January 31, 2017 (PHILADELPHIA, PA) – Greater Philadelphia’s middle market companies — those with revenues between $10 million and $1 billion — are critical to growing the region’s economy. They currently represent 27 percent of total regional employment, despite accounting for only approximately one percent of companies. A recent study explores the middle market’s impact on the region’s economy and examines the key findings that distinguish the potential for significant job growth middle market companies can create.

The report, “Mobilizing Greater Philadelphia’s Middle Market”, identifies six key themes that could encourage middle market growth in the region: STEM and front-line talent, sustaining growth in closely held businesses, access to capital needed for growth, business climate, transportation infrastructure and industry hubs and startup pipeline.

Although middle market companies are often overlooked, they have a combined revenue of over $180 billion in Greater Philadelphia alone, and publicly traded middle market companies in the 11 counties have outperformed their larger peers. These companies have revenue growth estimated at 4.8 percentage points higher than the national middle market projection, but they will only achieve that if they receive the support needed from state and local governments, colleges and universities, and economic development organizations.

The report concludes that in order to increase high growth rates in Greater Philadelphia’s economy, middle market companies must be supported through:

  • Education of middle market executives on best practices for accessing capital and planning for transitions of leadership
  • Mentorship opportunities between companies and peer institutions in other regions to provide industry-specific input on key strategic decisions
  • Marketing the region to potential employees, entrepreneurs, and investors, highligh