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Anchors Aweigh: Why Do Anchor Institutions Matter?

Author

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  • Prabal Chakrabarti

Abstract

In many cities, the expectation of civic leadership from a few large corporations headquartered downtown has ebbed. Instead, cities are looking to nonprofit anchor institutions, such as universities, hospitals, and museums, to support economic development and other goals. As Eugenie Birch, co-director of the Penn Institute for Urban Research and one of the panelists at a Reinventing Older Communities session on anchor institutions, put it, ?Universities are the factories of the 21st century.?

Suggested Citation

  • Prabal Chakrabarti, 2012. "Anchors Aweigh: Why Do Anchor Institutions Matter?," Cascade, Federal Reserve Bank of Philadelphia, vol. 3, October.
    • Handle: RePEc:fip:fedpca:0024
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