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The Value of Economic and Community Development Anchors

Author

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  • Andrew J. Van Leuven
  • Edward (Ned) Hill
  • Sarah A Low

Abstract

Economic developers and planners can use more than anchor tenants and place-bound anchor institutions to secure development, but not all anchors are equally durable. Place-bound, or place-rooted, anchor institutions are unlikely to relocate in response to changes in settlement patterns or business consolidations, providing a strong foundation for community development. However, anchor institutions are scarce. In contrast, most community development investments are tethered to more plentiful, but more ephemeral, anchors: anchor tenants, third places, and managed or naturally occurring third spaces. Ensuring that the right anchor is used on a particular water's bottom—the specific land use and geographic scale of a project's impact—requires understanding which anchor best secures a development or regional economy. A survey of agricultural extension agents revealed that the strength of an anchor comes from its community and economic VALUE: visibility, authenticity, loyalty, utility, and engagement.

Suggested Citation

  • Andrew J. Van Leuven & Edward (Ned) Hill & Sarah A Low, 2026. "The Value of Economic and Community Development Anchors," Economic Development Quarterly, , vol. 40(1), pages 114-122, February.
    • Handle: RePEc:sae:ecdequ:v:40:y:2026:i:1:p:114-122
    DOI: 10.1177/08912424251397353
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    References listed on IDEAS

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    1. Maxwell Hartt & Geoff DeVerteuil & Ruth Potts, 2023. "Age-Unfriendly by Design," Journal of the American Planning Association, Taylor & Francis Journals, vol. 89(1), pages 31-44, January.
    2. Michael Dougherty, 2025. "Fallows’ 11 signs a city will succeed and successful community and economic development activities," Community Development, Taylor & Francis Journals, vol. 56(3), pages 427-443, May.
    3. Andrew J. Van Leuven & Sarah A. Low & Edward (Ned) Hill, 2023. "What side of town? How proximity to critical survival factors affects rural business longevity," Growth and Change, Wiley Blackwell, vol. 54(2), pages 352-385, June.
    4. Edward (Ned) Hill, 2023. "What Is Economic Development? And What Is the Job of an Economic Development Professional?," Economic Development Quarterly, , vol. 37(1), pages 34-48, February.
    5. Mark Granovetter, 2005. "The Impact of Social Structure on Economic Outcomes," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 33-50, Winter.
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    Cited by:

    1. Edward (Ned) Hill & Andrew J. Van Leuven, 2026. "Wrestling with Markets in Economic and Community Development," Economic Development Quarterly, , vol. 40(1), pages 123-131, February.
    2. Edward (Ned) Hill & Andrew J. Van Leuven, 2026. "In this Special Issue: Complementary Practices—Community, Workforce, and Economic Development," Economic Development Quarterly, , vol. 40(1), pages 5-9, February.

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