Center City companies benefit from all the advantages of doing business in a dense, accessible downtown at a fraction of the cost of other peer cities.
Businesses choosing to locate in Center City benefit from the advantages of a dense, accessible, urban employment node, but at a fraction of the cost of other peer northeastern cities. Companies in downtown Philadelphia have access to a highly skilled and educated workforce, but benefit from lower labor and occupancy costs. Employees of Center City companies benefit from having an exceptional quality of life at a much lower cost of living. A Center City homeowner earning $92,100 (the average wage of an office worker in Philadelphia) would need to earn 25% more in Boston, 26% more in Washington, D.C., and 92% more in Manhattan to enjoy the same standard of living.
The Philadelphia Jobs Growth Coalition, comprised of major employers, developers and small businesses and a broad cross-section of labor unions, is moving forward successfully with state legislation that will significantly reduce the City’s wage and business taxes beginning in 2018. Now is a perfect time to locate your business in Center City and take advantage of Philadelphia’s business-friendly environment.