A “new-type” of anchor

Over the past 20 years, economic growth in many countries has become increasingly uneven, driving a wedge of economic disparity between and within cities and metropolitan areas. Innovation districts are often physically adjacent to neighborhoods with low educational attainment, high levels of unemployment, and marginal levels of private investment. Their success—and that of their cities and regions—demands long-term and highly intentional strategies that combine advanced innovative development with inclusive growth.

Active work on-the-ground in innovation districts suggests that to address such disparities, districts demand new types of anchors. These anchors have a dedicated mission to advancing the educational and employment opportunities of local residents. They can own land in the district or be a major investor. Such anchors can also be an important service provider, driving the delivery of services and programs to strengthen education and employment opportunities of regional residents.

In the coming years, districts will be seeking these types of partners to actively shape and advance a district agenda. In an optimal governance structure, these types of anchors—such as community foundations, workforce development organizations, and highly capable community development corporations—would have a seat at the table with anchor institutions and other actors.