National Resource Network (lead author: Neil Kleiman; co-authors: Liza Getsinger, Nancy Pindus and Erika Poethig)

Year of publication: 2015

The report argues that, as large businesses leave American cities, a ‘grand bargain’ must be struck between cities and their anchor institutions, such as universities and hospitals. The authors contend that their relationship should focus not on specific transactions but on identifying shared interests, developing ambitious targets based on these, and then working together to achieve them.

Partnerships of this kind could provide a major benefit to cities – anchor institutions are often the largest employers, providing work in innovative, knowledge-focused sectors which can then help to attract further investment to cities. They also redevelop and revitalise large swathes of property, helping to regenerate city centres and economically-disadvantaged areas.

The report also highlights the benefits for anchor institutions. By supporting city authorities, they can promote infrastructure investment, cultural vibrancy and other factors that help to draw in highly-skilled employees. The report also highlights the benefits that many American anchor institutions enjoy, thanks to their exemption from property tax.

The authors conclude with a series of recommendations to encourage grand bargains, including identifying clear priorities, building on existing partnerships, making the most of governmental programmes, and putting in place a strong ‘ecosystem for collaboration’.

Content type: Anchor institutions

Tags: Policy document

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