Leveraging Anchor Institutions for Local Job Creation and Wealth Building
Type Policy Brief or Report
State(s) All States
Policy Areas Children & Families, Civil Rights, Democracy & Governance, Economic Justice, Education, Environment & Natural Resources, Health
Anchor institutions (often referred to as "eds and meds") are place-based enterprises, firmly rooted in their locales. In addition to universities and hospitals, anchors may include cultural institutions (such as museums), health care facilities (such as nursing homes), and municipal governments. Typically, anchors tend to be nonprofit corporations. Because they are rooted in place (unlike for-profit corporations that may relocate for a variety of reasons, such as lower labor costs, more subsidies, or fewer environmental regulations), anchors have, at least in principle, an economic self-interest in helping ensure that the communities in which they are based are safe, vibrant, and healthy.