California Employment and the “Anchor Institution”
Fox & Hounds - almost 6 years
In January of this year, the Lawrence Berkeley National Laboratory (LBNL) announced that it had chosen the City of Richmond as the site for its second campus. It was a tremendous success for the City, which won over twenty competitors in the region, after a year- long competition.
The LBNL is projected to include more than two million square feet of research and office space, housing three main divisions: the Joint Bio Energy Institute, the Joint Genome Institute and the Life Sciences Division. Construction of Phase One of the new facilities begins in 2013, with operations starting in 2016.
It is not clear, though, how much the LBNL will impact Richmond’s unemployment (15.1% in December 2011) or how much LBNL will generate revenues for Richmond-based businesses. In workforce parlance, LBNL constitutes an “Anchor Institution”—a major institution, that is both large employer and large contractor for goods and services. The history in California and elsewhere indicates that anch...
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