Creating local funding, capital and investment solutions
Local councils, development agencies and communities from across Australia are being invited to
work together to create a locally-focused source of capital and a locally owned and led investment
vehicle to increase investment in local places and people.
Meaghan Burkett, Director at Ethical Fields, said “For too long local communities, business and
councils have relied on temporary and ad-hoc funding and missed out on making the most of their
own assets, investment opportunities and wealth creation.”
Ethical Fields is supporting local places and regions who want to move away from this hamster wheel
to something more inclusive, locally aligned, long-term and secure.
“Local people are eager to make a difference and invest in their region. There are strong
development and investment opportunities in their local area. However, to capitalise on these
opportunities, they require locally aligned capital. Beyond capital, they also desire more control and
influence over economic and development activity. They would like to ensure the benefits of this
activity flow back into the hands of local people and local businesses.” Ms. Burkett said.
In response, Ethical Fields have developed the Place Based Capital Program. The program brings
together a group of local places from across Australia to identify and design the capital and
investment structures they need to meet their local needs. The approach builds on the learnings and
challenges of others that have tried to establish local capital and investment vehicles alone, by
designing options that use collaboration and aggregation with other regions across Australia to
achieve economies of scale and access to larger forms of capital.
Ms. Burkett continued, “A system and vehicle like this would drive locally-led and owned
development, investment, and impact. It provides a mechanism for local people and organisations to
invest in their region and attract co-investment from outside the region. It will build local and
inclusive ownership, control, resilience and prosperity.”
City of Newcastle supports the program and has signed up to participate as the program
complements the City’s economic development strategy goals.
“The City of Newcastle’s economic development vision is to: Strengthen existing and create new
economic opportunities for all in the 2020s. This requires access to capital. There is enormous
economic potential in developing local sources of investment capital and resources to support local
business get started and grow. When money stays local it is an investment in the future of a place,
and its circulation delivers multiplier effects and added value in each transaction.”*
The program aims to commence in July and is now open for registrations. Local councils,
communities, development agencies, government, NGOs and other interested parties from across
Australia are invited to participate and/or partner in the program.
For more information visit: https://www.ethicalfields.com/
Meaghan Burkett, Director Community Wealth Building