Economic Development
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What’s The Best Way To Keep College Graduates in Philadelphia? The Key is to Focus on Talent
The latest Campus Philly study is now out and is showing positive momentum as it pertains to the retention rate of college students in Philadelphia, but it will take a concerted effort to keep the momentum going, writes Jennifer Johnson Kebea for Billy Penn at WHYY. Campus Philly was founded in 2004 with the mission…
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Hilco Redevelopment Partners’ New Construction Could Bring Thousands of Jobs to Philadelphia
For well over 100 years, 34th and Hartranft Streets in South Philadelphia was the location of the East Coast’s biggest oil refinery, writes Inga Saffron for the Philadelphia Inquirer. It was the site of the Philadelphia Energy Solutions refinery. However, after a 2019 explosion and fire destroyed the refinery, the then-owner was forced to declare…
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Forbes: Small Businesses Have More Marketing Options Than Ever, This Is What They Are Focusing on For 2024
Small businesses, which used to rely primarily on print and traditional media advertisements and cold calling before the internet, today have more marketing options at their disposal than ever, writes John Hall for Forbes. According to a recent marketing survey by Taradel, the majority (94 percent) have plans to increase their marketing spending in 2024.…
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Shapiro Readies Comprehensive Plan to Boost Pennsylvania’s Business Growth and Retention
Gov. Josh Shapiro announced earlier this week his administration is preparing to unveil Pennsylvania’s economic development plan focusing on attracting and retaining businesses by year’s end, writes Paul J. Gough for the Philadelphia Business Journal. Shapiro said the plan will guide Pennsylvania’s business attraction and growth efforts and help the commonwealth compete against neighboring states.…
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Bloomberg: Philadelphia Ranks Among Top Work-from-Home Cities in United States
In 2022, remote work was interestingly still most common in neighborhoods close to the office, including in Philadelphia, writes Justin Fox for Bloomberg. According to the Census Bureau’s Public Use Microdata Area data, last year, Philadelphia ranked among the top 50 work-from-home areas in the country, with 34.9 percent of employed residents working primarily from…
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Millennials Swell Philly’s Educated Ranks – But Will Gen-Z’ers Follow Suit
Millennials were responsible for a significant increase in college-educated young people in Philadelphia, but the question is whether Gen Z will follow suit, writes Lizzy McLellan Ravitch for The Philadelphia Inquirer. At the start of the millennium, Philadelphia saw its population of college-educated young adults drop below 60,000, despite the dozens of colleges and universities…
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Four New Board Members Join City Ave District
City Ave District is pleased to announce the appointment of four new board members who will each support the organization’s mission of guiding the future of City Ave District to its highest potential. These new additions will join an existing board that represents both Philadelphia and Lower Merion municipalities, as well as elected officials and…
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New Saint Joseph’s University President Views Campus as Key to Vitality of City Ave District
On the heels of her recent inauguration as the 29th (and first woman) president of Saint Joseph’s University, Dr. Cheryl McConnell recently shared her thoughts on her new role and the important relationship between the campus and the City Ave District, where she is a board member. Organizationally, City Ave District unites businesses, property owners,…
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Center City Continues to Recover, Moves Closer to Pre-pandemic Numbers
According to a Center City District report “Building Back A More Diverse Downtown,” Center City continued to steadily recover in June and July, with key numbers moving closer to pre-pandemic levels. During that period, pedestrian volumes hit 92 percent of 2019 levels. The robust recovery was primarily driven by residents and visitors. The number of…
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Check Out Where Philadelphia Ranks in Income Inequality Among Pennsylvania’s 67 Counties
Philadelphia took the top spot in Pennsylvania among counties with the highest income inequality, writes Andrew DePietro for Forbes. Forbes used data from the Census Bureau’s 2021 American Community Survey 5-Year Estimates to determine the county with the highest income inequality for each state, as measured by the Gini index. The Gini coefficient measures the…
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Bloomberg: Billionaires Clash Over 76 Place, Proposed Chinatown Arena for Philadelphia 76ers
Recently, two squads of billionaires have been battling over 76 Place, the proposed future home of the 76ers in Philadelphia, writes Gerry Smith for Bloomberg. On one side, the team’s owners, Josh Harris, of Apollo Global Management, David Blitzer, a Blackstone Group executive, and real estate developer David Adelman, want to build a new home…
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Opinion: Business Leaders Need to Begin Thinking of Housing, Public Transportation, as Workforce Issues
Since assuming the position of President of the Chester County Chamber of Business and Industry (CCCBI) in 2022, I have had the opportunity to travel throughout Chester County and meet with Chamber members, other job creators, and community leaders to hear their input on items that impact their respective sectors. Whether in the hospitality industry,…
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Future of Sixers’ Arena Project Remains Uncertain Year After First Mentioned
Billionaire developer and co-owner of the Philadelphia 76ers David Adelman first proposed building a new arena for the team at Market East in July last year, writes Laura Swartz for the Philadelphia Magazine. A year later, the future of the $1.3 billion 76 Place is as unknown now as it was then. Adelman envisioned an…
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Philadelphia Leadership: Bryan Fenstermaker, President and CEO, City Ave District
President and CEO of City Ave District, Bryan Fenstermaker crisscrossed the country several times before landing in the Philadelphia area. He grew up in Houston and Connecticut in a tight-knit family with two siblings. He was drawn to the team mentality of sports and had a strong work ethic at a young age, getting his…
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See How Philadelphia Ranked Among Cities Where $250,000 Salary Goes Furthest
Philadelphia is in the bottom half among the 76 largest cities in the United States based on how far a $250,000 salary can actually go, write John Klyce and Lisa Dukart for the Philadelphia Business Journal. Earlier this year, SmartAsset, the financial technology company, ranked 76 of the largest cities in the U.S. to determine…
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Philadelphia Navy Yard to Become Home to New Frigate Land-Based Engineering Site
Construction is currently underway inside the building that was once a World War II aircraft factory at the Philadelphia Navy Yard on the engineering site that will teach future generations of U.S. Navy sailors how to operate the systems aboard the new Constellation-class frigate, writes Mallory Shelbourne for the USNI News. The Philadelphia Navy Yard…
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Greater Philadelphia’s Efforts to Retain College Talent Proving Fruitful
The Philadelphia region has significantly increased its retention of college talent in the last two decades, but there is still plenty of room for improvement, writes Sarah Huffman for the Pennsylvania Capital-Star. Philadelphia only retained around 25 percent of college students in the region in the early 2000s, when Campus Philly, the nonprofit focusing on…
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City Ave District to Detail Projects Spurring $300 Million of Development
The May 10, 2023, edition of the State of City Ave presentation by the City Ave District is an opportunity for residents and business leaders alike to hear firsthand about the initiatives the organization is undertaking to drive unprecedented growth within the residential and commercial development sectors. This year’s event will be especially compelling: There…
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