Anchor Institutions Project launched in Birmingham
The Trust is delighted to share news on a new project in Birmingham which will see the City Council and Centre for Local Economic Strategies (CLES) working together to explore how ‘anchor’ institutions can use their spending power to increase economic opportunities for all of Birmingham’s communities, businesses and citizens.
Anchor institutions are large organisations, based in a particular location with significant spending power in the local economy. CLES has already worked with Belfast and Preston Councils to explore how changes in behavior around procurement and other processes could benefit local businesses and communities. The Birmingham partnership will build on this learning and seek, where possible, to feed the city’s experiences into a growing movement around local economic development at a local and national level.
