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The Role of Place Based Organizations in Cultivating Economic Development

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There have been abundant studies examining the role of place-based organizations and institutions, also known as anchors, and how they cultivate economic development and revitalization in their host community. Unfortunately, the research is often one-dimensional in that it is conditioned on observing and measuring the impact of higher education and academic medical institutions (Ed and Meds), on the local and regional economy (Capital Link, Dekker, 2011; Dekker, Paul, and Uslaner, 2001; Green, 2011; IEDC, 2010; Kramer, Jenkins, and Katz, 2007; Lichty, Wayne, McMillan, 1986). Impact studies are economic investigations through the use of IMPLAN, SASS SPSS or other statistical software that assist with creating “social accounts that describe the structure and function of a specific economy (MIG, 2012).” For example, the IMPLAN modeling system combines U.S. Bureau of Economic Analysis’ Input-Output Benchmarks with other data to construct quantitative models of trade flow relationships between businesses and final consumers. The model is a technique built around quantifying the interactions between industries or in this case sector within an economy. Every activity within the desired economy (health services, manufacturing, trade, etc.) is assigned to an economic division with the number of divisions determined by the level of detail desired. Once this has taken place, a transactions table is created to reflect the value of goods and services exchanged between those various

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