The Greater Philadelphia region’s connected, collaborative, accessible environment continues to cultivate an ecosystem where businesses grow, talent succeeds, and discovery thrives. These attributes of our 11-county region have resulted in numerous accolades this past year, which the Chamber amplifies to international site selectors, stakeholders, and media in person at industry conferences and tradeshows and via the Select Greater Philadelphia (Select) website, newsletters, and social media channels. 

In celebration of the new year, here’s a roundup of some of the rankings that the Greater Philadelphia region has earned in 2023. 

Bestplaces.net: Greater Philadelphia has a Better Cost of Living.

Factoring in housing and other living costs, Greater Philadelphia is 38% less expensive than New York City, 32% less than Boston, and 30% less than Washington, D.C. – while boasting an excellent quality of life. 

Biden-Harris Administration: One of 31 Regional Technology and Innovation Hubs (Tech Hubs) Nationwide.

“With expertise in cell and gene therapy, our rank as a top life sciences market, a deep scientific ecosystem, and a strong and diverse talent pool, our region is uniquely suited to lead in the precision medicine space. Thanks to the leadership of Ben Franklin Technology Partners, the Greater Philadelphia Region Precision Medicine Tech Hub will create dynamic solutions and drive economic growth,” Chellie Cameron, President and Chief Executive Officer, the Chamber, said following the designation announcement. 

Biden-Harris Administration: One of Seven Regional Clean Energy Hubs Nationwide.

The Mid-Atlantic Clean Hydrogen Hub (MACH2), which includes Pennsylvania, Delaware, and New Jersey, will receive $750M in Bipartisan Infrastructure Law funding to drive clean manufacturing and jobs and support a clean energy future. 

Campus Philly: Philadelphia Momentum Report – Greater Philadelphia #1 in Growth of 25- to 34-year-old College-educated People.

A report released by Campus Philly and amplified by the Chamber showed that Philadelphia is leading the nation in the growth of 25- to 34-year-old college-educated people and retaining 50% of the region’s college graduates. The report, which reflects research conducted by Econsult Solutions, Inc., was led by Campus Philly in partnership with the Chamber, Philadelphia Works, and the City of Philadelphia Commerce Department. This Chamber-produced one-pager makes the news easily shareable across your networks. 

CBRE: Greater Philadelphia #6 U.S. Market for Life Sciences Research Talent.

CBRE identified that Philadelphia has the sixth most life sciences researchers and continues to achieve above-average growth rates. The total number of researchers in the field increased by 18% between 2017 and 2022. 

CBRE: 2023 U.S. Life Sciences Outlook and Philadelphia Life Sciences Reports –  #8 for life sciences jobs, #8 for NIH funding, #8 for life sciences laboratory/R&D inventory, #4 in square feet under construction, #8 for biomanufacturing capacity.

In compiling these rankings, BioBuzz’s Mark Terry noted, “All the data pulled into these two reports confirm that the Philadelphia region is a strong and growing center of the life sciences, with plenty of new space for companies being built and leasing at reasonable rates compared to the rest of the country. It is also a center for biomanufacturing innovation, which can support the growth of its influential R&D capabilities.” 

Econsult Solutions, Inc. (ESI): The State of Cell and Gene Therapy in the Greater Philadelphia Region – Greater Philadelphia #2 Among 14 Cell and Gene Therapy Hubs.

When amplifying the region’s positive life sciences rankings, the Chamber encourages you also to include the study we announced in September 2022 comparing 14 U.S. cell and gene therapy hubs. The region ranked #2 among U.S. locations when comparing cell and gene therapy hubs in research infrastructure, human capital innovation output, commercial activity, and value proposition. 

PACT: Philadelphia Venture Report 2022 – Philadelphia #5 nationally in closed deals.

Dean Miller, President and CEO, PACT, said of the findings, “From cell and gene therapy to enterprise technology to the growing consumer goods sector, Philadelphia has a solid foundation of entrepreneurial activity and a community poised to support its growth!” The report highlights that Philadelphia cracked the top five in nationally closed deals – an accomplishment that advances the region’s number six ranking from the previous year. 

Startup Genome: The Global Startup Ecosystem Report 2023 – Greater Philadelphia #27 Global Ecosystem for Growing Companies.

The region ranked in Startup Genome’s Top 30 Global Startup Ecosystem Ranking for the second year in a row. This is up 16 spots from the past three years. Startup Genome evaluated ecosystems’ performance, funding, connectedness, market research, knowledge, talent, and experience to formulate the ranking. 

There’s More Work Ahead

The Chamber is grateful to our members, stakeholders, and partners who continue to join in our work as we realize our Chamber 2028 vision: the Greater Philadelphia region is a top global destination for business and a leader in inclusive growth. We ask you to continue amplifying the region’s positive stories among your professional networks and prospects. 

For more stories about companies and developments that are driving the economy in the Greater Philadelphia region, contact James Medaglio, Director, Business Attraction and Expansion, at jmedaglio@chamberphl.com.