Each of Greater Philadelphia’s 11 counties are special, and thanks to new, dynamic video from Koi-Fly, a West Chester-based production company, we have a fun, informative video that captures the spirit of our collective community. Created exclusively for Select Greater Philadelphia and our Chamber of Commerce for Greater Philadelphia, the video highlights fun facts about each county, including which county is home to the largest production of mushrooms in the country, and the city that is ranked as one of the best places to start a small business.
The Central Business District – Market East, Market West, University City, and the Navy Yard – are set to deliver a massive amount of construction next year.
JLL Philadelphia’s research found that there will be 8.7 million square feet of development created in 2018.
Nearly 30 percent of construction will come from office space being developed, such as the Comcast Technology Center, One Franklin, and 3675 Market, according to a Curbed Philly article. Almost 80 percent of the 8.7 million square feet will be new construction.
2018 will see almost triple the amount of development compared to 2017’s 3 million square feet, a sign that Philadelphia’s economy continues to grow.
Buccini/Pollin Group announced their most recent development project: a new facility for the Philadelphia 76ers basketball team.
The building, which will be 140 square feet, is set to be built on the 8.9 acres of land near the Christiana River Bridge, which is currently under construction.
“This announcement by the 76ers organization confirms again that Wilmington is a great place for companies to invest, expand, and grow,” said Governor John Carney in a Delaware Business Now article. “… Importantly, this facility will create jobs, expand opportunities for kids in Wilmington to participate in sports activities, and attract even more visitors to our great state. Thank you to the 76ers organization and the Buccini/Pollin Group for their commitment to Delaware, and their continued partnership.”
The new facility, which will have retail and office space, will be worth $26 million in investment and is set to break ground in the first quarter of 2018.
The Port of Philadelphia (PhilaPort) announced their recent purchase of two super post-Panamax container cranes, bringing the total to four cranes purchased by the port in 2017 for the Packer Avenue Marine Terminal in South Philadelphia.
“Each step in the development of PhilaPort is another important move in strengthening the economic success of the entire commonwealth,” said Governor Tom Wolf in a press release. “My administration is proud to partner with our port regions to invest in our infrastructure, bring key jobs to the region, and keep Pennsylvania’s economy competitive on a global scale.”
With these new purchases, PhilaPort is currently on track to set a record in total containers handled in a year.
The Port of Philadelphia is a huge economic engine in the Greater Philadelphia region; the acquisition of these two cranes will both grow the region’s economy and uphold its position as a top emerging global logistics hub.
Penn Medicine and Virtua announced their plans to build a $35 million proton facility on Virtua Voorhees’ campus in southern New Jersey.
“Penn has established itself as a global leader in proton therapy both for the treatment of patients and the training of other medical professionals, and now we’re excited to spread that expertise to residents of South Jersey,” said Ralph Muller, CEO of the University of Pennsylvania Health System in a press release. “In partnership with Virtua, this center will usher in a new era of cancer treatment in South Jersey and give patients access to cutting edge care without having to come to Pennsylvania.”
The new center will allow patients to receive proton treatment, a less invasive form of cancer treatment than chemotherapy.
The center, which is expected to be completed by 2020, will be the first and only one of its kind in South Jersey.
These kinds of developments are what make the Greater Philadelphia region a global leader in life sciences and health care treatment.
Food company Chelten House Products Inc., which distributes organic dressings and sauces, is expanding their current office space and relocating their corporate headquarters to Gloucester County, New Jersey.
The company will be moving to a 209,437-square-foot building with the capacity to expand to up to 400,000 square feet.
While the Chelten House headquarters is relocating to Logan, New Jersey, it will maintain its presence at its current location in Swedesboro, New Jersey.
According to the Philadelphia Business Journal article, South Jersey is an attractive place for food manufacturers because of its proximity to the Pennsylvania and New Jersey Turnpikes, I-295, the Blue Route, and the Port of Camden.
The 11 counties of Greater Philadelphia as a whole are globally connected through the region’s infrastructure, the extensive supply chain, and distribution networks. With its highly skilled workforce and access to low-cost energy, the region is a top destination for food manufacturers.
Doylestown Health Foundation, located in Bucks County, Pennsylvania, received two gifts of $5 million in order to support expansion projects at the hospital.
The donors, Alex and Patricia Gorsky and Richard and Angela Clark, were co-leaders of a fundraising campaign for the health system.
“Four generations of our family have been cared for at Doylestown Hospital — from the births of our grandchildren to the specialized geriatric services provided to our parents at Pine Run’s Health Center,” the Clarks said in a Philadelphia Business Journal article. “Through our outstanding personal patient experiences to the expert, world-class care we have witnessed for our family and received ourselves, we are proud to give back to Doylestown Health. This hospital is a gem in our community and we want it to thrive for future generations.”
There are numerous projects already underway, including a heart and vascular care center and community center. There will also be a future fundraising campaign for upgraded operating suites and a new outpatient center.
Doylestown Health is one 15 major health systems in the Greater Philadelphia region that collectively have over 100 hospitals throughout the 11 counties.
The University of Delaware’s STAR Campus started construction on their most recent addition, a $156 million biopharmaceutical institute.
The structure, which will be six stories and 200,000 square feet, is set to be completed by early 2020. Part of the building will be dedicated to the National Institute of Biopharmaceutical Research.
According to a Delaware Business Now article, the institute will be funded through a $70 million federal grant along with a cohort of 150 companies, educational institutions, and research centers.
The STAR Campus, or Science, Technology and Advanced Research Campus was once a Chrysler assembly plant that has since transformed into a 272-acre flourishing hub of innovation.
Equus Capital Partners recently bought the 6.7-acre parking lot that sits next to Lansdale’s SEPTA Station, with plans to construct a 181 unit, 15,500 square foot multifamily complex.
A subsidiary of Equus, Madison Apartment Group, will manage the property, according to Bis Now Philadelphia. The new complex will include a fitness center, an outdoor pool, and a package delivery room.
Equus’s purchase was made in order to capitalize on a growing trend of transit-oriented development in rural and suburban real estate that is aimed at being less reliant on cars and more reliant on public transportation.
The Daniel M. DiLella Center for Real Estate at the Villanova School of Business announced that they are creating a real estate fund that will be run by students, with a full launch planned for Fall 2018.
The funding will be entirely donor based and operate as a limited liability partnership. The fund has raised over $650,000 from alumni so far.
“This is taking it to the next level,” said Director of Daniel M. DiLella Center for Real Estate’s Jessica Taylor in a Philadelphia Business Journal article. “They’re going to truly understand the full investment process, what it takes to look for a good deal, invest in it, monitor it and understand when things go wrong … There’s not a better way to learn it than to do it.”
The fund is intended to prepare students for real-world investment situations, providing them with hands-on experience.
Select Greater Philadelphia (Select) is the business attraction organization for northern Delaware, southern New Jersey, and southeastern Pennsylvania. A non-profit entity, Select highlights Greater Philadelphia’s unique business assets to national and global audiences with the ultimate goal of growing the economic vibrancy of our collective community through attracting new businesses and new jobs to our 11-county region. Select assists companies interested in locating in Greater Philadelphia by providing resources, detailed information, and connections.