What is the Economy of Philadelphia?

Possessing a dynamic mix of modern corporations, small businesses, and deep roots in manufacturing, Philadelphia is an economic powerhouse known for its steady growth and strong job market. The combination of deep cultural roots and powerful businesses is what makes the city an attractive destination for anyone looking to start, or expand, a business.

The economy of Philadelphia is centered on major industries including healthcare, food production and processing, education, finance, and professional services. The region’s largest employer is the University of Pennsylvania Health System, and other major employers include Aramark, The Children’s Hospital of Philadelphia, Temple University Hospital, and TD Bank.

Philadelphia is home to a number of large corporate headquarters, including: Comcast, Sunoco, Aramark, Cigna, Campbell’s Soup Company, GlaxoSmithKline, Glaxo Wellcome, Pep Boys and Urban Outfitters. Philadelphia’s vast number of publicly traded companies make up a significant part of the economy.

Philadelphia also has diverse industries in technology, and it is home to several major software companies, including SAP America and Oracle Corporation. Additionally, the city hosts the headquarters for several large pharmaceutical companies. Philadelphia has become increasingly attractive for the biomedical industry and numerous start-up companies in new technology and health care.

The economic foundation of Philadelphia is connected to diverse sectors, from telecommunications and biotechnology to energy and manufacturing. Manufacturing plays an important role in the local economy. With a strong concentration of industrial plants and manufacturing facilities, the city ranks high on the list of US cities for industry employment. Many companies in Philadelphia are also involved in shipbuilding, refining of petroleum products, aerospace design, transportation equipment production, apparel manufacturing and paper production.

Philadelphia also plays a significant role in financial markets both in the United States and internationally. It is home to several major financial institutions such as Wells Fargo Bank, Bank of America, Citizens Bank, TD Bank and PNC Bank.

Likewise important to Philadelphia’s economy are the semiconductor and computer technology industries. With local access to numerous universities and private research facilities, the city is home to numerous high-tech companies such as Oracle Corporation and ST Microelectronics. Finally, Philadelphia’s growing legal industry has made neighborhoods like Center City and Rittenhouse Square attractive locations for attorneys and law firms.

In conclusion, Philadelphia is an economic hub with a thriving business climate due to its combination of industrialization and modern technology. It has a diverse range of businesses from traditional manufacturing to biotech startups and its access to educational resources make it a great place for innovation and investment. Phila.gov is a great source for more information about the economy of Philadelphia.

Philadelphia

An Insider’s Guide to Philadelphia

Philadelphia, Pennsylvania is one of the United States’ most historic and culturally vibrant cities. Nicknamed the “City of Brotherly Love” and home to the cheesesteak sandwich, Philadelphia has a lot to offer visitors. From exploring the diverse neighborhoods to immersing yourself in US history to enjoying fine cuisine, there’s always something to do or see in Philadelphia.

Local Attractions

One of Philadelphia’s most famous attractions is Independence National Historical Park. It is a must-visit location that includes the Independence Hall, where the Declaration of Independence and the US Constitution were adopted. The Liberty Bell, which represents American independence, is also a must-see attraction. Another historical site is the Valley Forge National Historical Park that is open from dawn to dusk all year round. This park holds important memories of the American Revolution.

Visit the Philadelphia Museum of Art, which is one of the largest art museums in the country, offering a glimpse of American Art from the 18th and 19th centuries to Modern and Contemporary Art. There’s a statue park right in front of the museum, which is also worth a visit. The Franklin Institute is an interactive science museum with exhibits and experiences on various scientific topics. The Reading Terminal Market is a popular indoor market offering a variety of cuisines and fresh produce.

Dining Spots

Philadelphia is a melting pot of cultures, and cuisine reflects that. Among the famous cuisine, Philadelphia is prominent for the “PHILLY CHEESESTEAK”, but there is much to explore. The city offers a wide range of food choices, like Italian, Greek, Vietnamese, and vegan options. Try “The Good King Tavern” in Bella Vista, which is a small but lively French restaurant near the Italian Market. Another hidden gem worth trying is the “Sabrina’s Cafe and Spencer’s Too” in Art Museum Area. The place serves delicious brunch-style American food.

Cultural Experiences

Philadelphia celebrates its roots in many ways. For music lovers, the Philly POPS is a well-known symphony orchestra that plays classical music. Visit the Kimmel Center, which is a performing arts center that hosts various performances. Delaware River Harbor is an excellent spot for tourists to head to. It has waterfront restaurants, boutiques, boat tours, and frequent live music shows. The Mutter Museum is a medical museum specializing in human anatomy and pathology, showing various exhibits, like the giant colon and century-old preserved brains. Philadelphia is also famous for street artists and boasts dozens of murals around the city.

Local History

Philadelphia has a rich history dating back to the colonial times, and tourists can further immerse themselves at the Independence National Historical Park. Another historic spot to visit is Eastern State Penitentiary, which once housed notorious criminals like Al Capone. Tourists can see the creepy interior preserved as it was in the late 19th century. The Reading Terminal Market, which has served the residents since 1893, is a favorite of tourists looking to taste some Philadelphia-inspired food.

Off-the-Beaten-Path Suggestions

Philadelphia is full of surprises, and as a tourist, one can also look for something different. The Spruce Street Harbor Park is a lively urban beach with hanging hammocks, small gardens, and excellent food vendors. Philadelphia Magic Gardens, a collection of art installations created by Isaish Zagar is a must-visit off-the-beaten-path destination. Philadelphia is also home to many abandoned railways, which later turned into hiking trails. The Schuylkill River Loop bridges the east and west of the city and offers scenic views of the Philly skyline.

Philadelphia has many unique attractions and experiences to offer visitors. Plan your itinerary, prepare your stomach for lots of delicious food, and immerse yourself in American history in the vibrant City of Brotherly Love.