Economic Development
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If You’re Going Through Summer Withdrawal, Check Out These Upcoming Wildwood Projects
As we head into the winter holidays, those summer days down the shore may seem worlds away. Don’t worry though, here are some upcoming new developments planned for The Wildwoods to hold you over until the summer months return. There are 11 development plans planned to reinvigorate The Wildwoods, writes Ryan Mulligan for the Philadelphia…
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VFTCB Celebrates Innovation, Creativity in Montgomery County Tourism at Annual Luncheon
The Valley Forge Tourism & Convention Board shared an optimistic outlook for Montgomery County tourism to 600 attendees at the organization’s annual luncheon event at the Greater Philadelphia Expo Center at Oaks. With a theme of Focus, the VFTCB released its 2023 Annual Report highlighting the positive economic impact of the hospitality industry in Montco,…
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Wall Street Journal: Philadelphia Fed President Wants to Stop Raising Interest Rates
Patrick Harker, Philadelphia Fed President, believes that the central bank should take its time before deciding the fate of interest rate increases, writes Nick Timiraos for the Wall Street Journal. “This is a time where we just sit for a little bit … let’s see how things evolve over the next few months,” said Harker. …
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Center City is Recovering Well Post-Pandemic, But There is More Work To Do
As the post-pandemic world progresses, city downtowns are continuing to recover and Philadelphia is among the most well-recovered, writes Paul Schwedelson for the Philadelphia Business Journal. New research by the Center City District found that Philadelphia is among the top five cities in the nation when it comes to two key factors: industry mix and…
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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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Montco Has 4 of Wealthiest ZIP Codes with Highest Education Rates in Region
Four Montgomery County places ranked among the ten wealthiest ZIP codes in the Philadelphia region with the highest number of residents with postgraduate degrees, writes Todd Romero for the Philadelphia Business Journal. Higher education levels have been found to correspond with a higher income level nationally and in Greater Philadelphia, where the wealthiest ZIP codes…
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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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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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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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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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Five Montgomery County Towns Are Among the Wealthiest in the State
Using data from the U.S. Census’ five-year American Community Survey, Chris Ullery for Bucks County Courier Times has calculated which towns are the wealthiest in Pennsylvania and five Montgomery County towns were among the top 50. Thirty-seven of the commonwealth’s 50 richest towns are in Southeastern Pennsylvania. In Chester County, the median income is almost…
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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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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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A Second Developer Has Plans for Apartments, Retail in Downtown Hatboro
The developers of vacant properties at 21-23/37 North York Road hope to build retail and apartments in the space, but first they need approval from the Hatboro Borough Council, writes Dino Ciliberti for Patch. Under the borough’s new Town Center Ordinance, buildings along a stretch of York Road, between Byberry Road and Montgomery Avenue, can…
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Montgomery County Small Business Presence Among Highest in Pennsylvania
Montgomery County ranked second among Pennsylvania counties that have the greatest small business presence, according to SmartAsset. SmartAsset based the rankings on five factors: the proportion of people in a county with small business income, the reported business income, the amount of tax a potential resident must pay on their income, the five-year change of…
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Plans Are Underway to Turn Lower Merion’s Bala Plaza into a Live-Work-Play Complex
Developer Tishman Speyer has big plans for Bala Plaza in Lower Merion, but the long timetable expected to make it has some people concerned, writes Michael Bradley for Main Line Today. The vision is to turn the office park into a live-work-play complex, but it could take 20 years to do it. Lower Merion Township…
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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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