Penn Institute for Urban Research

Overview

Anchor institutions are economic engines for cities and regions, acting as real estate developers, employers, purchasers of goods, magnets for complementary businesses, community-builders, and developers of human capital.  The placed-based nature of anchor institutions, such as universities, hospitals and cultural centers makes them important players in city building.  Anchor institutions can transform a local economic base, creating industry-based clusters which multiply their economic impact many times over. Strengthening these institutions is important to ensuring successful urban revitalization strategies.