Local Development Leaders Believe Manufacturing, Life Sciences Gains Point Toward Growth Opportunities for Philadelphia Region

By

Centerless Grinding's president John Shegda shows Pennsylvania Governor Tom Wolf around the company's Hatboro manufacturing floor last year. While the Philadelphia region has been rattled by the pandemic, local economic development experts see growth opportunities ahead for the area.

While the Philadelphia region has been rattled by the pandemic, local economic development experts believe there are plenty of growth opportunities ahead for the area, writes Kennedy Rose for the Philadelphia Business Journal.

One of the unexpected outcomes of the pandemic was the resurrection of manufacturing in the Philadelphia region.

Many companies pivoted their manufacturing processes to produce hand sanitizer and personal protective equipment during the onset of the pandemic. The revival of manufacturing was also helped by the boom in the local life sciences industry.

This created an opportunity for people who lost their jobs in other fields to transition to manufacturing, said Dave Zellers, director of commerce for Montgomery County, during the Philadelphia Business Journal’s Economic Forecast virtual event last week.

While the transition from a retail or food service job might be jarring, the jobs are there, he added.

Logistics and development have also continued to take hold in the region, bringing in high-quality jobs.

Meanwhile, Chester County saw the number of new businesses double year-over-year in 2020. This represents a positive sign for economic development, said COO of the Chester County Economic Development Council Mike Grigalonis.

Read more about economic growth opportunities at the Philadelphia Business Journal by clicking here.

Stay Connected, Stay Informed

Subscribe for great stories in your community!

"*" indicates required fields

Hidden
MT Yes
This field is for validation purposes and should be left unchanged.
Advertisement