides education and grants to the owners, organic farming and orchards spur economic development, and the fragile wetland ecosystems are protected through responsible use.
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Community ownership of Yackandandah’s only petrol company
When the only petrol station was announced it was going to shut in 2002, seven locals established the Yackandandah Community Development Company which then built and began operating as a petrol station in 2003. They have now expanded and are running a rural supplies hardware business and a local newspaper.
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The UK Preston Model
a collaboration between the Preston City Council and The Centre for Local Economic Strategies (CLES), reformed the city’s public procurement processes by harnessing the potential of public institutions to spend their money locally and socially.
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The US Cleveland Model
a collaboration between the Cleveland Foundation, the Ohio Employee Ownership Centre, the City of Cleveland, major hospitals and universities in the city, and the Democracy Collaborative, delivered a model of large scale worker-owned and community-benefiting businesses, creating green jobs and driving economic stability in nearby low-wealth communities.
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