Quick Facts About Greater Philadelphia
Greater Philadelphia is an 11-county region that encompasses northern Delaware, southern New Jersey, and southeastern Pennsylvania.
Our region’s history is built on hard work and invention. And our future is brighter than ever. There has never been a better time to establish and grow a business, and to live, work, create, and innovate in Greater Philadelphia. We’re a thriving metropolitan area that offers all the must-haves for success: unparalleled global access, a world-class talent pool, an attractive cost of doing business, a huge market of customers, and an incredible quality of life.
Regional Snapshot
- 1st lowest office rental rates among top metros
- 3rd largest metro in the Northeast, with $485 billion in Gross Regional Product
- 6th largest population, with 6.4 million people
- 7th largest workforce of just over 3.2 million, including highly skilled talent in key industries: life sciences, energy and manufacturing, technology, financial services, and more
Strategic Location
- Strategically located between New York City, the nation’s financial hub, and Washington, D.C., the legislative and regulatory center of the U.S.
- At the heart of one of the largest economic regions in the world—the total gross domestic product within a 200-mile radius of our region would rank 4th in the world if considered a single national economy.
- 40% of the U.S. population is within a day’s drive, and 60% of the U.S. and Canadian populations are accessible via a 2-hour flight.
Access To Market
- Two Class 1 freight railways
- Three major shipping ports along the Delaware River
- Third busiest Amtrak station in the U.S.
- Five international airports within a 90-minute drive
- 100+ interstate highway interchanges
Talented Workforce
- OVER 140 COLLEGES, UNIVERSITIES, AND VOCATIONAL SCHOOLS IN THE REGION, with over 90,000 DEGREES AWARDED ANNUALLY
- The #2 Business School in the U.S., according to U.S. New & World Report: University of Pennsylvania (Wharton)
- Two of the top 20 colleges and universities in the world, according to Quacquarelli Symond: Princeton University and University of Pennsylvania
- Three of the top 30 liberal arts colleges in the U.S.: Swarthmore Colleges, Haverford College, and Bryn Mawr College.
Innovation and Entrepreneurship
- Over the past 5 years, venture capital funding in Greater Philadelphia’s Health Care and Internet sectors totaled $4.7 billion, led by companies in biotechnology, drug development, internet and software, among others
- Philadelphia: 6th in the nation for growth in graduates with tech degrees in the last five years. (CBRE, 2020 Tech Talent Analyzer)
- Trenton: Top 20 Best Tech Cities for IT Jobs (CompTIA, Tech Town Index 2020)
- Wilmington: Top 50 cities to start a small business (Go.Verizon, The Best Small Cities to Start a Small Business)
Quality of Life
- Compared to Boston, New York City and Washington, D.C., our region has a LOWER COST OF DOING BUSINESS, LOWER OFFICE RENTAL RATES, LOWER COST OF LABOR, AND MORE AFFORDABLE HOUSING
- PHILADELPHIA TOP 15 IN NATION FOR BEST CITIES FOR WOMEN IN THE TECHNOLOGY SECTOR, based on gender pay gap, income after housing costs, percent of workforce and employment growth
- 54% OF 2010-2014 ALUMNI CHOSE TO STAY HERE TO ESTABLISH AND GROW THEIR CAREER AND THEIR FAMILIES—compare that to the Greater Boston area, where recent alumni retention is only 42%
- Greater Philadelphia has roughly 2,700 K-12 schools including some of the TOP-RATED HIGH SCHOOLS IN THE NATION: JULIA R. MASTERMAN SECONDARY SCHOOL (#18) AND DOWNINGTOWN STEM ACADEMY (#34); CHARTER SCHOOL OF WILMINGTON (#74)
