Anchor Reliance in Regions

Abstract: In remarks at the Research and Practice 2024 Anchor Economy Conference, Philadelphia Fed President and CEO Patrick T. Harker offered an overview of the Philadelphia Fed’s “groundbreaking” Anchor Economy Initiative. The initiative aims to provide data on how hospitals and higher education institutions impact their local economies. Harker spoke about the data available in the Anchor Economy Dashboard, which for the first time, provides metrics on how dependent a given region is on anchor institutions. The dashboard and subsequent research, Harker said, are “powerful tools that stakeholders in each region can have at their disposal to put challenges in perspective and show a path for collaboration that can strengthen long-term economic prospects.”

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Speech

Publication Date: 2024-05-16