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Chamber Members Gain Regional Insights

Posted Tuesday, June 20th, 2017

Programs & Events, CEO Council for Growth, Action Teams, Roadmap for Growth

The Chamber’s Executive Forum: Insights into the Region is a four-part series designed exclusively for senior executives and CEOs, allowing for strategic networking with other business leaders in the Greater Philadelphia area. Each program offers valuable insights into the most current and relevant social, economic or political trends happening in our region and provides guidance as to how they will impact our business community.

Throughout FY17, attendees heard from numerous speakers touching on a variety of topics. Check out some key takeaways from each discussion below.

June 16, 2017: The Revitalization of the Market East Corridor

Stakeholders directly involved with the redevelopment of the Market East District, including Daniel Killinger, Managing Director, Development, National Real Estate Development, John Poplawski, Senior Director, Site Acquisition and Development, Wawa, and  Tom Weitzel, Managing Director, JLL, shared with attendees how the renovated streetscape, retail & residential expansion and a new look will impact both the local and regional economies.

Key takeaways:

  • After the 2008 recession, Philadelphia’s vacancy rate was hovering at about 15%. In 2015, that number shot down to 8% and currently rests at 10.8%
  • Over $1 billion is invested in the Market East revitalization.
  • National Real Estate Development has made four real estate investments in Philadelphia to date, their latest project being East Market, a $600 million mixed-use effort currently under construction on Market Street between 11th and 12th streets
    • This project includes retail, restaurants, two residential towers, an office building, and parking garage
  • Wawa has chosen the new building at 12th and Market to open another anchor location in Center City
  • These multi-use spaces attract people to live, work, and play as well as connect the different neighborhoods of the city

April 3, 2017: Positioning Philadelphia to Lead in the Innovation Economy

The Chamber’s Chairman, and President of Drexel University, John A. Fry, presented the challenges and opportunities that the Philadelphia region faces in the race to become an emerging global city according to a recent study undertaken by the Brookings Institute.

Key takeaways:

  • The world is developing 12 breakthrough technologies: mobile internet, automation, internet of things, cloud technology, advanced robotics, autonomous vehicles, genomics, energy storage, 3D printing, advanced materials, advanced oil and gas, and renewable energy
  • 25 to 35 cities in the world are competing against each other to develop these technologies. If a city becomes the platform for these technologies, it will get all of the advantages that come with it
  • The Philadelphia metropolitan area has several competitive advantages and economic strengths with University City and Center City as the platforms for growth, including:
    • High concentration in pharmaceuticals
    • R&D services
    • Communications equipment
    • Management consulting
    • Basic chemicals
  • City leaders need to think about ways in which we can work together to reduce our poverty rate and grow our serial entrepreneurship. This will put us at the forefront of emerging technologies and propel Philadelphia into the future

December 20, 2016: The Future of Sustainable Journalism

Terry Egger, Publisher & CEO, Philadelphia Media Network, Jim Friedlich, Executive Director & CEO, Institute for Journalism in New Media, and Pedro Ramos, President & CEO, Philadelphia Foundation gathered to discuss the sustainability of journalism and what the evolving field means for the future of news in Philadelphia.

Key takeaways:

  • The journalism industry began to fail between 1994-95 with the conception of the Internet age, which took valuable information and gave it away for free, allowing others to take content
  • In January 2016, the Institute of Journalism and New Media, a nonprofit subsidiary of the Philadelphia Media Network, was founded to create a sustainable business model that supported the future of journalism around the country and the world
  • The Institute exists to do three things:
    • Help “heritage” newspapers, such as the Inquirer, transition into the digital age of journalism
    • Establish new forms of news media into journalism so that it caters to old and young generations alike
    • Refine and invest in deep investigative journalism (pieces that take six months or more to develop and write) in order to produce the highest quality of journalism possible

September 28, 2016: Fall 2016 Economic Projection

Steven Wieting, Global Chief Strategist and Managing Director, Citi Private Bank provided a comprehensive overview of the state of the U.S. economy and how the then-upcoming presidential election was affecting and projected to affect the economy in the coming months.

Key takeaways:

  • The US has an extremely stable economy progressing at a steady rate
  • Wieting suggests that regardless of the election results, the financial state of our country would not be negatively impacted
  • Employment showed a growing rate of about 200,000 per month, which outpaced the total adult population growth in the country
  • Trade rate was showing a tremendous rise, gaining stabilization in exchange rate
  • The economy overall is showing a slower pace of growth, which means longevity and sustainability for the future

The Executive Forum series is exclusive to Executive-level Chamber members and above.

The first Executive Forum of the FY18 year is September 7, 2017. If your Chamber membership qualifies and you would like to attend, please register here: ChamberPHL.com/execforum-9717

If you’d like more information on how to become a member or upgrade your membership, contact us at 215-790-3700.

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