invest in greater philadelphia
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Greater Philadelphia 2012
Select Greater Philadelphia
Select Greater Philadelphia
Non-profit supported and funded by business community
70-person board of Regional CEO’s
Affiliate of Greater Philadelphia Chamber of Commerce
Perfectly Positioned
New York
San Francisco
Los Angeles
Greater Philadelphia
Boston
Washington DC
Chicago
Atlanta
Dallas-Fort Worth
Houston
Miami
Phoenix
Seattle
Detroit
Heart of the World’s 5th Largest Economy
RANK COUNTRY GDP ($ trillion)
1 United States 14.6
2 Peoples Republic of China
5.7
3 Japan 5.4
4 Germany 3.3
5 GREATER PHILADELPHIA (200 mi. Market Area)
2.8
6 France 2.6
7 United Kingdom 2.3
8 Italy 2.0
9 Brazil 2.0
10 Canada 1.6
Source: IHS Global Insight, 2010, International Monetary Fund, 2010
200-mile (322km) radius
Powerful Market
Market Size within 200 Miles of Major U.S. Cities
Population Total Income
New York 49.6 Million $1.50 Trillion
Philadelphia 47.0 Million $1.46 Trillion
Washington D.C. 34.3 Million $1.02 Trillion
Boston 31.7 Million $967.2 Billion
Chicago 25.4 Million $649.7 Billion
Los Angeles 23.8 Million $596.7 Billion
Detroit 21.7 Million $521.5 Billion
Atlanta 18.8 Million $437.7 Billion
San Francisco 14.8 Million $440.8 Billion
Dallas-Fort Worth 14.6 Million $358.9 Billion
Houston 13.9 Million $330.7 Billion
Miami 10.3 Million $267.9 Billion
Source: Claritas, 2011
Greater Philadelphia
Sources: IHS Global Insight, 2011, U.S. Bureau of Labor Statistics, 2011, U.S. Census Bureau, 2010 Census
Population
6.23 million (5th)
Employment
3.15 million (5th)
Personal Income
$291.5 billion (5th)
Gross Regional Product
$371 billion (7th)
Diverse Economy
Source: Bureau of Labor Statistics, 2010, Philadelphia Federal Reserve Bank, 2010
Construction, Natural Resources & Mining;
3,3%
Education & Health Services; 20,7%
Financial Activities; 7,5%
Government; 14,3%
Information; 2,0%
Leisure & Hospitality; 8,0%
Manufacturing; 6,5%
Professional & Business Services;
15,2%
Trade, Transportation & Utilities; 18,0%
Key Sectors in the Region
3,3%
6,7%
4,2%
5,8%
10,1%
3,8%
7,3%
6,1%
7,9%
12,2%
IT Producing
Clean Economy
Financial Services
Professional, Scientific, & Technical Services
Life Sciences & Healthcare Services
Employment Shares by Industry
GPR U.S.
Source: IHS Global Insight, 2011
Global Access
Philadelphia Int’l Airport:
29 carriers with 620 daily departures to 123 cities
55 non-stop flights to 36 international destinations
An international gateway for US Airways
8 additional international airports within 90-minute drive
Amtrak offers access to New York and Washington, DC in approximately 1.5 hours
46 Regional Port Facilities and over 200 large distribution facilities
Source: Philadelphia International Airport, 2011,
Sources: Philadelphia Business Journal, 2011, Pennsylvania Department of Community & Economic
Development, Dun & Bradstreet, 2010, Select Greater Philadelphia, Delaware Economic Development Office,
World Trade Center of Greater Philadelphia, U.S. Census Bureau, American Community Survey, 2009
Global Marketplace
34 of Fortune 1000 companies headquartered
747 foreign-owned firms from 39 countries
10 bilateral chambers of commerce
33 consulates
617,394 foreign-born residents
Major Companies in Greater Philadelphia:
Sources: Philadelphia Business Journal, 2011, Pennsylvania Department of Community & Economic Development, Dun & Bradstreet, 2010, Select Greater Philadelphia,
Delaware Economic Development Office, World Trade Center of Greater Philadelphia, U.S. Census Bureau, American Community Survey, 2009
Foreign-owned Companies
Country Number of Companies
Number of Employees in
Region
United Kingdom 143 31,008
Germany 104 20,508
Japan 76 9,058
France 69 10,772
Canada 66 7,544
Netherlands 43 10,722
Switzerland 43 5,000
Sweden 33 3,965
Australia 21 1,440
Italy 17 845
Global Marketplace
Sources: Philadelphia Business Journal, 2011, Pennsylvania Department of Community & Economic Development, Dun & Bradstreet, 2010, Select Greater Philadelphia,
Delaware Economic Development Office, World Trade Center of Greater Philadelphia, U.S. Census Bureau, American Community Survey, 2009
Employment by Industry Sector
Country Number of
Employees in Region
Chemical Mfg. 19,811
Prof., Scientific & Tech Services 11,223
Misc. Mfg. 9,667
Admin. & Support Services 9,061
Credit Intermediation 7,781
Food & Beverage Stores 5,920
Wholesalers – Durable Goods 5,886
Publishing (except Internet) 5,341
Insurance 4,568
Wholesalers - non-Durable Goods 3,865
Global Marketplace
Foreign Locate Case Study: UK Manufacturer of Bio-fluid Containers
Understand the Good or Service Being Sold
What Makes it Better than Existing Goods or Services?
Who are the Potential Customers, Who are Competitors?
What Activities Will Be Located Here: Distribution, then Mfg.
What Inputs Will be Purchased in the GPR, in the US?
Labor Needs
Real Estate Needs
Professional and Business Services
Talented Workforce
Education Pipeline:
101 Institutions
Over 379,000 students
Over 83,500 Degrees & Certificates Awarded
Among the 25 largest MSAs:
Highest award rate for first professional degrees
2nd highest award rate for bachelors degrees
35% of residents 25+ have at least a Bachelor’s degree
Sources: National Center for Educational Statistics, Integrated Post-Secondary Education Database (IPEDS), 2008/09
Home to Top-Ranked Universities:
A Place to Connect and Grow
Welcoming business community
Large number of incubators, accelerator and technology transfer programs
Small business centers
Specialized office spaces
Access to capital
Networking and professional development events
Entrepreneurial organizations
At the Cutting Edge
Top 5 for Research & Development
$10.5 billion annually in research and development
Home to National DOE, Energy Innovation Hub
Top 5 in patent award rate per resident
18 companies on Deloitte’s Technology Fast 500
Greenest city in the U.S. by 2015
Sources: U.S. Patent & Trademark Office, 2011, Deloitte, 2011, City of Philadelphia, Select Greater Philadelphia
Best Value in the Northeast U.S.
Compared to Boston, New York, & Washington DC, Greater Philadelphia has the lowest:
Wage & salary costs
Office rental rates
Industrial rental rates
Cost of living
Median housing sales price
$-
$1 000 000
$2 000 000
$3 000 000
$4 000 000
$5 000 000
$6 000 000
GreaterPhiladelphia
Boston WashingtonD.C.
New York
Annual labor cost is for 100 workers in occupations typically required by companies in the private,
services-providing sectors.
Annual Wage & Salary Costs for Private, Services-Providing Sectors
Sources: IHS Global Insight, 2011, U.S. Bureau of Labor Statistics, 2011, ACCRA Cost of Living Index, 2010, National Association of Realtors, U.S. Census Bureau, 2010, Select Greater Philadelphia
$56,20
$38,78
$37,64
$34,24
$34,22
$32,56
$29,40
$29,36
$28,00
$22,92
$22,57
$21,42
$0,00 $10,00 $20,00 $30,00 $40,00 $50,00 $60,00
New York
Washington, DC
San Francisco
Miami
Boston
Los Angeles
Houston
Chicago
Greater Philadelphia
Dallas-Fort Worth
Atlanta
Detroit
Rental Rates per s/f for Class A Office Space in Large Metros
Cost of Doing Business
Sources: Grubb & Ellis, 2011q4
$8,20
$5,79
$5,46
$5,06
$4,68
$4,59
$3,96
$3,92
$3,68
$3,50
$3,44
$0,00 $1,00 $2,00 $3,00 $4,00 $5,00 $6,00 $7,00 $8,00 $9,00
Miami
Los Angeles
Boston
New York
San Francisco
Houston
Detroit
Chicago
Greater Philadelphia
Dallas-Fort Worth
Atlanta
Rental Rates per s/f for Warehouse / Distribution Space in Large Metros
Cost of Doing Business
Sources: Grubb & Ellis, 2011q4
$10,41
$9,87
$9,63
$9,35
$8,16
$8,03
$7,90
$7,65
$7,59
$6,47
$6,41
$0,00 $2,00 $4,00 $6,00 $8,00 $10,00 $12,00
Los Angeles
Boston
Miami
New York
San Francisco
Detroit
Chicago
Greater Philadelphia
Houston
Dallas-Fort Worth
Atlanta
Rental Rates per s/f for R&D / Flex Space in Large Metros
Cost of Doing Business
Sources: Grubb & Ellis, 2011q4
Quality of Life
Wealth of museums, galleries, and historical sites
Nationally recognized restaurants & breweries
Approx. 2 hours to beach & mountains
86,456 acres of parkland
9 professional & 573 NCAA sports teams
193 golf courses
Photo by G. Widman for GPTMC
Travel & Leisure
#1 – Overall Culture
#1 – Historical sites/monuments
#1 – Sports-crazed
#2 – Classical music
#2 – Street food
#3 – Overall food/drink/restaurants
#5 – Theaters/performance art
#5 – Museums/galleries
#5 – Overall shopping
“America’s Favorite Cities” Philadelphia Rankings Voted by Visitors
Headquarters for Success
Comcast Corporation
Established: 1969
Sector: Telecommunications, broadcasting
Location: Global Headquarters in Philadelphia, PA
Summary: The largest cable operator, home internet service provider, and fourth largest home telephone service provider in the United States, providing service to both residential and commercial customers in 39 states and the District of Columbia. Comcast is also the majority owner and manager of NBCUniversal.
SAP America
Established: 1972 (Weinheim, Germany)
Sector: Computer software
Location: US Headquarters in Newtown Square, PA
Summary: The world's largest business software company and the third-highest revenue independent software provider (as of 2007). SAP has about 12,500 employees in North America, with more than 2,000 employees in Newtown Square.
Headquarters for Success
E.I. DuPont de Nemours & Company
Established: 1802
Sector: Chemical Manufacturing
Location: Global Headquarters in Wilmington, DE
Summary: DuPont operates in approximately 90 countries and employs 70,000 worldwide. DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
Trinseo, S.A. (formerly Styron, LLC)
Established: 2010
Sector: Plastics Manufacturer
Location: Global Headquarters in Berwyn, PA
Summary: A world leader in the production of plastics, latex, and rubber. Trinseo, an independent company formed in 2010, was created by combining the technologies and capabilities of four businesses of The Dow Chemical Company. The company operates 35 production facilities in nearly 20 countries.
Headquarters for Success
Lincoln Financial Group
Established: 1968
Sector: Insurance & Retirement Planning
Location: Global Headquarters in Radnor, PA
Summary: A Fortune 500 company, Lincoln focuses on four core business areas - life insurance, annuities, retirement plan services, and group protection. The company is also active in the investment management business, offering individual and institutional clients such financial services as pension plans, trusts, and mutual funds through its subsidiaries.
Vanguard Group
Established: 1975
Sector: Investment Management
Location: Global Headquarters in Valley Forge, PA
Summary: Vanguard is one of the world's largest investment management companies. With offices in 11 countries the company employs approximately 13,000 people worldwide. Vanguard manages $1.7 trillion in U.S. mutual funds.
Headquarters for Success
Shire USA
Established: 1986 (Basingstoke, UK)
Sector: Pharmaceuticals
Location: US Headquarters in Wayne, PA
Summary: As a global specialty biopharmaceutical company listed on the London and NASDAQ exchanges, Shire is one of the fastest-growing biopharmaceutical companies in the world.
GlaxoSmithKline USA
Established: 2000 (London, UK)
Sector: Pharmaceuticals
Location: Regional Headquarters in Philadelphia, PA; Major R&D sites in Upper Merion & Collegeville, PA; and a Major manufacturing site in King Of Prussia, PA
Summary: One of the world’s leading research-based pharmaceutical and healthcare companies with a share of around 5% of the world's pharmaceutical market.
Location for Success
Campbell Soup Company Established: 1869
Sector: Food Manufacturer
Regional Employment: 1,200
Locations: Global Headquarters, R&D, Manufacturing
Summary: A global manufacturer and marketer of high-quality foods and simple meals, including soups and sauces, baked snacks, and healthy beverages. The world’s #1 soup maker with domestic market penetration of over 80% of US households. Campbell’s products are sold in 120 countries around the globe.
Tasty Baking Company Established: 1914
Sector: Food Manufacturer
Regional Employment: 740
Locations: Headquarters, Manufacturing, Distribution
Summary: A manufacturer of single-serve cupcakes, snack-sized cakes, and fruit pies. It also makes cookies, brownies, pastries, honey buns, and doughnuts. The new manufacturing facility at the Philadelphia Navy Yard is the greenest bakery in the world.
Location for Success
Keystone Foods
Established: 1946
Sector: Food Processor
Regional Employment: 260
Locations: Global Headquarters, R&D, Distribution
Summary: Keystone Foods is a multi-national, multi-protein processor and food distributor for the world’s best fresh and frozen protein brands and is focused on innovation and dedicated to food safety and quality.
Hatfield Quality Meats
Established: 1895
Sector: Food Manufacturer
Regional Employment: 1,558
Locations: Headquarters, Manufacturing, Distributon
Summary: A member of the Clemens Family Corporation, also headquartered in Hatfield, manufacturer of processed pork everything from bacon to scrapple.
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Philadelphia, PA 19102-3896 P: 215.790.3777 or 1.800.221.0774
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