Select Greater Philadelphia’s annual regional report, released late last week, is titled “Collaboration Strengthens the Fabric of our Region.” Indeed, the non-profit economic development marketing organization has plenty of examples to cite, like DreamIt Ventures, which started in 2008 and brings together companies, governments, and non-profits to help entrepreneurs start and successfully grow new firms.
“The Greater Philadelphia region’s economy fared better than the U.S. as a whole because of the deep collaboration and innovation throughout the tri-state community of Northern Delaware, Southern New Jersey and Southeastern Pennsylvania,” says Bryan Evans, Director of Public Relations and Publications for Select Greater Philadelphia.
Greater Philadelphia maintained its status as unofficial capital of the pharmaceutical industry, ranking ahead of all U.S. metro areas in life science economic impact. The region’s evolution from a basic to high-tech manufacturing hub is evidenced by a proliferation of 100 companies engaged in nanotechnology business activities, making the region a national leader.
There’s also collaboration in the form of the Nanotechnology Institute, a consortium that includes the University of Pennsylvania, Drexel University and Ben Franklin Technology Partners. The body incorporates 12 academic research institutions and stimulates nanotech research by establishing a common framework of technology development, intellectual property, management and commercialization.
Other key findings include the region’s educational community producing an $11 billion increase in the region’s total labor income, while the region boasts the nation’s seventh-highest gross metropolitan product.
“This report is encouraging because it showcases how a region can transform itself and grow even in the midst of challenging economic times,” says Evans.
Source: Bryan Evans, Select Greater Philadelphia
Writer: Joe Petrucci
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