Community Wealth Building (CWB) partnerships in Larne and the
North West are each to receive £150,000 to pilot community-led
economic and social development initiatives.
Funded jointly by the Department for the Economy (DfE) and the
Department for Communities (DfC), the pilots reflect a shared
commitment to empowering local communities and fostering
inclusive economic growth.
Economy Minister Dr said: “Community
Wealth Building empowers local people to benefit from
locally-owned assets. It's a model that I'm keen to support given
its potential to create a more regionally balanced economy in
which everyone shares in growing prosperity.
“These pilots in Derry and Larne will help us to test and
refine this inclusive approach to economic development.”
Communities Minister said: “I am proud to
support the Community Wealth Building Partnerships in Larne and
the North West. These areas have shown how strong local
leadership can turn a concept like Community Wealth Building into
practical action which can help tackle poverty and improve social
outcomes for our citizens.
“As Communities Minister, I know that real change comes
from the ground up and, importantly, this funding will help
deliver targeted initiatives shaped by the needs and ambitions of
local people. I look forward to seeing these projects evolve and
deliver lasting impact in their communities.”
The two pilots areas will each receive funding of £150,000 to
support Community Wealth Building initiatives in the areas of the
North West and Larne. The pilots will explore innovative,
place-based approaches to economic development, focusing on
building local capacity, strengthening community assets, and
ensuring that wealth generated within communities is retained and
reinvested locally. The partnerships will announce more
details on their plans in the coming weeks.
Notes to editors:
- Community Wealth Building (CWB) is a new people-centred
approach to local economic development, which redirects wealth
back into the local economy.
- The NW pilot brings together Development Trusts NI, Trademark
Belfast, and Enterprise North West to promote community wealth
building. Trademark will focus on worker buyouts for business
succession and economic resilience, while Enterprise North West
will connect stakeholders and highlight the benefits of CWB. They
are also working to improve social value in procurement and help
social enterprises access credit union finance.
- LEDCOM will coordinate the Larne CWB partnership pilot by
uniting stakeholders to manage over £50M in economic development
projects. Plans include creating a Life Sciences Cluster,
developing the business case for the “Willowbank 2” innovation
hub, and collaborating with the Port of Larne on logistics
upgrades and port decarbonisation.
