Committee notes progress of Community Wealth Building Strategy

14th February 2025

Members of the Economy and Infrastructure Committee have had the opportunity to be updated on progress being made for the Community Wealth Building action plan when they met on Thursday 13 February 2025. They have given their backing to a stand-alone Highland Social Value Charter update report coming to their May 2025 committee.

Last year public opinion was sought during a 12 week on a draft strategy previously approved by Councillors in March 2024. Feedback from this engagement has informed a revised version of the strategy and action plan which sets out a 3-year vision for taking forward and embedding the Council's approach to Community Wealth Building.

Chair of Highland Council's Economy and Infrastructure Committee, Cllr Ken Gowans, said: "Our Community Wealth Building Strategy provides an alternative approach to economic development and a practical response that aims to keep wealth within a local area. Often described as a ‘people-centred approach to economic development’ it is about ensuring every area and community can participate in, and benefit from, economic activity. "

The Council will deliver its vision through five key objectives that align with five pillars of community wealth building. These objectives are headed as: ‘Spending’, ‘Fair Employment’, ‘Land and Property’, ‘Financial Power’, and ‘Inclusive Ownership’.