Owenstown will create locally based jobs in an area of high unemployment and bring economic benefit to businesses in the surrounding areas. The not-for-profit project will be run by the residents via a co-operative society with surplus income being re-invested into the town’s community services.
A major financial asset for the Co-op follows the rise in the value of the land after its transfer from the Hometown Foundation. This is estimated at more than £300 million and will be endowed to the local community.