This October, the Give Where You Live Foundation, in collaboration with our friends at The Difference Incubator (TDi), will undertake a Neighbourhood Economics Study Tour, to explore local economic development models in the UK and Spain.
The trip will bring key local stakeholders together to learn from some of the most successful Community Wealth Building initiatives and organisations. The group will visit 13 organisations in eight days including, the New Economics Foundation, Civic Square in Birmingham, the largest network of employee-owned co-operatives in the world, the Mondragon Corporation in Spain, and the unique local government led procurement initiative, The Preston Model in the UK. The group includes key local organisations, other funders, and not-for-profits, with our community partners from The Good Neighbourhood Project and Cloverdale Community Centre joining the trip.
The Foundation hopes the immersive experience will help the Foundation, and our partners, to better understand how different communities are tackling economic challenges and bring these learnings back to our region and achieve some significant economic transformations.
This trip follows another research trip undertaken by CEO Bill Mithen, during his sabbatical in April 2023, as part of his participation in the Social Impact Leadership Australia program. Many of the insights gained from that trip have informed the planning and focus of the upcoming trips itinerary.
The Foundation and TDi are deeply grateful to the Donkey Wheel Foundation and Coopers Investors for their generous support and financial contributions, which have made this trip possible. Their support demonstrates the importance of learning from and adapting successful models to address entrenched disadvantage and foster inclusive economic growth in our own communities.
About the Give Where You Live Foundation and Neighbourhood Economics:
The Give Where You Live Foundation know our current economic systems are not serving all people, or places, well. To create a fairer community, we are working on building and supporting systems that address the urgent needs of people where inequity is consigning them to lives of poverty and disadvantage.
In our community, there are some neighbourhoods where people are facing higher rates of unemployment and struggling with food and housing.
Our vision is for an economic future that is regenerative, that shares wealth and includes everyone.
Over recent years, the Give Where You Live Foundation and TDi have spent time thinking, piloting and developing initiatives, researching and observing localised economic development approaches.
Together Give Where You Live Foundation and TDi are working to help seed a new venture called Neighbourhood Economics.
Neighbourhood Economics is dedicated to reimagining local economies in areas where Australia’s success and prosperity haven’t been equally shared.
Neighbourhood Economics aims to shift towards locally-led, regenerative economies. It stands in stark contrast to traditional economic development, challenging the common top down approach that often prioritises attracting large corporations for job creation and economic growth without addressing local needs.
Instead, Neighbourhood Economics focuses on sustained community prosperity, by enabling more people to fully participate in their communities, with a focus on ownership, shared prosperity, and strong community connections.