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6abc featured Center City District Community Service Representative and lifelong Philadelphian Moses Pierce on February 25, 2021 on their Art of Aging program.
Citywide employment has fully rebounded from the spring 2020 shutdown with 2.4% more jobs in October 2023 than in February 2020. But there is a difference between the return of workers to payrolls and the return of full vitality to Center City. The report suggests ways to accelerate the job growth and business formation rates in Philadelphia.
This new CCD/CPDC report analyzes the housing sector recovery in Philadelphia. While the pandemic impaired many parts of Philadelphia’s economy, both Greater Center City and citywide housing markets showed extraordinary resilience in the last year, buoyed by historically low interest rates and continued interest in city living.
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.
Learn about new new retail business openings and read why Ravid Butz, owner of PhotoLounge, loves doing business in Center City and in 2021 recommitted to the city by expanding his shop’s footprint to a multilevel building.
This report compares Philadelphia to five other urban areas in United States. It documents how Philadelphia lags in firms that sell services nationally and globally, but suggests that if we replicate the success achieved by others, we will grow more family-sustaining jobs and a prosperous network of small, local businesses.