Anchor institutions—a term used to describe public and nonprofit hospitals and universities—are today widely recognized for their role in community economic development. But they have the potential to do a lot more.
As Living Cities President Ben Hecht noted in a blog post this past January, “Today, the largest economic force in a huge number of America’s 100 largest cities is a university or hospital.” Yet, Hecht added: “Despite this reality, few, if any, regional economic development strategies are built around these stable and rooted ‘anchor’ institutions.”Read more about Unlocking Community Development: The Anchor Key...
Co-published by two research centers of the University of California, Berkeley, this paper from the Democracy Collaborative explores the impact of anchor institutions on wealth building and job creation in low-income communities.
Authored by Rita Axelroth Hodges and Steve Dubb as part of Michigan State University Press' series on Transformations in Higher Education, the book features ten in-depth cases and examines how universities, by pursuing an anchor institution mission to improve surrounding communities in cooperation with community partners, can positively impact the welfare of low-income residents.