Federal Reserve Bank of St. Louis - Your Fed, Your Voice: Rory Thomas

Why It Matters

The model shows how anchor institutions can coordinate to drive equitable neighborhood revitalization and workforce pathways, offering a replicable playbook for other cities in the Fed’s Eighth District. It also highlights how AI adoption in health care is reshaping operations and job training, with implications for local labor markets and service delivery.

Summary

The Memphis Medical District Collaborative, a nonprofit founded in 2016, coordinates major hospitals, colleges and philanthropic partners across a 400-acre medical district to reverse disinvestment and make the area safer, cleaner and more economically inclusive. Its membership includes St. Jude, Methodist Le Bonheur, Regional One Health and several colleges, collectively representing roughly 25,000 employees and 8,000 students. The collaborative uses annual surveys and community engagement to shape strategy, runs employer-driven programs like Hire Local to connect residents to living-wage careers, and helps hospitals adopt AI tools to boost efficiency and workforce development. Leaders say sustained cross-sector collaboration and attention to people and place are central to attracting investment while limiting displacement as the district grows.

Original Description

In this episode of Your Fed, Your Voice, Memphis Medical District Collaborative President and CEO Rory Thomas discusses the intersection of health and community investment and the role both play in the economy. Thomas shares insights from nearly 20 years of working in community and economic development, including a role with the St. Louis Fed’s Community Development Advisory Council (CDAC). Thomas tells Seema Sheth, regional executive of the St. Louis Fed’s Louisville Branch, that his time with CDAC was one of the best experiences of his career and continues to help inform his work. The collaborative’s focus includes leveraging data and community stories to drive impact and exploring AI adoption among district hospitals and institutions.

The Memphis Medical District Collaborative works to strengthen the connection between Memphis’ health care sector and broader community economic development, serving as a model for collaborative approaches across the region.

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