Preston has developed an economic model based around the importance of procurement. It says on its website:

What is the Preston Model

The “Preston Model” is a term applied to how the council, its anchor institutions and other partners are implementing the principles of Community Wealth Building within Preston and the wider Lancashire area.

So this isn’t just Preston City Council?

No. The city council is committed to implementing this approach and, as the “place leader” for the city is promoting the concept to other anchor institutions in and around Preston and to the private sector.

The implementation is something which is being shared across a range of Preston based anchor institutions, including

• Lancashire County Council
• University of Central Lancashire
• Preston’s College
• Cardinal Newman College
• Community Gateway Housing Association
• Lancashire Constabulary.

This is important as many of these institutions have significantly greater spending power and assets than the City Council and by working together we can have a significantly greater impact on the future well-being of the city.