Eds & Meds: Engaging Anchor Institutions to Stabilize and Catalyze Communities
Anchor institutions such as universities and hospitals are often the largest non-public employers in their cities. Beyond their respective core missions, they are vital to local economies, employing large workforces, occupying and managing large pieces of real estate, procuring vast quantities of goods and services, attract investment through capital projects and research activities, and spawning nearby development of food, retail, and other amenities.
Cities such as Philadelphia, Detroit, Cleveland – and more recently Memphis – have leveraged anchor strategies to transform their surrounding communities through local hiring, procurement, planning, and policy strategies. Alex Feldman, Vice President of U3Advisors, will provide an overview of the anchor strategies and lessons learned from successful efforts in other cities, and Tommy Pacello, President of the Memphis Medical District Collaborative, will offer a more detailed look into the Memphis efforts.
