Community wealth building underpins all GALE activities. Our local economy benefits from GALE activities to the tune of £340,000 per annum.
But just what is community wealth building? In short, it seeks to change the way our economy functions by retaining more wealth and opportunity for the benefit of local people.
Contrast with the predominant economic model, whereby wealth is created by property ownership. Regeneration is based on speculative property development and large companies extract wealth for the benefit of distant shareholders.
So does GALE have any impact on community wealth building? Well, yes.
Through employing locals and utilising the services from local producers and businesses, GALE keeps the money generated by our activities within our area. Over the next few months, we will delve a little deeper into that big number of £340K but for today it’s the headline number.
By employing 25 locals; utilising over 50 local producers and businesses; having the services of 17 community bakers; using the services of 9 charities or community groups, the wealth and opportunities created by GALE are kept for the benefit of local people.
By harnessing its economic and social power, GALE acts as an anchor institution to create wealth that stays local.