Economic Overview

A Large, Influential Market with World-Class Assets and Access

gray_striped_squareorange_circlelight_blue_circleEconomic Overviewlight_green_rectangle

Generating more than $450 billion in gross regional product, Greater Philadelphia exerts global influence as one of the nation’s biggest markets. Our 11-county region, spread across southeastern Pennsylvania, southern New Jersey, and northern Delaware, is within a day’s drive of 40% of the U.S. population. A short train ride can take you to major metros like New York City or Washington, D.C. This connectivity confers advantages to companies in every industry, from life sciences and financial services to technology and manufacturing. Our 3.3 million-strong workforce features a steady stream of diverse talent at all levels of experience, including highly skilled college graduates from world-class universities. Indeed, Greater Philadelphia’s low cost of living makes it an attractive destination for talent. The incredible diversity of our community also contributes to the one-of-a-kind experience of working and living in our region.

Top: Philadelphia offers many outdoor venues for runners, cyclists, and walkers, including the Schuylkill River Trail, which spans over 75 miles across five counties. Photo by Elevated Angles for VISIT PHILADELPHIA®. Below slideshow images courtesy of, in part: M. Edlow for GPTMC and University of Pennsylvania Flickr.

James Medaglio, Director, Business Attraction & Expansion

James Medaglio, Director, Business Attraction & Expansion

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#1 Lowest Office Rental Rates Among Top 10 Largest U.S. Metros
#1 Lowest Office Rental Rates Among Top 10 Largest U.S. Metros
#1
Lowest Office Rental Rates Among Top 10 Largest U.S. Metros
–Jones Lang LaSalle, 2021
#1 Emerging Startup Ecosystem in the U.S.
#1 Emerging Startup Ecosystem in the U.S.
#1
Emerging Startup Ecosystem in the U.S.
–Startup Genome, 2020
#2 Largest City on the East Coast
#2 Largest City on the East Coast
#2
Largest City on the East Coast
–Philadelphia CVB, 2018
#2 Best Business School in the U.S. (Wharton School, University of Pennsylvania)
#2 Best Business School in the U.S. (Wharton School, University of Pennsylvania)
#2
Best Business School in the U.S. (Wharton School, University of Pennsylvania)
–U.S. News & World Report, 2022
#4 Largest Media Market in the U.S.
#4 Largest Media Market in the U.S.
#4
Largest Media Market in the U.S.
–Philadelphia CVB, 2018
#6 Greatest Percent Growth in Graduates with Tech Degrees in Last Five Years
#6 Greatest Growth in Graduates with Tech Degrees in the Last Five Years
#6
Greatest Percent Growth in Graduates with Tech Degrees in Last Five Years
–CBRE, 2020
#7 Largest Regional Population of 6.5 Million People
#7 Largest Regional Population of 6.5 Million People
#7
Largest Regional Population of 6.5 Million People
–U.S. Census, 2020
#7 Largest Workforce of 3.3 Million
#7 Largest Workforce of 3.3 Million
#7
Largest Workforce of 3.3 Million
–Bureau of Labor Statistics, 2019
$453 Billion Gross Metropolitan Product
$453 Billion Gross Metropolitan Product
$453 Billion
Gross Metropolitan Product
–Oxford Economics, 2021
45 Million People Living Within 200 Miles
45 Million People Living Within 200 Miles
45 Million
People Living Within 200 Miles
–Philadelphia CVB, 2018
60% Of the U.S. Population Living Within a Two-Hour Flight
60% Of the U.S. Population Living Within a Two-Hour Flight
60%
Of the U.S. Population Living Within a Two-Hour Flight
–Philadelphia CVB, 2018
Top 20 Global City
Top 20 Global City
Top 20
Global City
–Jones Lang LaSalle, 2019
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