Philadelphia a world-class destination to reside and do business

Philadelphia a world-class destination to reside and do business

2022-07-13T06:07:07-04:00May 10th, 2022|Economy, Philadelphia|

Writer: Joey Garrand

2 min read May 2022 — Today’s era allows for greater flexibility in the location of individuals, families and companies than ever before. Local leaders shared with Invest: what makes Philadelphia a great place to reside and do business.

Eric Pryor, President & CEO, The Pennsylvania Academy of the Fine Arts 

Philly has a very strong mix of museums and performing arts organizations that are located in close proximity to one another, making it possible for visitors to walk from one venue to the next. Also, the city’s museums are world-class with deep, rich permanent collections. Philly is a city of many firsts, which includes PAFA, our nation’s first museum and art school. Philadelphia has the scale and cultural sophistication of a major metropolitan area while possessing the charm and intimacy of a small town. We are also strategically located between New York City and Washington D.C., making it possible for us to draw visitorship from both of those metropolitan regions and allowing us to capitalize on cultural tourism.

Ronald Matthews, President, Eastern University

Philadelphia has more universities and colleges in its region per capita than any other place in the country. There are 99 colleges and universities within the Philadelphia area, and the educational institutions are amazingly diverse. Apart from one merger and another in process, the education ecosystem in Philadelphia has remained resilient throughout the pandemic and mutually supportive. More and more businesses are realizing the benefit of being in close proximity with higher education, which bodes well for a place like Philadelphia where every sector of higher education is represented.

Steven Cousart, Executive Vice President & Managing Director, Newmark

The Philadelphia region is an incredible place to live and work and offers residents many amenities, including several attractive live-work-play environments.

Philadelphia is geographically well-positioned to reap benefits from surrounding real estate markets. High industrial rents and limited space availability in the northern New Jersey and New York areas have been pushing users down into the South Jersey and Lehigh Valley markets—a trend which benefits our region. 

James Woodward, President & CEO, Trinity Health Mid-Atlantic

Philadelphia is very similar to New York City or Chicago. We have a number of very strong community hospitals as well as large academic healthcare institutions. While 80% of our lifetime healthcare needs are met by community hospitals, the 20% which is more esoteric or requires a higher level of care is readily available in our community through partnerships with academic providers like Penn Medicine. Our overall healthcare ecosystem is fertile ground providing the latest technology and wonderful healthcare career opportunities.

Gary Holloway Jr., Chief Executive Officer & President, GMH Communities

Philadelphia is a brainy city; we’ve got some of the best colleges and universities nationally. We are comparable to New York, Boston or San Francisco in terms of what we have to offer but we are an affordable option. At ANOVA uCity Square, we have a strong base with Drexel, Penn, Temple and the suburban schools. The average rent is around $50 per square foot, which is reasonable when compared to other life science anchors in the country. We are situated in a perfect spot in the Eastern Corridor, have great universities throughout the city, and continue to be affordable.

Zabeth Teelucksingh, Executive Director, Global Philadelphia Association

The city is home to so many communities. Pretty much any community you can think of has a place of worship, grocery store and restaurant with its food and cuisine, which makes it attractive to all sorts of people from all over the world. Philadelphians are also very committed to the city. Almost everyone volunteers along with their day job. And if you’re into sports, the city is a winner because not only do we have terrific teams but really passionate fan bases. We have incredible rowing opportunities on the Schuylkill River, a world-class squash facility at Drexel, and a great cricket community, which appeals to a lot of people who are international. Additionally, we host the Unity Cup every year, which is a Philly-based soccer tournament in which 48 country teams participate.