More than 180 community representatives have been invited to Grangemouth Town Hall this week (Friday 15 March) to discuss Community Wealth Building that aims to revitalise communities across Forth Valley.

 

They will join Minister for Community Wealth and Public Finance, Tom Arthur MSP who will talk about what is happening across Scotland and then hear first-hand from those involved about the work taking place that is helping to increase local investment. 

 

Also present will be the three Council Leaders.: Cllr Ellen Forson (Clackmannanshire Council), Cllr Cecil Meiklejohn (Falkirk Council) and Cllr Chris Kane (Stirling Council) who will join the Minster for a question and answer session on the day.

 

Community Wealth Building (CWB) represents a community-focused strategy for local economic development, redirecting wealth back into the local economy and placing control and benefits in the hands of residents. 

 

At its core, community wealth building involves collaborative efforts with communities and businesses to cultivate a robust local economy that promotes fair work, encourages local spending, and utilizes owned land and property for the common good. 

 

The approach leverages the influence of anchor institutions, including Councils, the NHS, and Universities/colleges, to support the local economy and retain wealth and investment locally.

 

During the morning, representatives will share knowledge as well as take part in workshops to understand how better to bring this work to local communities.

 

Cllr Cecil Meiklejohn, Leader of Falkirk Council explained: “Community Wealth Building will help ensure our communities can overcome the many barriers faced by local communities in a democratic and collaborative way.

 

“Using the combined resources that we have locally and across the region with our partners in Stirling and Clackmannanshire, we can maximise the impact on what we can all deliver to benefit our areas.”

 

Minister for Community Wealth and Public Finance Tom Arthur said: “The Scottish Government has embraced the Community Wealth Building approach to economic development as a key way to support a thriving wellbeing economy. 

 

“We have seen great progress in delivering the approach, with Local Authorities and other public bodies working in partnership with communities and businesses to transform their local and regional economies. As a result, Scotland is being recognised as a global leader in implementing Community Wealth Building.”