Localising Prosperity is a LWM programme of activity based on making the most of local enterprise, existing business supply chains, networks, community assets and human potential. It has been funded by the Barrow Cadbury Trust over four stages.
The first stage, Mainstreaming Community Economic Development, produced groundbreaking research in 2012 into how a localising approach to economics can contribute to prosperity, social inclusion and local distinctiveness, and how this can be integrated into conventional economic development.
The second stage built on these findings by collaborating with partners in case study and practical work, and developing the excellent Localising Prosperity web resources (separate website). The third, two-year phase, ran from 2016-18, focused on taking this agenda forward in practice and policy, through Combined Authority engagement, collaborative activity around the Sandwell & West Birmingham Hospital Trust, local currency development (leading to the establishment of Credex mutual credit initiative) and various other initiatives.
We are now progressing the fourth stage of this work, with a focus on:
- Maximising local benefit from the proposed new Smethwick hospital via its involvement in the European funded collaborative project USE_IT!
- Enabling more of a voice for economic justice organisations in the Combined Authority agenda
- Influencing the regional devolution agenda beyond “growth” to “who benefits” making effective use of updated Localising Prosperity resources.
The last two have led to us being commissioned directly by the WM Combined Authority to produce a collaborative civil society response to their Inclusive Growth agenda.
A website has been created which gives detailed information on the approach with tools to support its implementation.
Contact firstname.lastname@example.org for more information about Localising Prosperity.