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Select Greater Philadelphia AT THE HEART OF GOOD BUSINESS GREATER PHILADELPHIA The Place to Establish and Grow Your Business Strategically located between New York City, the nation’s financial Greater Philadelphia hub and Washington, encompasses D.C., the an 11-county legislative and regulatory neighborhood across center of northern Delaware, the U.S. southern New Jersey, At the core of and southeastern the country’s Pennsylvania. wealthiest and most densely- The region is a thriving mega-market with all populated the must-haves for success: unparalleled global region access, a deep talent pool, an attractive cost of doing business, a huge market of customers, and an incredible quality of life. Boston New York Greater Philadelphia Washington, D.C. Photo courtesy of Jason Heritage and Ben Franklin Technology Partners of Southeastern PA 1st in millennial growth rate Welcome to lowest office rental 2nd rates among top metros opportunity. largest metro in the Right here, right now, Greater 3rd Northeast with $432 billion Philadelphia is exploding with new in Gross Regional Product energy, excitement, and prospects. Our region’s business climate is the 4th largest media market best it’s been in decades, and the outlook — fueled by collaboration, creativity, inclusion, investment, and largest population 5th innovation — is brighter than ever. with 6.3 million people We are experiencing a youth movement, with one of the fastest-growing millennial populations in the nation. largest workforce of just It’s driven by our ecosystem of 104 colleges and univer- over 3 million, including sities that are awarding close to 90,000 degrees every highly-skilled talent in key year. The graduates are staying and returning, attracted by our flourishing technology and innovation scene, our 6th industries: life sciences, diverse economy, and by a quality of life that is — in a energy and manufacturing, word — remarkable. technology, financial services, and more You can feel the energy, and see it too. Cranes dot the skylines from Camden, New Jersey to Philadelphia to Newark, Delaware. Major development projects representing over 3 million square feet of new office and mixed-used space and $10 billion in capital investments have been announced or are under construction. Our universities are collaborating with civic and community leaders to build innovation districts, our corporate leaders are investing in new headquarters, and our developers are transforming industrial sites that are ripe for reinvest- ment into vibrant spaces. This is the birthplace of democracy and invention. This is a place where ideas meet courage, where initiative is applauded and where the entrepreneurial spirit is strong and passionate. It’s a place that is so well positioned for companies to locate and grow their operations, it is not surprising that scores of startups are flocking here, and that major Fortune 1000 leaders from around the globe call Greater Philadelphia home. If you are looking for opportunity, Select Greater Philadelphia. William R. Sasso, Esq. Chair, Select Operating Committee Matthew P. Cabrey Executive Director Philadelphia has the fastest- growing millennial population among the nation’s 30 WORKFORCE largest cities. Highly educated, ready-made for tomorrow Greater Philadelphia has a massive, talented labor force — the 6th largest in the U.S. Our three million workers are highly educated, with 35 percent holding a bachelor’s degree or higher. There are more professional degrees awarded per resident in the region than anywhere in the nation. But it’s more than smarts that makes our talent so exceptional — it’s a spirit of cooperation, a passion for learning, creating and innovating, and a drive to get things done. Greater Philadelphia is home to 104 colleges and universities with half a million students. That’s the fourth largest university population among all U.S. metropolitan areas. Eager learners from around the world are earning 90,000 degrees annually from research, engineering, business, entrepreneurial, liberal arts, and technology programs that set the standard of excellence in higher education. Drawn by our vibrant quality of life, 64 percent of these students choose to stay here to establish and grow their career and their families. It’s no wonder Philadelphia has the fastest-growing millennial population among the nation’s 30 largest cities. Greater Philadelphia is home to 104 colleges and universities Right: The University of Pennsylvania - Photo courtesy of Paul Loftland for PHLCVB Opposite page: Haverford College Educational Attainment in the US and Greater Philadelphia World-class elementary Four of the top 20 colleges GRADUATE OR PROFESSIONAL DEGREE and high schools and universities in the U.S. 11% › Chester County’s Tredyffrin-Easttown › Haverford College 14% school district was named the best › Princeton University public school district in the nation BACHELOR’S DEGREE › Swarthmore College › U.S. News designated New Jersey’s 19% › University of Pennsylvania Haddonfield High School a Gold 20% Medal School Source: Forbes › The region has a high concentration of BACHELOR’S DEGREE OR HIGHER private schools including St. Andrew’s 30% School, #1 in New Castle County, Delaware 35% › 32 of the top 50 performing high schools in Pennsylvania, based on SAT scores, are located in the region, with Philadelphia’s University entrepreneurial US Greater PHL Region Masterman High ranking the #1 high programs & technology school in the commonwealth campuses Source: US Census Bureau American Community Survey 5-Year Estimates, 2015 › Drexel University Close School of Entrepreneurship and their Degrees Awarded at Colleges and Expressive and Creative Interaction Technologies (ExCITe) Center Universities in Greater Philadelphia › Rowan University’s South Jersey Professional schools abound Technology Park BUSINESS & LAW › 31 business schools › St. Joseph’s University Family 18,191 Business & Entrepreneurship program › 12 engineering schools/programs HEALTH SCIENCES › Temple University’s Fox School of Business’ › 7 medical schools 16,246 Innovation & Entrepreneurship Institute › 6 law schools › University of the Arts, Music Business, HUMANITIES › 3 pharmacy schools Entrepreneurship + Technology program 16,003 › 2 dental schools › University of Delaware’s STAR Campus STEM › 1 school of podiatry & JP Morgan Innovation Center › 1 school of ophthalmology › University of Pennsylvania’s 13,612 › 1 school of veterinary medicine Penn Center for Innovation SOCIAL & BEHAVORIAL SCIENCES 12,424 EDUCATION 7,852 OTHER 4,599 88,927 TOTAL DEGREES AWARDED Associate’s Bachelor’s Master’s Doctor’s Source: NCES IPEDS, 2014 – 15 Academic Year Fourth largest university population among all U.S. metropolitan areas. “Five reasons startups are setting up shop in Philadelphia? Cheap rent is just the beginning. (1) Fast- TECHNOLOGY AND growing companies ENTREPRENEURSHIP live here (2) A close-knit startup Inventing community (3) Economic incentives the Future for doing business (4) Location, location, Greater Philadelphia’s resurgent innovation ecosystem location and (5) An is an inclusive community where networks are created abundant talent pool and collaborations are forged. It’s where entrepreneurs of job candidates." who have achieved their dreams encourage others to follow theirs. It’s where business leaders, investors and private EXCERPTED FROM ARTICLE IN PHILADELPHIA MAGAZINE angel funds interact with startup owners and service BY SUCHIT BACHALLI, providers like never before. PRESIDENT OF UNILOG The pace is quickening. Between the years 2010 – 2015, venture funding for 150 IT and software companies and 100 biotech and medical services companies topped $1.2 billion. Startups are being launched at over 65 incubators, accelerators and co-working spaces. University programs for entrepreneurs at Delaware, Drexel, Penn, Rowan, Temple, and others for entrepreneurs are encouraging innovative thinking by their students who are choosing to stay here, making the millennial growth rate in Philadelphia higher than any of the nation’s 30 largest cities. We have the talent. We have the institutions. We have the investments. We also have the confidence, the acumen and creative thinking needed for new business ventures. Greater Philadelphia is now one of the most attractive regions in the world for entrepreneurs and investors looking to establish and grow a business. Industry leader Comcast is building its new $1.2 billion Technology and Innovation Center — expected to create 1,500 new tech jobs. Rendering of the Comcast Innovation and Technology Center - Rendering courtesy of Comcast Corporation. Opposite page: Rendering of Schuylkill Yards - Rendering courtesy of SHoP Architects PC and West 8 Greater Philadelphia’s 65 business incubators & accelerators are leading the way with novel initiatives, including: › University City Science Center is evolving from one of the first business incubators in the nation to a collaborative leader transforming University City. › DreamIt Health, fostering health tech startups, is creating a path to new life-saving technologies. › Camden CoLab, offering access to Camden’s best academic, business, and institutional resources. › Rutgers Camden Technology Campus for emerging early-stage companies INVESTING BILLIONS IN UNIVERSITY INNOVATION DISTRICTS is rejuvenating the Camden economy by drawing in new firms and creating Bringing together knowledge institutions with global industry leaders and startup companies, retailers, good jobs. and residents, university innovation districts are fostering
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