Preston Model
The Preston Model is an approach to community wealth building pioneered by Preston City Council, Lancashire, England. It is a form of municipal socialism which utilises anchor institutions, living wage expansion, community banking, public pension investment, worker ownership and municipal enterprise tied to a procurement strategy at the municipal level. It has in turn built on the experience of the Cleveland Model, developed in Cleveland, Ohio. Councillor Matt Brown, originally Executive Member for Social Justice, Inclusion and Policy, played a key role in developing the model with his colleague Councillor Martyn Rawlinson, working in conjunction with the Centre for Local Economic Strategies. The first issue they tackled in 2012-2013 was to localise their procurement spend in Preston and the surrounding county of Lancashire.
