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Preston Towns Fund City Investment Fund

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Preston Towns Fund City Investment Fund 1 Our City Preston is one of the UK’s More than just a city, Preston Committed to improving newest cities. We take is a vibrant and diverse the city and making its pride in our rich history and collection of characterful economy work for all our industrial heritage, and the places, spaces and people. communities, we are leading pioneers who have made Our residents value the the way in the UK with our a significant impact on a warmth and diversity of distinctive ‘Preston Model’, world stage. As the largest the city’s people, and its which harnesses the power city in Lancashire, Preston strength as a place with of our anchor institutions is firmly established as a city infrastructure and a and seeks to ensure many major centre for employment town feel. Compared to more of our residents benefit and services, playing vital Manchester and Liverpool, from economic growth. economic and social roles for Preston is a lower density, Community wealth building businesses and communities walkable and more liveable is an underpinning principle across the county, and a focal city offering a wide range of of our City Investment Plan point for the arts, culture opportunities. (CIP). and leisure. We are the urban heart of a £32 billion Lancashire economy, one of the Northern Powerhouse’s largest economies with the UK’s highest concentration of aerospace production in a cluster that is the 4th biggest globally, together with nationally significant capabilities in nuclear fuel production and clean energy generation. Figure 1.1 Location map 22 23 Our City Scale 1 1:25,000 @ A3 We want to maintain the momentum of change in Figure 1.3 Preston Town Deal Area our city, a Community City, putting the richness of life Population of 141,800, 70% living within reach by meeting the in the City Investment Plan area demands of 21st century life whilst safeguarding our cultural heritage and stories. 60%+ of Preston’s population is Our CIP is an ambitious aged under 44 strategy centred on our people and focused on sustainable and shared 73,000 working residents in 2019 prosperity which is shaped by our communities. At a time when the Covid-19 90,500 jobs in 2018 crisis is deeply affecting our residents and businesses, Preston contributed £3.7 billion our strategy will make a significant contribution to GVA to the UK economy in 2018 our recovery. 5,375 businesses in Preston, with 4,200 businesses in the CIP area Figure 1.2 Preston City Investment Plan Area 24 25 1 Preston’s story Preston’s is a long and advanced manufacturing The city has a rich From the mid-20th Century, by housing growth during our transport infrastructure, fascinating history. Our city’s and engineering have played architectural history with Preston became a city of the late 20th Century, the supporting new housing origins as a market town in the evolution of the city’s built heritage spanning growing diversity through continuing development development, predominantly (Priest Town) and service economy and that of the several different periods, immigration during the of the city’s business and in the outer areas, and the centre remain a feature of the surrounding Lancashire area contributing to a fabric of 1950s and 1960s, and in the service functions, and creation of new jobs across place it is today. The city’s which is still one of the UK’s buildings and streets which 2000s through migrants latterly with the expansion the area. Our CIP seeks to famous Guild, held every leaders in this sector. Rapid continue to be an attractive from central and eastern of the University of Central maximise the impact of 20 years, was established industrialisation and growth and living part of the heart Europe, as the European Lancashire (UCLan) which the City Deal by enabling in 1179 and continues to be cemented the city’s position of the city, with assets we Union expanded. Our has brought many more investment in the core of one of the region’s highest as a major service centre, are committed to protecting. residents recognise this is a young people, academics the city to complement and profile events. The city’s next with the financial, legal and City planning left a positive valued quality of Preston and and professionals to the further enhance the benefit Guild will be in 2032, which professional services that legacy of parks and green this diversity has become city. The city’s growth is of development in those is within the period of the 15 continue to meet the needs spaces across the urban area, a distinctive feature of the underpinned by the £430 outer areas. year CIP. of the wider area’s economy, linking the city centre to the city’s modern identity. million City Deal for Preston, and retail and leisure facilities River Ribble and providing South Ribble and Lancashire, Through the 19th Century, that responded to the city’s residents with high quality Preston has continued to signed by government in the city grew rapidly large and growing population open space within the grow, reinforcing its strength 2013, which is providing a as the textiles industry catchment area. modern urban area. as the area’s principal major investment boost in laid the foundations for commercial centre, fuelled the important part that 26 27 The City has been home to the Preston Guild first established in 1179. 1 Originally an organisation of traders, craftsmen and merchants, all with a monopoly trade in the town its has grown into a celebration of all the industries across the city. Preston’s is a long and fascinating Preston history. Our city’s origins as a market town (Priest Town) and service centre remain a feature of A Community City the place it is today. putting the richness of life within reach 28 29 1 Our City The Preston Model Since 2011, Preston has established itself nationally as a leader in local community wealth building. Known as the Preston Model, it has delivered a series of initiatives which challenge orthodox approaches to economic development and regeneration, seek to retain more of the wealth generated within the city to the benefit of local communities, and promote social and economic inclusion. The key measures and initiatives adopted or pursued by Preston City Council and its partners include: Real Living Wage: Harnessing Local Investing Through Public Building Cooperative Supporting Workplace Underlying all of Commitments by public Procurement: Changing Sector Assets: Investing Networks: Encouraging and Saving: Developing a sector organisations approaches to procurement in public sector land supporting the development Preston Credit Union to the activities that including Preston City by anchor institutions and assets working with of new cooperative networks, encourage workplace saving have contributed to Council to pay the real including Preston City partners through the City including the establishment by employees. Preston City community wealth living wage. Analysis by the Council, UCLan, Preston’s and Deal and including South of the first UK inner urban Council is also working with Centre for Local Economic Cardinal Newman Colleges, Ribble Council and Homes area Neighbourhood Council, the Hampshire Community building is the concept Strategies (CLES) shows that the Community Gateway England to secure additional with planning and other Bank, the Royal Society for of ‘good growth’. This 4,000 additional employees Housing Association and investment for the area, powers taken on by the the Arts and partners to is a much broader view in Preston were receiving the the Office of the Police and repurpose and develop Council and financial support promote the concept of a Real Living real living wage Crime Commissioner for buildings. Transferring the from the Big Lottery. Preston new regional bank founded of economic growth by 2018. Lancashire to retain more ownership and management Cooperative Development on community trust or that takes account expenditure within the city of key assets and providing Network and worker cooperative principles. of the wellbeing of and Lancashire. Analysis opportunities for the cooperatives, with a project by CLES found that from community ownership launched in December 2019 Securing Local Employment communities and 2012/13 to 2017/18, an of assets such as local to establish a pipeline of 10 and Training Through what matters to them additional £74 million had community centres. new worker cooperatives. Construction: Developing rather than focusing been retained in Preston and The City Council has worked a Supplementary Planning £200 million in Lancashire. with Coops UK to assist Document (Central only the expansion businesses with succession Lancashire Skills and of employment, planning and employee buy Employment SPD) which businesses and outs. specifies that developers of more than 30 homes and/ productivity. A Building Community or 1,000 sq m of commercial good growth index Capacity: Building capacity floorspace must have a skills in communities backed by a and employment plan that developed by PWC joint UCLan/Royal Society sets out how opportunities ranks Preston as the for the Arts (RSA) project to will be provided to highest of the North develop neighbourhood level Lancashire residents. activities. West’s cities and 12th nationally of 42 cities. 30 31 1 People and Our residents are proud of is the fundamental purpose Cabinet member for Preston and have strong of the Preston Model. We communities and social attachments to their city. must take our communities justice, said, “It’s been an Communities In our #WhatsYourPreston with us to build a collective extremely difficult time for us survey, a key pillar of our commitment to all we want all over the last three months Preston’s people are a major source stakeholder engagement to achieve.
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