Greater Philadelphia’s Southeastern Pa. leading economic growth

Greater Philadelphia’s Southeastern Pa. leading economic growth

Pennsylvania has long been known as the “Keystone State” because of its central location within the original 13 colonies. More than its geographical location was the vital role it played in both holding together and driving forward the newly conceived union that has evolved into the United States of America that we know today.

The Greater Philadelphia region, like the state of Pennsylvania, plays a central role in driving the growth and prosperity of the Commonwealth forward. A recent study on the Southeastern Pa. region — Bucks, Chester, Delaware, Montgomery and Philadelphia counties — performed by the Chamber of Commerce for Greater Philadelphia, revealed that these five counties are home to a diverse and large economy that serves as an economic engine and tax base for the state.

Southeastern Pa. serves as the greatest area of growth in the Commonwealth within the past few years; the five counties represent 32 percent of all Pennsylvania residents and 50 percent of all state population growth between 2010 -2015.

In 2015, businesses located in Southeastern Pa. generated an estimated $282.2 billion in revenue totaling 41.8 percent of Pennsylvania’s total gross product. These businesses represent just 33 percent of all establishments while generating 41 percent of the state’s total private business payrolls.

Additionally, approximately 60 percent of all new jobs created in the state between 2013 and 2016 were in Southeastern Pa.; this region is a net-contributor to the state’s General Fund, generating an estimated 39 percent of total revenues.

Southeastern Pa. represents the growth and prosperity of the Greater Philadelphia region as well as the Commonwealth as a whole. Here at the Chamber of Commerce for Greater Philadelphia, we are working together to keep this momentum going both regional and state-wide.

The Chamber’s action teams, focused on the civic, energy, education and talent, healthcare, and middle market sectors, are designed to spur growth and innovation within their designated industries. These focused cohorts of outcome-oriented, industry leaders collaborate on substantive work that directly impacts growth in the Greater Philadelphia community.

If you would like to learn more about how the Chamber is leading in the growth of Southeastern Pa., the Greater Philadelphia region and the state, contact me at [email protected].

Rob Wonderling is president and CEO of the Chamber of Commerce for Greater Philadelphia.