Episode: 008: Anchor Institutions and Community Wealth Building: Ted Howard, The Democracy Collaborative


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008: Anchor Institutions and Community Wealth Building: Ted Howard, The Democracy Collaborative

On this episode of Equitable Opportunity radio, host Mike Hancox and co-host Vernice Miller Travis interview Ted Howard, the Co-founder and Executive Director of The Democracy Collaborative at the University of Maryland. Ted explains the role anchor institutions and worker collaboratives play in building a more inclusive economy. Anchor institutions are large, placed-based, nonprofit organizations that tend not to relocate. Anchor institutions can have a major impact on local economies and tend to be major employers. According to community-wealth.org, “If the economic power of these anchor institutions were more effectively harnessed, they could contribute greatly to community wealth building. The largest and most numerous of such nonprofit anchors are universities and non-profit hospitals (often called "eds and meds").” In Cleveland, The Democracy Collaborative has worked with anchor institutions like The Cleveland Clinic to create the Evergreen Cooperatives. The Evergreen Cooperatives seek to create community wealth and thriving businesses by giving workers an ownership stake in the businesses that they are creating. The three existing Evergreen Cooperatives focus on local food production, solar energy retrofits, and laundry services. Tune in to learn about the impact this work has had in Cleveland and what the future of community wealth building might look like.

Topic: Anchor Institutions and Community Wealth Building

Guest: Ted Howard is the co-founder and Executive Director of The Democracy Collaborative at the University of Maryland. In July 2010, Mr. Howard was appointed the Steven Minter Senior Fellow for Social Justice at The Cleveland Foundation where he was a member of a team that developed the comprehensive job creation and wealth building strategy, which resulted in the Evergreen Cooperatives Initiative.  

Full Bio - http://democracycollaborative.org/content/ted-howard

Organization: The Democracy Collaborative is a national leader in equitable, inclusive and sustainable development through their Community Wealth Building Initiative. This initiative sustains a wide range of Advisory, Research and Field Building activities designed to transform the practice of community/economic development in the United States.

Website - http://democracycollaborative.org

Facebook - https://www.facebook.com/democracycollaborative

Twitter - https://twitter.com/democracycollab

Take Away Quotes:

“Rooting wealth in communities is the future of economic development in America”

“Ownership and control of capital is a key determinant of power in any economic system”

“There are 50 million or more people living in poverty in the US.”

“For profit with a social mission and a broadly shared ownership structure – that is what community wealth building is about.”

“A job alone is not enough…how do you create assets in addition to income.”

Additional Resources:

Evergreen Cooperatives - http://evergreencooperatives.com

The Cleveland Foundation - http://www.clevelandfoundation.org

The Cleveland Clinic - http://my.clevelandclinic.org

 

 

For more information about Equitable Opportunity Radio and to join the conversation, visit our webiste, Equitable Opportunity Summit at eosummit.com



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