Community wealth building is a systems approach to economic development that creates an inclusive, sustainable economy built on locally rooted and broadly held ownership. The aim is to create a new system that enables inclusive enterprises and communities to thrive and helps families increase economic security.
The cities profiled in this new Democracy Collaborative report show the way forward. Economic development professionals and mayors are working in partnership with foundations, anchor institutions, unions, community organizations, progressive business networks, workers, and community residents. What’ s emerging is a systems approach to creating an inclusive, sustainable economy where all can thrive. The work is place-based, fed by the power of anchor institutions, and built on locally rooted and broadly held ownership. It’ s about building community wealth.