Economic Development
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KMM Group Holds Grand Opening for Its New State-of-Art Facility in Hatboro
U.S. Congressman Brian Fitzpatrick visited Hatboro last week for the grand opening and unveiling of KMM Group’s new state-of-the-art facility in the borough, writes Dino Ciliberti for the Patch. The 100,000-square-foot facility features over 150 milling, turning, grinding, and EDM machines, along with an ISO Class 8 Clean Room. There are over 150 craftspeople, engineers,…
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Prospective Philadelphia Area Homebuyers Continue Facing Uphill Battle Looking for Home
Burdened with high prices and mortgage rates, prospective homebuyers are continuing to face an uphill battle finding a home in the local housing market, write Aaron Moselle and Kenny Cooper for the WHYY. Over the last year, affording a typical home in the Philadelphia suburbs has become even more daunting. The median sale price of…
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Montgomery County Brings on Board Engineering Firm NV5, Nonprofit ACLAMO for Norristown Trailheads Project
Montgomery County and its project partners engineering firm NV5 and nonprofit ACLAMO are working to transform two trailheads in Norristown, writes Emily Neil for the WHYY. The need to increase access to the county’s trails was emphasized in a 2020 study on trail access, diversity, and awareness. The sites that were highlighted in the study…
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Philly Sees Decrease in Poverty and Violent Crime, But Challenges Remain, According to Pew Report
Pew Charitable Trusts has released its 2024 State of the City report outlining Philadelphia’s challenges and progress. While Philadelphia has seen tangible improvements in its poverty rate and violent crime statistics, challenges like the opioid epidemic remain a massive hurdle, writes Kenny Cooper for WHYY. “In 2023, the city’s unemployment rate was 4.2% on average,…
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Leonardo Helicopters US Showcases Philadelphia’s Appeal in New Momentum Makers Series
The Chamber of Commerce for Greater Philadelphia is making significant strides in attracting and expanding companies within the region, showcasing its impact on the local and global business landscape. Through a comprehensive regional marketing strategy, the chamber’s Economic Competitiveness team has been pivotal in promoting Greater Philadelphia as a premier global destination for business. This…
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How Philadelphia is Working To Change the Narrative of the City For Outsiders
Now that Philadelphia has a new mayor and new public safety officials and things are improving, the city is hoping to change the negative narrative of the city for outsiders, writes Victor Fiorillo for the Philadelphia Magazine. Philadelphia has been dealing with a gun crisis for years, with things becoming significantly worse during the pandemic.…
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Citizens Financial Group CEO Sees Great Upside For Philadelphia Economy, Eyes More Opportunities
Bruce Van Saun, CEO of Citizens Financial Group, sees a lot of upside for Philadelphia and its economy, and much of it is connected to its naming rights deal with the Philadelphia Phillies, writes Jeff Blumenthal for the Philadelphia Business Journal. This year marks the 21st year of a 25-year, $95 million naming rights agreement…
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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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Montgomery County Ranks Among the Highest Earning Counties in Pennsylvania
Montgomery County has ranked among the top five highest-earning counties in The Keystone State, according to Stacker. Stacker compiled data from the U.S. Census Bureau and ranked the counties based on a 2020 5-year estimate of the median household income. Montgomery County ranked as the second highest-earning in Pennsylvania with a median income of $93,518.…
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Montgomery County Among Top Five Counties for Economic Mobility Opportunities in PA
Montgomery County ranked among the top five counties in Pennsylvania where children have the best opportunity for economic mobility, according to a new report from Stacker. Economic mobility is an individual’s ability to move themselves and their families up the socioeconomic ladder throughout their lifetime. A recent analysis of economic mobility was performed by the…
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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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Here’s Pennsylvania’s 10 Richest Counties. See If Montgomery County Made the List
It may surprise you to learn that the Philadelphia Region is home to some of the wealthiest counties in the state, according to Lindsay Smith for the Centre Daily Times. With a median income of $99,361, Montgomery County is the third wealthiest county in Pennsylvania. Chester County came in at No. 1 with a median…
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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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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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New City Ave Master Plan Envisions More Restaurants, Entertainment, and Stores with Seamless Connections
With many more apartments being added along City Avenue, business leaders have developed a new plan for the car-centric corridor that would turn it into a diverse shopping, dining, and entertainment district, writes Paul Schwedelson for the Philadelphia Business Journal. The 3-mile stretch located on the border between Philadelphia and Lower Merion Township is now…
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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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Bryn Mawr College Event Tackles Finding Solutions to Growing Homelessness Crisis
HealthSpark Foundation based in Colmar recently hosted a conference on the homelessness crisis in Montgomery County at Bryn Mawr College, writes Rachel Ravina for The Reporter. At the event, 250 people came together to brainstorm possible solutions. Participants in “Meeting the Moment: Taking Action on Homelessness and Affordable Housing in Montgomery County” included advocates, developers,…
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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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