Community Wealth Building: Fostering Local Economic Resilience and Equity

Community Wealth Building (CWB) is a systemic approach to economic development that focuses on genuinely empowering local communities, particularly those that have been historically marginalized or economically disadvantaged. Unlike traditional economic development models that often prioritize attracting external corporations, CWB aims to retain and circulate wealth within a community by strengthening local ownership, increasing local employment, and building community assets.

This topic explores how various financial mechanisms and strategies, such as supporting worker cooperatives, establishing community land trusts for affordable housing, promoting local procurement by anchor institutions (like hospitals and universities), developing community development financial institutions (CDFIs), and fostering local supply chains, can lead to a more equitable distribution of wealth. The core idea is to create an economy that works for everyone, not just a few, leading to more stable, prosperous, and resilient communities where local residents have greater control over their economic future and a direct share in its benefits. It examines the financial models, policy frameworks, and practical initiatives that contribute to a locally rooted and broadly shared prosperity.