Economic Development
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WSJ: Pennsylvania Sees Influx of Trade Workers Since Pandemic As Many Gen Zers Choose This Over the College Path
More members of Gen Z are choosing to leave the college path and instead turning to skilled trades, writes Te-Ping Chen for The Wall Street Journal. According to Michael McGraw, executive director of the Pennsylvania Plumbing-Heating-Cooling Contractors Association, the trades in Pennsylvania have recorded a significant influx of workers since the pandemic. Among the reasons…
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Over the Last 10 Years, Philadelphia Region Sees Surge in Active Apprenticeships
A growing number of industries are offering apprenticeships, hoping to attract new talent by offering free education and long-term career options, writes Lizzy McLellan Ravitch for The Philadelphia Inquirer. Risk-mitigation firm Aon started its Philadelphia apprenticeship program three years ago, in the middle of the pandemic. But the risk paid off. Aon’s first Philadelphia trainees…
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Some Philly Companies Are Embracing A Four-Day Workweek
Sen. Bernie Sanders recently introduced a bill to reduce the standard U.S. workweek to 32 hours over four days as opposed to 40 hours over five days. While the idea is gaining some traction now due to Sanders’ proposal, some companies within pockets of the corporate world have already implemented the move, writes Lizzy McLellan…
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For Center City District CEO Prema Katari Gupta, Bringing More Commuters Back is the Main Goal
Prema Katari Gupta has been CEO of the Center City District for two months now and if she had to point to one major goal of her tenure, it’s to bring more commuters back to Center City, writes Kristen Mosbrucker-Garza for WHYY. Currently, about 100,000 people commute to Center City during an average workweek, with…
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WSJ: Shapiro’s PAyback Initiative Halves Permit Wait Times in Pennsylvania
Gov. Josh Shapiro launched a new policy last year aptly named PAyback to speed up the process of permit issuance in Pennsylvania, writes the Editorial Board for The Wall Street Journal. In his efforts to whip the state’s bureaucracy into shape, Shapiro ordered all state agencies to adopt a strict timeline for issuing permits. He…
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Grant Money Could Be On the Way To Hundreds of Philadelphia Small Businesses
As COVID-19 relief money runs out, hundreds of small business owners in Philadelphia could be getting some grant money, writes Kristen Mosbrucker-Garza for WHYY. Minority-owned businesses operating in lower-income communities will be prioritized to get grants between $2,500 and $10,000 each. The Historically Disadvantaged Business Assistance grant program, in partnership with the Pennsylvania Department of…
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Apprenticeship Program Offers Philly High School Grads Chance to Step Into Full-time Job, Earn Free Associate’s Degree
A two-year apprenticeship program is offering Philadelphia high school graduates the chance to step into a full-time job and earn a free associate’s degree, writes Kristen Mosbrucker-Garza for WHYY. For the third consecutive year, Aon, a global professional services firm that consults for the insurance, health care, and retirement industries, is looking to recruit youth…
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Gov. Josh Shapiro Proposes $25M Investment To Boost Small Businesses in Philadelphia
During a recent West Philadelphia visit to tout his “Main Street Matters” program, Governor Josh Shapiro proposed a $25 million investment to boost the region’s small business community, writes Dan Snyder and Ed Specht for CBS News Philadelphia. The name of the program is synonymous with its purpose. “Every community is linked with a Main…
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Philadelphia’s Growing Electric Vehicle Workforce Gets $1.47M Federal Grant
Philadelphia recently received a new $1.47 million federal grant that will be used to develop a workforce program that will train a new generation of workers in the electric vehicle industry, writes Nina Baratti for KYW Newsradio. Through the Plug in Philly initiative, workers will complete a pre-apprenticeship program that will help launch them into…
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United States Economy Adds 353,000 Jobs, Surpassing Expectations
The latest job report provided another proof that not only did the United States manage to avoid recession, it is adding new jobs in unexpectedly high numbers, writes Paul Wiseman for The Philadelphia Inquirer. The nation’s employers delivered a burst of hiring in January, adding 353,000 jobs to the economy. That surpassed the December gain…
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Average Debt Per Resident in Pennsylvania Lower Than National Average
Pennsylvania recorded an average debt per resident of $85,047 across mortgages, auto loans, student loans, credit cards, and other debts, which is significantly lower than the national average of $103,358, writes Liz Knueven for the Business Insider. The Keystone State’s average debt is the 16th lowest in the nation. The highest average belongs to Washington…
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Philadelphia Sees Biggest Jump in Economic Performance Ranking Among Metro Cities
Each year, California-based nonprofit think tank Milken Institute measures U.S. metro cities on their economic performance, and Philadelphia made the biggest jump from the most recent rankings, writes Jenna Martin and Ryan Mulligan for the Philadelphia Business Journal. Philadelphia jumped 130 spots from 182nd to 52nd on the list. According to Maggie Switek, senior director…
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2024 Economic Outlook: Are We Above Water?
By Dario Bellot, Chief Financial Officer, Harcum College With gas prices hovering around $3 per gallon, inflation in decline, and unemployment the lowest in decades, is an economy recovery a reality? Not necessarily. The stock market performed well in 2023. The S&P 500 gained 24 percent, the Dow Jones 14 percent, and the NASDAQ soared,…
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What is the Expected Economic Impact of Philly’s 2026 FIFA World Cup Games?
The official match schedule for the 2026 FIFA World Cup has been released. As a result, a second look is being taken to analyze the economic impact the games will have on Philadelphia, writes Justin Udo for KYW Newsradio. Lincoln Financial Field in South Philadelphia will host six FIFA World Cup matches in 2026, each…
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The Case For Raising Pennsylvania’s Minimum Wage, and How It Could Benefit Philadelphia Workers
The Keystone Research Center has released a new report that highlights the demographic impact of a higher minimum wage in Pennsylvania. While all six states bordering Pennsylvania have raised their minimum wage in recent years, Pennsylvania’s has been stagnant at $7.25 per hour since 2009. As a result, it has suppressed the earnings of more…
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Pennsylvania’s $4 Billion Forgotten Bounty: Could Some Be Yours?
Pennsylvania Treasury Department currently has over $4 billion in unclaimed property that includes dormant bank account funds, stocks, jewelry, and much more, writes Ashley Adams for The Keystone. Treasury Department data shows that one in ten Pennsylvanians is owed unclaimed property, with a typical claim amounting to approximately $1,600. With National Unclaimed Property Day –…
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More Companies Are Opting to Bring Employees Back to Office Five Days a Week
UPS recently informed its employees that it will require full-time office attendance, joining a small group of big companies that are pushing for five days in the office, writes Chip Cutter for The Wall Street Journal. Other major companies that already asked at least some segments of their workforce to return to the office full-time…
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Reimagined Coatesville: The Revitalization of Chester County’s Only City is Starting to Boom
The City of Coatesville, which has a rich history in steel fabrication, is on an upward swing, with businesses, restaurants, and retail shops flocking to the downtown area, writes Edwin Malet for County Lines Magazine. The Midway Arts Building has been home to over 30 businesses since its opening in 2019. The Made in Coatesville…
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