The Anchor Mission: Leveraging the Power of Anchor Institutions to Build Community Wealth
This report from The Democracy Collaborative and the Department of Urban Studies and Planning at MIT focuses on the path-breaking Vision 2010 Program implemented in Cleveland and Northeast Ohio by University Hospitals System. Over a five year period, the initiative targeted more than $1 billion of procurement locally to create jobs, empower minority- and female-owned businesses, and create a “new normal” for responsible, community-focused business practices in the region.
From the study's conclusion: "Vision 2010 is the story of what can occur locally when a place-based anchor institution—in this case, a very large, nonprofit hospital system—commits itself to conducting its business in a way that benefits its surrounding community and region. There is significant body of literature that illustrates the opportunities for expanding connections between corporations and community. This scholarship demonstrates that, beyond the narrow framework of corporate philanthropy, a comprehensive business approach can generate a competitive business advantage. The University Hospitals case study goes further, establishing the centrality of community wealth generation that is essential to realizing a broad vision of economic success."