city of philadelphia presentation - … · o first paper mill, public school, fire station, public...
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CITY OF PHILADELPHIA PRESENTATION
Prepared by Stephen W.W. Ching, Jr., Esquire, International Chair, Obermayer Law Firm
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KEY ECONOMIC AND SOCIAL DATA FOR GREATER PHILADELPHIA REGION
• 5th largest metropolitan region in the U.S. population (following only New York, Los Angeles, Chicago and Dallas); 51st most populous in the world.
• Total population 6.1 million people; 1.54 million, city proper (2008). • Total population with a 200mile radius of downtown Philadelphia in 2009:
46.103 million, ranked 2nd among the 12 largest Metropolitan Statistical Areas (MSAs).
• Total employment of 2.9 million. • 2nd largest on the East Coast in terms of employment and population. • 92 colleges and universities; 2nd largest concentration of colleges and
universities in the US. • Gross metro product of $354.85 billion in 2009. • Total retail sales of $85.9 billion in 2009. • Total income within a 200mile radius of downtown Philadelphia in 2009:
$1,461 billion, ranked 2nd among the 12 largest MSAs. • 5th largest total personal income. • 4th largest media market; largest media company (ComcastNBCUniversal) in
the US. • Lower cost of living than the other major northeast metros including New
York, Boston, Washington D.C. and Baltimore; 50% less than New York, Boston, Washington D.C. and Baltimore.
• Offers the lowest office rents among major northeastern U.S. metros. • Exports from Pennsylvania to China (2nd after Canada):
2007 2008 2009 June 2009 YTD June 2010 YTD1,293,499,004.00 1,630,498,524.00 1,540,831,693.00 702,890,377.00 1,168,395,498.00
• Pennsylvania: US$27.4 Billion Exports annually (Rank #8); 201,634 export jobs (Rank #9)
• Philadelphia's Amtrak station is the third busiest in the country. • Home to three major shipping ports including one of the very few directly
served by three Class I railroads. • Wellpositioned to succeed in the global marketplace in four key industries:
Life Sciences, Chemicals, Financial Services and Information Technology. • Ranked top for current impact in the Life Science industry by the Milken
Institute's 2009 report. • Philadelphia voted “Next Great American City”, National Geographic. • About Inc. rated Philadelphia as one of the top walking cities in the U.S. • Bicycling Magazine rated Philadelphia as a runnerup as best cycling city in
the U.S.
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Philadelphia Birthplace of America
o Birthplace of America and its Government and Legal System o First Capital of US, First Manufacturing Center of US. First Commercial
& Financial Center of US o First paper mill, public school, fire station, public library, hospital,
insurance company, medical school, bank, law school, Federal lint, highway, water works, printing company, railroad, zoo
o 1st Ship (Empress of China) from US to China (1784) financed and underwritten by Philadelphia merchants (Robert Morris) and insurance company (Cigna’s predecessor)
o 1st major exhibition of Chinese Art in America—Philadelphia—1876 Centennial Celebration
o 1st foreign orchestra to visit modern China—Philadelphia Orchestra in 1973—considered America’s symphony ambassador
o One of the 1st foreign pharmaceutical companies to invest in China—Philadelphia’s GlaxoSmithKline (1987)
o One of the 1st foreign insurance companies to invest in China—Philadelphia’s CIGNA
o Philadelphia’s university –the school of choice for the children of China’s most prominent leaders: Son of former Chinese President, Jiang Zemin, attended Philadelphia’s Drexel University
o Summit between University of Pennsylvania President Judith Rodin and former Chinese President Jiang Zemin (1998)
o Establishment of the Wharton‐Graduate School of Education‐China Executive Management Education Program (1994)
o 1st foreign law school in China: Temple University Law School’s campus at Tsinghua University (1999)—the breeding ground of China’s brightest legal minds, sponsored by Philadelphia’s AIG
o Philadelphia’s Aramark Corporation acquired one of China’s leading facilities service companies (2004)
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GREATER PHILADELPHIA EXPORTS PROFILE
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International Business in Greater Philadelphia With easy global market access, the Greater Philadelphia region is ideal for the operation of firms located outside the U.S. or those that do business internationally. In fact, over 590 internationally headquartered companies from 37 different countries have located an office or facility in Greater Philadelphia.
In addition to the increasing number of foreign‐owned businesses in Greater Philadelphia, the region has the 11th largest foreign‐born population in the United States.
Resources
• There are many international chambers of commerce and foreign consulates in Philadelphia. There are dozens of international community groups.
• The International Visitors Council‐nominated for a Nobel Peace Prize‐arranges tours for hundreds of foreign business delegations annually.
• The area's World Affairs Council hosts more than 50 events a year with renown CEOs, journalists, policy makers and authors.
• World‐class colleges and universities, and research institutes, Greater Philadelphia gives companies access to fresh talent.
• Cuisine from around the globe.
Reach
• Greater Philadelphia is two hours by air to 50% of the U.S. population and six hours non‐stop to California, Great Britain, Europe, and Latin America.
• Midway between New York and Washington, D.C., a strong transportation hub makes it easy for businesses to move people, products, and ideas around the world.
• Our thriving business community brings together international corporations and innovative new ventures.
The top five countries with companies located in Greater Philadelphia are the United Kingdom, Germany, Canada, Japan and France.
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Fortune 1000 Companies in Greater Philadelphia
Company Name Rank Revenues in Millions Location AmerisourceBergen 24 71,789 Chesterbrook, PA Comcast 59 35,756 Philadelphia, PA Sunoco 78 29,630 Philadelphia, PA DuPont 86 27,328 Wilmington, DE Cigna 129 18,414 Philadelphia, PA Aramark 189 12,297 Philadelphia, PA Lincoln National 256 9,071 Radnor, PA NRG Energy 263 8,952 Princeton, NJ Crown Holdings 289 7,938 Philadelphia, PA Campbell Soup 299 7,586 Camden, NJ UGI 369 5,737 King of Prussia, PA Sun Guard Data Systems 380 5,508 Wayne, PA Universal Health Services 403 5,202 King of Prussia, PA Unisys 452 4,597 Blue Bell, PA Airgas 474 4,349 Radnor, PA Burlington Coat Factory 559 3,571 Burlington, NJ VWR Funding 561 3,561 West Chester, PA PHH 638 3,033 Mount Laurel, NJ FMC 667 2,826 Philadelphia, PA Church & Dwight 723 2,520 Princeton, NJ Cephalon 781 2,192 Frazer, PA Ametek 797 2,098 Paoli, PA Charming Shoppes 810 2,064 Bensalem, PA Vishay Intertechnology 816 2,042 Malvern, PA Teleflex 831 2,001 Limerick, PA Covance 846 1,962 Princeton, NJ Urban Outfitters 852 1,937 Philadelphia, PA Pep Boys‐ Manny, Moe & Jack 860 1,910 Philadelphia, PA Toll Brothers 914 1,755 Horsham, PA
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Fortune 500 Companies within 200 Mile Radius
Company Name Revenue ($ million)
Total Employees
Company Wide AES $ 16,070.0 25,000 Aetna $ 30,950.7 35,500 Air Products and Chemicals, Inc. $ 8,256.2 18,900 Alcoa $ 30,748.0 87,000 American Express $ 24,523.0 66,000 American International Group $ 110,064.0 116,000 AmerisourceBergen Corporation $ 71,760.0 1,030 ARAMARK Corporation $ 13,470.2 260,000 Arrow Electronics $ 16,761.0 12,700 Assurant $ 8,453.5 15,000 Automatic Data Processing $ 8,867.1 45,000 Avis Budget Group $ 5,984.0 26,000 Avon Products $ 10,690.1 42,000 Bank of New York Mellon Corp. $ 14,798.0 42,900 Barnes & Noble $ 5,410.8 37,000 Becton Dickinson $ 7,160.9 29,116 Bed Bath & Beyond $ 7,208.3 37,000 Black & Decker $ 6,086.1 22,100 BlackRock $ 4,844.7 5,341 Bristol‐Myers Squibb $ 20,597.0 35,000 Cablevision Systems $ 7,230.1 20,105 Campbell Soup $ 7,586.0 18,700 Capital One Financial $ 13,892.7 25,800 CBS $ 14,072.9 25,920 Chubb $ 13,221.0 10,400 CIGNA Corporation $ 19,101.0 30,300 CIT Group $ 8,605.0 4,995 Citigroup $ 159,229.0 326,900 Colgate‐Palmolive $ 13,789.7 36,600 Comcast Corporation $ 34,256.0 100,000 Computer Sciences $ 16,739.9 92,000 Consolidated Edison $ 13,388.0 15,628 Constellation Energy $ 19,818.3 10,200 Corning $ 5,948.0 27,000 Coventry Health Care $ 11,913.6 15,800 Crown Holdings, Inc. $ 8,305.0 21,300 Danaher $ 12,697.5 50,300 Dover Corporation $ 7,487.2 32,300 DuPont $ 30,653.0 60,000 Emcor Group $ 6,785.2 28,000 Estee Lauder $ 7,037.5 31,300 Fannie Mae $ 43,355.0 5,800 Foot Locker $ 5,437.0 39,758
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Freddie Mac $ 43,104.0 5,000 Gannett $ 6,767.6 41,500 General Dynamics $ 29,300.0 92,300 General Electric $ 156,783.0 323,000 Goldman Sachs Group $ 87,968.0 30,067 Great Atlantic & Pacific Tea $ 9,516.2 48,000 Guardian Life Insurance Co. of America $ 10,070.7 5,400 Hartford Financial Services $ 9,219.0 31,000 Henry Schein $ 6,394.9 12,500 Hershey $ 5,132.8 14,400 Hertz Global Holdings $ 8,525.1 24,900 Hess $ 31,924.0 13,500 Honeywell International $ 36,556.0 128,000 Host Hotels & Resorts $ 5,288.0 215 Icahn Enterprises $ 5,008.0 52,500 International Business Machines $ 98,786.0 398,455 Interpublic Group $ 6,554.2 45,000 ITT $ 11,694.8 40,800 J. P. Morgan Chase & Co $ 116,353.0 224,961 Jarden $ 5,383.3 20,000 Johnson & Johnson $ 61,897.0 118,700 L‐3 Communications $ 13,960.5 65,000 Legg Mason $ 4,634.1 3,890 Lincoln National $ 9,905.0 9,696 Lockheed Martin $ 42,731.0 146,000 Loews $ 13,247.0 19,100 Marriott International $ 12,879.0 146,000 Marsh & McLennan $ 12,148.0 54,400 MasterCard $ 4,991.6 5,500 McGraw‐Hill $ 6,772.3 21,649 Medco Health Solutions Inc. $ 51,258.0 21,800 Merck $ 18,502.0 55,200 Merrill Lynch $ 64,217.0 51,000 MetLife $ 53,150.0 9,700 Morgan Stanley $ 87,879.0 46,964 New York Life Insurance $ 29,279.6 15,000 News Corp. $ 28,655.0 55,000 Northeast Utilities $ 5,800.1 6,189 NRG Energy $ 6,885.0 3,526 NYSE Euronext $ 4,951.0 3,757 Omnicon Group $ 12,694.0 68,000 Pepco Holdings $ 10,700.0 5,474 Pepsi Bottling $ 13,796.0 66,800 PepsiCo $ 43,251.0 198,000 Pfizer $ 48,418.0 81,800 Phillip Morris International $ 25,705.0 75,600 Pitney Bowes $ 6,262.3 35,140 Polo Ralph Lauren $ 4,880.1 17,000
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PPL Corporation $ 8,044.00 10,554 Praxair $ 10,796.0 26,936 Prudential Financial $ 29,275.0 41,844 Public Service Enterprise Group $ 13,322.0 6,069 Quest Diagnostics $ 7,455.2 42,800 Realogy $ 4,725.0 11,400 Rite Aid Corporation $ 26,289.3 112,800 Rohm and Haas Company $ 9,575.0 15,490
Schering‐ Plough $ 1,266.0 Included in Merck figure
Sealed Air Corporation $ 4,242.8 17,000 SLM $ 3,109.1 8,000 Starwood Hotels & Resorts $ 5,907.0 145,000 SunGard Data Systems $ 5,596.0 20,000 Sunoco, Inc. 54,146.0 13,700 Terex $ 9,889.6 20,000 TIAA‐CREF $ 27,526.0 7,500 Time Warner $ 46,615.0 87,000 Toys 'R' Us $ 13,724.0 69,000 Travelers Companies $ 24,477.0 33,000 UGI Corporation $ 5,737.8 5,900 Unisys Corporation $ 5,233.3 29,000 United Technologies $ 58,681.0 223,100 Universal American $ 4,659.2 2,100 Universal Health Services $ 5,022.4 39,500 Verizon Communications $ 93,775.0 223,900 Viacom $ 13,495.5 11,500 Virgin Media $ 8,152.5 14,609 W.R. Berkley $ 4,708.8 5,768 Wyeth $ 22,833.9 57,100 Xerox $ 17,228.0 47,426 Totals $ 2,784,390.8 6,293,072
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Active companies headquartered in the region
Name Industry
Fortune 1000 rank (2009)
AlliedBarton Security ADA Transcription Transcription services Alpha Video Entertainment Airgas Gases 553 AmerisourceBergen drug wholesale 26 Ametek Electronics 770 Amoroso's Baking Company Food AppLabs Software Aqua America Utilities Aramark Hospitality 198 AUS, Inc. consulting, research Ballard, Spahr, Andrews & Ingersoll Law Beneficial Bank Financial Bentley Systems software BDP International global logistics Blank Rome law Brandywine Realty Trust real estate Boscov's retail Burlington Coat Factory apparel 624 Calkins Media media Campbell Soup Company food 320 Carpenter Technology Corp. metals 890 Cephalon pharmaceuticals 903 CIGNA insurance 132 Charming Shoppes apparel 747 Colonial Penn insurance Comcast telecommunications 68 Conrail Shared Assets Operations railroad Cozen O'Connor law Crown Holdings packaging 312 Curtis Publishing Company publishing Dechert law Disston Precision manufacturing
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Drinker Biddle & Reath law Duane Morris law DuPont chemicals 81 Event Strategy Group marketing FMC Corp. chemicals 672 Fox Rothschild law Frankford Candy & Chocolate Company food
Fuji Advanced Sports bicycles Genesis HealthCare health care
Goldstein Media LLC Web Design and Internet Marketing
Ikon Office Solutions office equipment 507 Jones Apparel Group apparel League Collegiate Wear apparel Liberty Property Trust real estate Lincoln National Corporation insurance 274 Lorél Marketing Group Marketing Services
Makmi Group Corporate Identity Branding and Marketing
Marshall, Dennehey, Warner, Coleman & Goggin law
Melior Discovery Pharmaceutical Destination Maternity apparel Morgan, Lewis & Bockius law NutriSystem food Orleans Homebuilders house construction P4MV marketing Penn Mutual insurance Penn National Gaming entertainment 794 Pennoni Associates Inc. engineering Pep Boys Manny Moe & Jack automotive 917 Pepper Hamilton law Philadelphia Consolidated Holding Corp. insurance
Philadelphia Media Holdings newspapers Pinnacle Foods food Planalytics weather
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Portico Systems software Radian Group finance 959 Rita's Water Ice food Rohm and Haas chemicals 281 Rowland Company manufacturing Saul Ewing law Schnader, Harrison, Segal & Lewis law SEI Investments financial Sovereign Bancorp financial Stevens & Lee law Stevens & Lee law Sunoco oil 41 Sungard information technology 435 Susquehanna International Group financial Tasty Baking Company food Teleflex manufacturing 797 TLA Entertainment Group entertainment Toll Brothers house construction 667 Troemner science equipment T.H. Properties home builder UGI Corporation utilities 377 Unisys information technology 456 Universal Health Services health care 467 Urban Outfitters apparel 953 Vanguard financial Vishay Intertechnology electronics 712 VWR Funding scientific products 579 Wawa Food Markets convenience stores White and Williams law Wilmington Trust financial WSFS Bank financial Sunoco oil 41 Sungard information technology 435 Susquehanna International Group financial Tasty Baking Company food Teleflex manufacturing 797 TLA Entertainment Group entertainment
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Toll Brothers house construction 667 Troemner science equipment T.H. Properties home builder UGI Corporation utilities 377 Unisys information technology 456 Universal Health Services health care 467 Urban Outfitters apparel 953 Vanguard financial Vishay Intertechnology electronics 712 VWR Funding scientific products 579 Wawa Food Markets convenience stores White and Williams law Wilmington Trust financial WSFS Bank financial
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US headquarters of foreign corporations
Name Industry
Fortune Global 500 rank (2009)
ACE Ltd. insurance AgustaWestland aviation Aker American Shipping maritime AstraZeneca pharmaceuticals 268 Bachmann Industries hobby EMD Chemicals Inc. chemicals HSBC Bank USA financial 21 ING Direct financial 8
IKEA North America, LLC retail privately held
Svenska Cellulosa Aktiebolaget (SCA) forestry SAP America software Shire Pharmaceuticals pharmaceuticals Siemens Medical Solutions medical 30 Subaru automotive TD Bank, N.A. financial Teva Pharmaceuticals pharmaceuticals
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Divisions of US corporations
Name Industry Parent Fortune 1000 rank (2007)
Acme Retail Supervalu 117 Boeing Rotorcraft aviation Boeing 28 Centocor pharmaceuticals J&J 36 Delmarva Power energy Pepco Holdings 290 Hercules Inc. chemicals Ashland Inc. Keystone Helicopter aviation United Technologies 42 M.A.B. Paints paint Sherwin‐Williams MBNA financial Bank of America 9 McNeil Laboratories pharmaceuticals J&J 36 Neoware electronics Hewlett‐Packard 14 PECO Energy energy Exelon 150 QVC retail Liberty Media 281
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Real Estate in Greater Philadelphia One of the Lowest Class A, Central Business District Office Rates
With an average Class A office rent of approximately $27.29/square foot, Greater Philadelphia offers companies one of the lowest rental rates among the major U.S. metropolitan markets.
• Greater Philadelphia also had one of the lower rental rates for Class B office space among the largest Metro areas in 2009q3 at $23.02/square foot.
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America’s Center for Pharmaceutic Innovation No other U.S. Life Sciences cluster can equal Greater Philadelphia's ability to support the development and commercialization of Life Sciences products. In a single region, you, as a pharmaceutical and biotechnology leader, can find what you need to bring your discoveries to market.
Greater Philadelphia is home to:
• Four times the national concentration of pharmaceutical manufacturing facilities.
• Academic research, global pharmaceuticals, mature biotech, emerging biotech and device and diagnostic companies.
• Support services and infrastructure, including financing, legal and business advice, sales and marketing expertise.
• Over 100 colleges and universities offer life science curriculums and graduates.
• Over 2,204 certificates and degrees awarded in biological and biomedical sciences in Greater Philadelphia in 2006/07.
• Funding sources (Venture Capital, state and federal, angels, non‐profits, banks).
• State‐of‐the‐art labs, incubators and science/technology centers including wet labs, clean rooms and cGMP certified facilities.
• Technology transfer, licensing and commercialization opportunities. • Close proximity to regulatory agencies in Washington, D.C. and financial
capitol, NYC. • Manufacturing capabilities. • Access to top teaching and specialized hospitals. • Top rankings in the 2009 Milken Report due to a strong blend of established
pharma, research infrastructure, world‐renowned universities, emerging startups, workforce, and support network for entrepreneurs.
The recently released 2009 Milken Report Ranks the Greater Philadelphia Life Science Cluster 2nd in the Overall Composite Index in the U.S. and 1st in the Current Impact Composite Index.
Current Impact Composite Index, 2007
Rank Metro Area Therapeutics and devices
Supporting Industries
Healthcare Industries
Composite Score
1 Greater Philadelphia
100 100 81 100
2 Greater New York 88 76 100 93
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3 Boston 99 67 61 91
4 Greater San Francisco 86 74 49 81
5 Greater Raleigh‐Durham
88 63 44 80
6 Greater Los Angeles 82 67 61 79
7 Chicago 79 67 58 76 8 Minneapolis 77 71 42 72 9 San Diego 74 51 36 67
10 Washington, D.C. 62 39 68 63
11 Seattle 55 31 50 54 The Innovation Pipeline Index
• Facilitates the industry's technological advances and production within Greater Philadelphia.
• Measures include R&D capacity, risk capital and entrepreneurial infrastructure, human capital, workforce and innovation output.
• Greater Philadelphia remains in 3rd place in the Innovation Pipeline Index, maintaining our 2005 ranking, but closing the gap with Greater San Francisco.
Innovation Pipeline Index, 2007 Rank Metro Area Composite Index 2007 1 Boston 100.0 2 Greater San Francisco 93.2 3 Greater Philadelphia 91.7 4 Greater Raleigh/Durham 87.4 5 Greater New York 85.2 6 Greater Los Angeles 81.7 7 Minneapolis 80.5 8 Seattle 80.2 9 San Diego 79.5 10 Chicago 77.0 11 Washington, D.C. 76.3
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Logistics in Greater Philadelphia When it comes to Logistics, Greater Philadelphia offers businesses a clear, competitive advantage over most other major United States metropolitan areas with three major ports, interstate highways, world‐class international airport, a large number of distribution and warehouse facilities and proximity to the large northeastern U.S. market.
A 2007 analysis by Select Greater Philadelphia (Select) shows the competitive advantages of Greater Philadelphia for the Logistics sector:
• Home to approximately 46.1 million people live within a 200‐mile radius of Center City Philadelphia with a total income of $1,344.3 billion.
• Approximately 98 million people, or 31.9% of the total U.S. population, lived within a 600‐mile radius of Center City Philadelphia in 2007.
• A connecting point for different modes of transportation — rail, highway, air, water, and pipelines.
• Well‐served by interstate highways run north‐south (e.g., I‐95, the Delaware and NJ Turnpikes) and east‐west (e.g., I‐76/ Pennsylvania Turnpike, and close proximity to I‐78 and I‐80).
• Home to one of the few major ports served by three Class 1 railroads.
• The three Class 1 railroads are Norfolk Southern, CSX Transportation, and the Canadian Pacific. All three lines are capable of accommodating double‐stack trains. The three rail lines pass along the northern boundary of o the Philadelphia Navy Yard in South Philadelphia, ending in a very large rail yard located immediately west of the Packer Avenue Marine terminal.
• The main channel of the Delaware River, currently maintained at a depth of 40', will be deepened to 45' in several years up river to just above the Ben Franklin bridge.
• Home to more than 50 major distribution and warehouse facilities located with 75 miles of the Port of Philadelphia, including a number of large facilities in southern New Jersey along the New Jersey Turnpike and along I‐78 in the Lehigh Valley (one hour driving time north).
• A 2007 study by the Philadelphia Regional Port Authority identified over 250 distribution facilities located within its immediate vicinity, including 60 major facilities.
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• The Philadelphia International Airport is served by 29 airlines that offer 590 non‐stop flights each day to 124 destinations; 60 of which are daily nonstop flights to 38 international destinations.
• Developing plans to expand the Philadelphia International Airport (PHL).
• PHL home to a major United Parcel Service (UPS) hub. • Land is available for the expansion of the region's port
facilities; one of the few major U.S. ports with expansion capacity.
• Additionally, large parcels of land are available for building distribution centers.
• Easy access to New York City — the financial capital and to Washington D.C. — the regulatory capital via Amtrak.
Expansion Activity
• Norfolk Southern Corporation has plans to expand its rail yard at the Navy Yard in South Philadelphia, PA, by 15 acres as part of an eventual 2,500‐mile, high‐speed rail route aimed at getting more freight onto trains and away from congested highways. A new Paulsboro Marine Terminal project is in the works. The new Terminal, in Gloucester County, NJ, will feature a marine terminal with three 40‐ft deep berths and a 20 ft. deep barge berth, warehouse space and an access overpass. Phase I will consist of building two 40‐ft ship berths and 100,000 sq. ft. of warehouse space and an access road and bridge.
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America’s Premier Center for Healthcare Innovation.
Greater Philadelphia has risen through the ranks to become a premier location for the design, development and manufacture of therapeutic, medical and dental devices. From brain scanners and implants to endovascular products and orthopedic devices, our region is already home to more than 2100 medical technology firms including Synthes, B. Braun, Ethicon, Teleflex Medical and Siemens Medical Solutions.
It is also an epicenter for the convergence of pharmaceuticals and medical device technologies. And home to hundreds of key opinion leaders – specialists and surgeons who put devices to trial and work each day in our area's 120 hospitals, 5 medical schools and 4 children's hospitals. And U.S. News & World Report ranks a number of them with the nation's best for 2010.
Now among the leaders in medical device design, development and manufacture.
The Greater Philadelphia Region has joined the list of prominent U.S. therapeutic and device locations, rising in stature to compete head‐to‐head with long‐renowned metro areas such as Boston, Minneapolis, Raleigh‐Durham, Chicago and New York.
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Since the Milken Institute's 2005 analysis, the region also moved from third to first in human capital, based on its life sciences academic excellence and research – far exceeding the other metro areas in bachelors, masters and Ph.D. degrees awarded in life sciences in recent years. In addition, the size of Greater Philadelphia's therapeutics and device workforce (56,300) now ranks second behind only New York, and its relative growth actually exceeds that of New York.
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Sought‐after medical device employees are in good supply. For example, Milken now ranks Greater Philadelphia second in intensity of chemical engineers and material scientists, third in biomedical and material engineers, and eighth in electro‐mechanical technicians. Key factors for any firm considering relocation or expansion.
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The region is first in funding, too. Milken reports Greater Philadelphia leading all other regions in life sciences VC investment, and third in Milken's Life Sciences Risk Capital Composite Index, and in SBIR dollars awarded to life sciences firms.
That money helps bring many innovative new products to market, with the region ranking third in patents filed, first in Phase I clinical trials, second in Phase II trials and third in Phase III and IV trials.
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Every resource in one place.
Locate or expand here and your company will be supported by a vibrant life sciences, therapeutics and medical device infrastructure so comprehensive, that the Milken Institute ranked it #1 in its 2009 Current Impact Composite Index. Greater Philadelphia has everything you need to take devices from the drawing board to the marketplace.
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Science and Chemicals in Greater Philadelphia The Chemicals Industry in Greater Philadelphia is:
• Fourth largest in employment among the major metro areas.
• Visit Leading Employers to find Science and Chemical companies in Greater Philadelphia.
• An economic driver with more than 36,000 Greater Philadelphia residents employed in the industry.
• Ranks in the top 10 U.S. metros in the number of engineering degrees conferred.
Key chemicals industry indicators:
• $81,900 – average wage in chemicals industry in Greater Philadelphia.
• $74, 100 – average wage in chemicals industry in the U.S. • Greater Philadelphia's share of total employment in the
Chemical Sector of 1.6 percent is well above the U.S. share of 0.8 percent.
Intensity of Chemical Technicians:
Rank MSA Number, 2003Per Million People 2004 Score
1 Greater New York 4,540 58.5 100.0 2 Greater Philadelphia 1,830 64.4 95.5 3 Boston 1,390 73.2 95.3 4 Greater San Francisco 1,550 54.9 92.6 5 Greater Raleigh/Durham 570 85.3 91.6 6 Chicago 1,690 39.9 89.4 7 Dallas 1,220 46.4 89.1 8 Greater Los Angeles 1,680 29.4 85.8 9 Minneapolis 630 37.7 82.6 10 San Diego 430 34.4 79.1 11 Seattle 470 30.9 78.4 Science and Chemical Fortune 1000 Companies in Greater Philadelphia: Fortune 1000 Company Rank Sunoco 60 DuPont 74
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Rohm & Haas 292 Rockwood Holdings 598 FMC 781 Hercules 849 Source: Fortune Magazine, 2007.
Top Chemical Employers in Greater Philadelphia: Employers Number of Employees DuPont 9,500 Rohm & Haas 2,050 Arkema Inc. 870 W.L. Gore 800 Hercules 650 FMC 400
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IT and Communications in Greater Philadelphia Greater Philadelphia’s information technology sector is the 6th largest in the country.
Powerhouses located in Greater Philadelphia include ACS International, CAI, Computer Science Corp, Lockheed Martin, SAP North America, Siemens and Unisys, just to name a few.
There were 17 Information Technology (IT) venture capital deals (software, computers, peripherals and IT services) in 2006 totaling $79.6 million in funding, averaging $4.68 million per deal. This allocation of the region’s venture capital, makes Greater Philadelphia a good place for young IT companies. Many of them have made it onto “fastest growing companies” lists and Philadelphia was named one of the top Cybercities by American Electronics Association in 2005.
IT & Communications Fortune 1000 Companies in the Greater Philadelphia region:
Fortune 1000 Company Rank Comcast 84 Unisys 400 SunGuard Data Systems 500 IKON Office Solutions 507 Vishay Intertechnology 724 Source: Fortune Magazine, 2007. Top IT Employers in Greater Philadelphia Number of Employees
Lockheed Martin Corporation 11,500 Comcast/Spectacor 9,301 Verizon 2,900* SAP AG 2,500 Sungard Data Systems, Inc. 2,500 Unisys Corporation 2,400 SEI Investments 1,400 L‐3 Communications 1,200
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Financial Services and Banking in Greater Philadelphia Many national banks and financial services companies have significant operations in Greater Philadelphia resulting in the region’s location quotient* for finance and insurance being the second highest in the U.S. at 1.3.
According to the Quarterly Census of Employment and Wages, the Financial Activities sector accounted for 9.5 percent of the region's total employment in 2005, well above the U.S. share of 7.3 percent.
Other financial services factors:
• $1.6 trillion in mutual fund assets under management • 234,400 – workers were employed in financial services in
2005
Financial Services and Banking Fortune 1000 Companies in the Greater Philadelphia region:
Fortune 1000 Company Rank Cigna 139 Lincoln National 277 Sovereign Bancorp 479 Commerce Bancorp 669
Sources: Fortune Magazine, 2007.