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After decades of job loss, Philadelphia has enjoyed nine straight years of job growth that accelerated in 2014. Despite the recent upturn however, the city has rebounded more slowly than most peer cities.
Center City’s commercial core is experiencing a sustained process of recovery, with new businesses opening and existing retailers moving to new, often larger locations, according to the just-released CCD/CPDC Center City Retail Update. In the first quarter of 2022, taxable retail sales in the core of Center City reached 94% of 2019 levels and restaurant sales reached 74% of 2019 levels.
Come one, come all, July 20-24, to a summertime staple – the county fair, right at Dilworth Park at City Hall!
Center City District offers ice skating, outdoor dining and cold weather fun through February 2022! Beginning this November, visitors of all ages can enjoy a dramatic seasonal transformation as fountains are replaced by the Rothman Orthopaedics Ice Rink and reindeer topiaries take up winter residence on the Greenfield Lawn. In addition, a full lineup of free entertainment is planned, including the Deck the Hall Light Show, the Made in Philadelphia Holiday Market and Rothman Orthopaedics Cabin.
Recovery is progressing by nearly all measures: employment, hotel occupancy, retail and restaurant sales, transit ridership, pedestrian volumes and city tax collections are all up. Job recovery is slow but steady and most significantly, Philadelphia’s unemployment rate fell in October, to the lowest point since 1990.
SEPTA is working day and night to keep their riders and staff safe and healthy, whether they’re taking Regional Rail downtown or making their way around town on our subways, buses or trolleys.
On September 24, 2019, CPDC released the Developments report and hosted a panel of business leaders to discuss their projects- one office, one retail/entertainment and one residential - and what these projects tell us about current industry trends, the strength of the market and how best to sustain local momentum.