New group aims to grow community wealth

A new initiative is working to create greater economic fairness across York and North Yorkshire.

A Community Wealth Building Mayoral Commission, convened by David Skaith, mayor of York and North Yorkshire, has been launched, bringing together experts from community organisations, academia, trade unions and social enterprises. 

Meeting for the first time last week, the group began exploring ways to keep more regional wealth within local businesses and communities.

The commission will examine how the region could replicate successful models such as the Preston model, where nearly £500 million of local spend has been retained by prioritising procurement through local suppliers. 

It will also investigate opportunities for co-operative and worker-owned hubs, a public bus company, a regional bank and encouraging pension funds to invest in projects benefiting communities.

By focusing on local procurement and investment, officials say the initiative aims to ensure that councils, universities, NHS trusts and large businesses can help strengthen York and North Yorkshire’s economy while creating a fairer, more resilient community for residents.

Mayor Skaith said: “This isn’t about waiting for money to come our way, it’s about taking an active role in spreading power and opportunities for people in our cities, towns and villages.

“York and North Yorkshire has a strong economy but not everyone feels the benefits of that. 

“It’s time to change that, and this work is key to our plans.

“We have an opportunity to give more people a say on how their local economies work, and who they work for. 

“The cost of living crisis hasn’t gone away, building strong local economies, and giving people the tools to be at the heart of decision making has made a real difference in places like Preston, and now it’s York and North Yorkshire’s turn to build fair, healthy and thriving communities.”

The commission brings together a diverse group of experts and community leaders, with support from City of York Council and North Yorkshire Council. 

Members include:

• Sam Leach, chair and development director at Spark CIC and member of the York and North Yorkshire Business Board
• Jane Colthup, chief executive of Community First Yorkshire and member of the York and North Yorkshire Business Board
• Victoria Hughes, programme lead (emerging futures) at Joseph Rowntree Foundation
• Kate Pickett, professor of epidemiology at University of York
• Martin O’Neill, professor of political philosophy at University of York
• Dr Owen Powell, lecturer in human resources at York St John University
• Councillor Matthew Brown, leader of Preston City Council
• Helen Flynn, chief executive of Nidderdale Plus Partnership
• Emma Garner, Communication Workers’ Union

Sam added: “I’m grateful for the opportunity to chair the Community Wealth Building Commission and to support David Skaith’s bold ambitions for York and North Yorkshire. 

“Together, we have a real chance to transform lives and ensure wealth benefits all our communities.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →