Biology of Business

Preston

TL;DR

Arkwright invented water frame here 1732. Peak 60 mills; cotton ended 1960s. City status 2002. 'Preston Model' of cooperative economics now studied internationally.

City in England

By Alex Denne

Preston invented the machine that made cotton spinning possible at industrial scale—then lived through the consequences. Richard Arkwright, born here in 1732, developed the water frame that transformed cotton production from cottage industry to factory system. His invention made Lancashire the workshop of the world.

By the 1850s, 80% of Preston's workforce depended on cotton mills. The first mill opened around 1770; John Horrocks built his Yellow Factory in 1791. At peak, 60 mills operated simultaneously. The Lancashire Cotton Famine of 1861-65, when the American Civil War cut off raw cotton supplies, devastated the town. Weavers who had earned 6 shillings per week saw wages fall to 2 shillings.

The decline was gradual, then complete. In 1927, 60 mills still operated; by the 1960s, cotton manufacturing had ceased entirely. Cheaper production in India and the rise of synthetic materials made Lancashire textiles uncompetitive.

Preston's modern identity pivots on two transformations. In 2002, Queen Elizabeth II granted city status—the 50th city so designated, recognizing Preston's historic contributions including the birth of the temperance movement here in 1832. More recently, the 'Preston Model' of community wealth building has drawn international attention: cooperative economics, local procurement, and anchor institutions reinvesting in the community.

By 2026, Preston offers a model for post-industrial reinvention: not attracting outside investment, but building from within the assets already present.

Key Facts

313,332
Population

Related Mechanisms for Preston

Related Organisms for Preston