Episode Details

How does an economy emerge from a recession? Historically, cities hard hit by deindustrialization have strived to attract big employers from elsewhere by offering incentives and tax breaks. But outside employers rarely invest in a place long term, and all too often skip town when the incentives run out. In some places, local governments have been experimenting with other strategies. In Preston, England, they’re experimenting with investing public money in locally-owned businesses and cooperatives, and encouraging local “anchor” institutions to buy from, or train, local vendors. They’re calling it the Preston model of community wealth building, and it’s inspired by a model in another formerly industrialized city: Cleveland, Ohio, home of the Evergreen Cooperatives. In 2018, Laura went to Preston to find out more.

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