Today, Greater Philadelphia Chamber of Commerce President and CEO Rob Wonderling called Comcast’s announcement to build a world-class media, technology and innovation center right in the heart of the city a transformative time for our region.

“Today’s announcement further strengthens Comcast’s outstanding commitment to the Greater Philadelphia region. We are fortunate to have in Comcast an extraordinary business and civic partner helping not only advance innovation and technology, but the economic growth of the city and state,” said Mr. Wonderling.

The expansion will create thousands of jobs and advance economic activity throughout the region. Specifically, the proposed $1.2 billion 59-story, 1,121-foot tower will neighbor Comcast Center, Comcast Corporation’s global headquarters, and become a dedicated home for the company’s growing workforce of technologists, engineers, and software architects. The facility will also create a media center in the heart of the city by becoming home to the operations of local broadcast television stations NBC 10/WCAU and Telemundo 62/WWSI and offer space for local technology startups.

According to Comcast, the Innovation and Technology Center will generate a staggering amount of upfront economic activity during the project’s construction period alone, including $2.75 billion in economic activity within the Commonwealth and the creation of more than 20,000 temporary jobs. The estimated direct and indirect ongoing impact of the Comcast Innovation and Technology Center is also remarkable, creating almost 4,000 new permanent jobs within the Commonwealth and 2,800 new permanent jobs within the City.

As a longtime member of the Greater Philadelphia Chamber of Commerce, Comcast’s Executive Vice President David L. Cohen currently serves on the Executive Committee and as Board Chair from 2008 to 2010.