Why is it important that the business community supports inclusive growth and job creation for all of Philadelphia’s neighborhoods?
The North Broad Renaissance (NBR) recently released the 2020 State of North Broad report. Done in partnership with Econsult Solutions, this report provides insight on the current and future state of North Broad Street and the opportunities that exist in revitalizing this corridor.
This year, the 2020 State of North Broad report indicates that of the 51 proposed, completed or under construction development projects, more than half include commercial properties. That means a lot of businesses and jobs are forecasted to come on North Broad. This is important because the introduction of new commercial, retail, entertainment, and recreational space results in both expanded housing options and access to a growing plurality of stores, employers, entertainment, and recreation. More importantly, the redevelopment of previously vacant and decaying buildings and parcels throughout a community positively affects the quality of life and property value and can conserve resources and preserve the history and diversity that exists in many communities across Philadelphia.
Businesses also benefit from enhanced access to updated space, proximity to a qualified, diverse workforce, and increased visitor spending driven by the attraction of new businesses, residents, and employers along the corridor. As has been the case throughout the city, the economic revitalization of North Broad Street will ultimately be driven by growth and development.
The key is to ensure that this revitalization is inclusive by engaging all community stakeholders, promoting job growth, and seeking overall improvement of quality of life in the area that’s being developed. By identifying powerful public/private partnerships early in the development process, organizations like the North Broad Renaissance can work with the development community towards attracting businesses that support the current environment, create excitement and employment opportunities for current residents, and attract visitors from across the region.
North Broad Reniassance is a member of the Chamber’s Roadmap for Growth Action Team, a group 110+ Chamber members and partners united to engage with a broad range of civic and neighborhood organizations in the development and execution of policies and initiatives, known as the PHL Neighborhood Growth Project, that enhance the economy, encourage civic engagement, and support an efficient and impactful government in order to lift and improve Philadelphia’s economic and civic life.
Transparency in Local Government: Putting People First at City Hall
Wednesday, January 22, 2020 | National Constitution Center
At this Roadmap for Growth issue forum, hear from speakers experienced in making government more transparent at the local, state, and federal levels and discuss how these stories can apply to Philadelphia as we usher in a new Mayoral and Council term.