Transformations 2017: Here's what to watch for in Greater Philadelphia

January 23, 2017

Craig Ey
Editor-in-Chief, Philadelphia Business Journal

Greater Philadelphia is on a roll.

After two consecutive years in the national spotlight – for the pope’s visit in 2105 and the Democratic National Convention last year – the city and surrounding suburbs are poised for a period of advancement.

There are signs all across the region. In Center City, the cranes are in the air as new buildings, including the much-anticipated second Comcast tower, are taking shape. The western suburbs, including regional star King of Prussia, continue to be transformed into perhaps the most important business center. And long-battered Camden is becoming a major employment center and is starting to draw comparisons to Brooklyn’s now decade-old renaissance.

But severe challenges remain. While on an upswing, Greater Philadelphia’s economy has not grown as fast as its East Coast competitors – Washington, Baltimore, New York and Boston. Taxes and regulations continue to hamper job growth in the city and in New Jersey. Delaware is waking up to an economic earthquake as the state’s signature company – DuPont – merges with Dow Chemical.

Infrastructure remains a concern, as bridges and highways continue to age. One of the region’s best assets – the SEPTA transit system – has been beset by delays, a strike and a shortage of rail cars because of a structural problem.

And poverty and crime – as well as our undeserved reputation as a tough and unwelcoming place – continue to be major challenges.

In short, we are at a crossroads. Philadelphia’s potential as a city and a metropolitan region is boundless – if we take our problems seriously and implement solutions. Boston did it in the early 1980s. New York did it in the 1990s.

We can excel, in 2017 and beyond – if we dare to dream of the possibilities. What follows here are the projects, events, innovations and people reshaping Greater Philadelphia. We hope you enjoy it.

This article requires subscription. The feature, Transformations: Pennovation Center effect, appears on slide #6.

Transformations: Pennovation Center effect

January 19, 2017

The University of Pennsylvania celebrated the grand opening of its 58,000 square-foot Pennovation Center in October, but the anchor building of the 23-acre Pennovation Works campus began slowly buzzing late in the summer as it filled up with biotech startups, Penn’s robotic engineers, a 3D printing lab and entrepreneurs occupying 200 seats in co-working spaces managed by Benjamin’s Desk.

Why it’s transformational: Penn’s goal with the Pennovation Center isn’t just to capitalize on the innovation-buzz on city campuses, it’s to connect with the commercial sector to leverage the $1.2 billion worth of research that happens at Penn each year and ensure its knowledge value translates into real-world impacts. If that comes to pass, Philadelphia startups, Penn and the population at large stand to benefit.

The players: Penn’s vice president of real estate services Anne Papageorge, Penn’s Vice Provost for Research Dawn Donnell, Penn President Amy Gutmann.

This article requires subscription.