The term “anchor” is typically applied to universities and hospitals, but municipal governments, community foundations, corporations, sports teams, and arts and cultural organizations can also behave as urban economic anchors. Anchor organizations play significant roles in their local economies due to purchasing power, real estate, employment, and a long-term interest in seeing their local communities thrive. Their history, relationships, institutional mission, and investments root them in their local communities. The sustainability of anchor organizations is inextricably linked to the vitality of their surrounding communities. It affects demand for their goods and services, employee attraction and retention, business operations and overall competitiveness. It is in an anchor’s interest, therefore, to build a strong, healthy local economy.
ICIC’s Anchor Institution Strategic Framework defines seven strategies anchors use to accelerate urban economic revitalization. Anchor organizations that intentionally engage these seven strategies will produce measurable returns for both the community and the organization.
ICIC is recognized as an authority on anchor institutions. Anchor institutions such as the University of Pennsylvania and the Cleveland Clinic have used our strategic anchor framework to guide their community engagement. Today, we continue to build on that work to support initiatives with multiple anchors that are poised to transform inner cities.
Below is a selected list of ICIC’s work on anchor institutions: