A blueprint for a new local economic development

The function of local economic development needs to evolve. Understanding and working with the wealth of local anchor institutions is one way forward, says Matthew Jackson The Centre for Local Economic Strategies (CLES) recently published ‘Community Wealth Building through Anchor Institutions’. Reflecting on our work over four years, this publication is effectively the blueprint for any locality wishing to understand, realise and harness the potential of anchor institutions. Indeed, the concepts and principles presented should not be confined to anchor institution strategy, but are core components for any place wishing to progress the way it does local economic development. The function of local economic development needs to evolve. Long gone are the days of centrally-resourced special initiatives, orthodox economic development strategies, and a focus on inward investment as the core driver of growth. Instead, places need to think about the wealth already at their disposal and develop strategies with a … (To read more, subscribe below)

Matthew Jackson

Matthew Jackson is deputy chief executive at the Centre for Local Economic Strategies (CLES)

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