Journal Article

Anchors Aweigh: Why Do Anchor Institutions Matter?

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.?

Keywords: corporations; non profit institutions; community development;

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Cascade

Publication Date: 2012-10

Volume: 3

Order Number: 81