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RPA’s work on the Fourth Regional Plan (“Fourth Plan”) for the New York, New Jersey and Connecticut metropolitan region began by looking at data and economic trends and by speaking with people from across the region. What it found was that, over the last generation, our region has seen sweeping change-much of it for the better. Job growth has accelerated, more people feel optimistic about the future, and the tri-state region remains one of the most economically vibrant places in the world. But our success is fragile; while the region’s economy has progressed as a whole, too many people have been left behind. More people in our region live in poverty today than a generation ago, and the middle class faces wage stagnation and a crisis of affordability. While poverty rates are still highest in our cities, they are growing fast in our suburbs.

The Fourth Plan outlines a series of recommendations to achieve greater equity, shared prosperity, better health and sustainability in our region. It has also spurred a civic dialogue that breaks through the short term and siloed thinking impeding the creative, cross-sector solutions needed to resolve complex challenges. Chief among these challenges is developing economic development strategies that feed a virtuous cycle of inclusive, equitable opportunity.

The Fourth Plan highlights the unique and powerful role that partnerships between “anchor institutions,” typically large nonprofit or public institutions such as hospitals and healthcare systems, colleges and universities, and place-based cultural institutions that are rooted in place by physical assets and historic ties and are unlikely to move to another location, and their local communities have in creating this virtuous cycle. This cycle strengthens those very institutions and the communities they serve. Leveraging the financial capital, human resources and economic output of anchor institutions affords an opportunity to address the structural challenges that perpetuate poverty and inequality across our region: access to jobs, quality housing and healthy neighborhoods. Promoting meaningful dialogue and stimulating collaboration will connect the people, knowledge, physical spaces and economic power of these partners to create strong communities and sustainable local ecosystems. Specifically, effective and enduring cross sector partnerships can produce the following benefits: ⊲ Local hiring and workforce development: Training and hiring local and diverse residents creates a reliable workforce for anchor institutions while building effective career ladders. ⊲ Inclusive, local purchasing: Directing purchasing by institutions toward local businesses strengthens local economies while attracting private investment. ⊲ Investment in quality housing: Initiatives to create quality, mixed income housing serve to stabilize neighborhoods where people at multiple income levels, including anchor employees, can live and work. ⊲ Coordinated capital investments: When anchors and municipalities coordinate their respective infrastructure planning efforts, they improve efficiencies and multiply their impact.

Acknowledgements

Authored by

Melissa Kaplan-Macey

Former Vice President, State Programs & Connecticut Director
Vincent Tufo

Charter Oak Communities, Chief Executive Officer
Pamela Koprowski

Cardinale Associates, Principal
Christopher Jones

Senior Research Fellow
Mandu Sen

Former Program Manager
Kate Slevin

Executive Vice President
Ben Oldenburg

Former Senior Graphic Designer