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I wouldn't even say it's falling out of the Top 10, Philly as a city in terms of lifestyle was doing great - really great right until the pandemic. I was there recently and it seemed vibrant.
It's growing and doing well but at worst it's being pushed out of the top 10 by Seattle Atlanta and Dallas.
But mostly by Seattle, I think. Miami seems to be ahead of its in terms of influence on a global level but Miami seems kind of...frivolous and unreliable. Dallas isn't making huge gains in soft culture but its economically so mighty... Seattle is growing much more cosmopolitan and soft culture influence is growing a lot. The economy is booming too.
I mostly agree. However, Miami has been unreliable until recently. I do think that its future is pretty solid (Next 10-15 years). It has established itself pretty nicely in the past 10 years.
How you see Boston above, is how I see Miami. I think Miami has found its footing.
I think Miami has definitely outranked Philly globally. I mean, its Miami... tourism or not, it has grown significantly in the Banking/Finance industries'. My cousin just got 3 job offers from his Company, all Miami for Business/Investment. Miami is booming. But it will be some time until Miami actually passes Philly... maybe another 10 years.
I wouldn't even say it's falling out of the Top 10, Philly as a city in terms of lifestyle was doing great - really great right until the pandemic. I was there recently and it seemed vibrant.
It's growing and doing well but at worst it's being pushed out of the top 10 by Seattle Atlanta and Dallas.
But mostly by Seattle, I think. Miami seems to be ahead of its in terms of influence on a global level but Miami seems kind of...frivolous and unreliable. Dallas isn't making huge gains in soft culture but its economically so mighty... Seattle is growing much more cosmopolitan and soft culture influence is growing a lot. The economy is booming too.
This is all a very objective take, and I agree 100%. There's no doubt that the Sun Belt behemoths like Atlanta, Dallas, Houston, Phoenix and Miami (plus Seattle) have all grown tremendously in clout economically over the past couple of decades, and especially Miami of late.
The 2010s in Philadelphia were really the beginning of an "upward spiral" for the city and gaining more speed in its revitalization, and I strongly believe it will continue to as affordability issues will continue to be a drag on other West Coast and Northeast Corridor hubs. Philly will continue to laser focus on super lucrative industries like life sciences and other niche tech sectors, and really invest in social entrepreneurship, but even the "boosters" acknowledge that its comparatively slower momentum may cause it to lose some "rank" technically.
When it comes down to it, I really believe that the "Top 10" is a bit arbitrary, even know I know that's a neat and tidy number that is so coded into everyone's brain. The reality is the US has 12-15 major urban areas now that can can compete on at least a semi-global level. And it's not necessarily that the shares for certain cities are shrinking, but the "pie" is growing.
I mostly agree. However, Miami has been unreliable until recently. I do think that its future is pretty solid (Next 10-15 years). It has established itself pretty nicely in the past 10 years.
How you see Boston above, is how I see Miami. I think Miami has found its footing.
I think Miami has definitely outranked Philly globally. I mean, its Miami... tourism or not, it has grown significantly in the Banking/Finance industries'. My cousin just got 3 job offers from his Company, all Miami for Business/Investment. Miami is booming. But it will be some time until Miami actually passes Philly... maybe another 10 years.
I would not put too much confidence in Miami. The I4 corridor is too big of a wild card. Miami is also super expensive. Don't draw long term conclusions from short term trends. It has had major booms and major busts. Your comments about it being unreliable until recently only means you caught it on the upswing. Compare industries in Miami and compare Philly in terms of resilience. Tourism and International banking are major draws, but Education, Life sciences, Pharma, energy... are built into the Philly fabric. The international banking HQs have a convenient ally in Miami, but they may decide a better ally may be further upstate. The educational institutions, gas reserves, etc built into Philly are not going anywhere.
I don't want to go into politics but some of the recently policies in FL may also hinder growth. I mean the guy went out of his way to PO Disney.
To the poster you replied too, Seattle has long been cosmopolitan. It is the GDP growth the last 25yrs that has Elevated it in the discussion. I first visited Seattle about 20 yrs ago and was stunned by how cosmopolitan it was compared to my preconceived thoughts about it.
This is all a very objective take, and I agree 100%. There's no doubt that the Sun Belt behemoths like Atlanta, Dallas, Houston, Phoenix and Miami (plus Seattle) have all grown tremendously in clout economically over the past couple of decades, and especially Miami of late.
Philadelphia continues to grow and revitalize, and I strongly believe it will continue to as affordability issues will continue to be a drag on other West Coast and Northeast Corridor hubs. Philly will continue to laser focus on super lucrative industries like life sciences and other niche tech sectors, and invest in social entrepreneurship, but even the "boosters" acknowledge that its comparatively slower momentum may cause it to lose some "rank" technically.
When it comes down to it, I really believe that the "Top 10" is a bit arbitrary, even know I know that's a neat and tidy number that is so coded into everyone's brain. The reality is the US has 12-15 major urban areas now that can can compete on at least a semi-global level. And it's not necessarily that the shares for certain cities are shrinking, but the "pie" is growing.
The “share” as measured at a fraction of the pie decreasing means Philly is losing ground. There isn’t a city on the planet that was wealthier in 1703 than it is today, but there sure are cities less relevant than they were in 1703 (see Newport RI)
Newport never really declined in absolute terns (save when the British army plundered it) but has constantly lost ground to everyone else over the intervening 320 years and now obviously not a peer to Baltimore or whatever
I would not put too much confidence in Miami. The I4 corridor is too big of a wild card. Miami is also super expensive. Don't draw long term conclusions from short term trends. It has had major booms and major busts. Your comments about it being unreliable until recently only means you caught it on the upswing. Compare industries in Miami and compare Philly in terms of resilience. Tourism and International banking are major draws, but Education, Life sciences, Pharma, energy... are built into the Philly fabric. The international banking HQs have a convenient ally in Miami, but they may decide a better ally may be further upstate. The educational institutions, gas reserves, etc built into Philly are not going anywhere.
I don't want to go into politics but some of the recently policies in FL may also hinder growth. I mean the guy went out of his way to PO Disney.
To the poster you replied too, Seattle has long been cosmopolitan. It is the GDP growth the last 25yrs that has Elevated it in the discussion. I first visited Seattle about 20 yrs ago and was stunned by how cosmopolitan it was compared to my preconceived thoughts about it.
Pretty much spot on about Miami, and Florida in general... It's just... Inconsistent and unreliable.
Let's not forget climate/weather issues. Brickell already floods like crazy every time there is a summer afternoon storm. Heck, I routinely go into Little Havana to hang out with one of my coworkers, and even THAT turns into Atlantis during storms. Imagine a tropical storm or hurricane lashing through the city. It's been relatively spared for some time, but it will happen eventually.
Yeah, but I'm not talking about CNN alone if you go to the original post, so that would equate to nitpicking.
Moreover, regarding your "factual incorrect" comment about lagging, this is from a Pro-Philly web page. It's also factual because Philadelphia had more jobs than Atlanta before the pandemic and now Atlanta is in the lead.
Well, that's actually more broadly about Pennsylvania's economy, which is definitely a different topic than the Philadelphia area specifically. But yes, compared to Atlanta, Philly has not recovered as quickly, but the link I provided clearly shows that it's middling, at worst, compared to the Top 15 metro areas.
Quote:
Originally Posted by cdw1084
Philadelphia ranked 50th on this global listing is really causing some of you a headache. I really don't understand it, being a homer is one thing, but refusing to see how the city is on the verge of falling out of Top 10 is unreal. Nearly every metric used to determine a city's prominence points to it.
I think you have a misunderstanding, here. There's no "headache" or being a "homer" on the part of Philly-affiliated posters, certainly no more than you're clearly arguing in the interest of Atlanta.
We all clearly have different takes and perspectives to offer about different cities and their economies. That kind of dialogue is healthy.
I think folks really need to understand that a lot of aspects related to economic competitiveness, and even more nebulous like "global importance," is more subjective than you would like to admit. No one economic metric, or report from a think tank, is going to make the case, and that's why a discussion like this is important to flesh out factors or details that might not be captured.
The “share” as measured at a fraction of the pie decreasing means Philly is losing ground. There isn’t a city on the planet that was wealthier in 1703 than it is today, but there sure are cities less relevant than they were in 1703 (see Newport RI)
Newport never really declined in absolute terns (save when the British army plundered it) but has constantly lost ground to everyone else over the intervening 320 years and now obviously not a peer to Baltimore or whatever
I alluded to agreement with you on technical terms, but what I'm saying it's still possible for cities to grow in economic strength, and become more globally connected, all while losing "market share" to those doing it faster, so to speak.
In other words, loss of rank is not mutually exclusive from growth, or even theoretically growing importance in the global economy.
1. NYC ( 1st globally)
2. Los Angeles ( 6th globally)
3. Chicago ( 7th globally)
4. Washington D.C ( 12th globally)
5. San Francisco ( 15th globally)
6. Toronto (18th globally)
7. Boston (20th globally)
8. Montreal (29th globally)
The 2022 Global Cities Outlook rankings
Between the U.S and Canada
1. NYC ( 6th globally)
2. SF ( 13th globally)
3. Minneapolis (22nd globally)
4. Montreal (23rd globally)
I think Philadelphia is being short- changed and SF over-paid. I am looking at it from importance. I think DC is more important. SF is a good #4.
Philadelphia is a silent beast, don't under-estimate it.
Philly is huge in Health Sciences, Biotechnology and Pharmaceuticals. It has also carved out a niche in Telecommunications. Financial Services, Manufacturing and Life Sciences.
Look at the major players in Philly: AstraZeneca,
Bristol Myers Squibb,
GSK,
Johnson & Johnson,
Merck,
Bristol Myers Squibb is based in NYC, Johnson & Johnson in New Brunswick, NJ, and GSK has practically deemphasized their presence in PA and has moved mainly to Raleigh, NC last time I checked.
Quote:
Originally Posted by atadytic19
If you are putting Boston up there with SF then Philly should not be far off. That is why after SF I grouped Boston, Houston and Philly in alphabetical order because my mind changes sometimes.
I am not sure why you would rank Philly with Atlanta and below DFW. With over 1200 life science companies in Philly they definitely have a niche there. Life Sciences in Philly is what Energy is to Houston.
In terms of Financial Services Philly area has
Colonial Penn,
Delaware Funds by Macquarie,
FS Investments,
Lincoln Financial,
Radian,
SEI,
Vanguard....
SEI has different branches throughout the country (https://www.sei.com/talk-to-us/). Vanguard (Malvern), & Lincoln Financial (Radnor) are in the Philly suburbs. Colonial Penn & Delaware Funds are subsidiaries of CNO Financial Group of Carmel, IN (https://en.wikipedia.org/wiki/CNO_Financial_Group, & the Macquarie Group of Sydney, Australia(https://en.wikipedia.org/wiki/Macquarie_Group),respectively. Radian & FS Investments seem to be the only financial companies based in the city that you've stated here.
Quote:
Originally Posted by atadytic19
And fintech startups such as
Benefix,
cred.ai,
Life.io,
Nth Round,
Odessa Inc.,
Picwell,
Synario.....
Benefix is located in Lancaster, NJ, & Life.io based in Princeton, NJ, both which aren't technically inside the Philadelphia MSA (Mercer Coutny used to be a part of the Philly CSA until 2010, when it was moved to the NYC CSA). Cred.ai, Nth Round, Odessa Inc., Picwell, & Synario are the companies based in the city of Philadelphia. We'll hav to wait and see how these startups hold up and it will take a decade before we can see how they turn out.
Quote:
Originally Posted by atadytic19
I'm Manufacturing some huge names have operations in Philly:
like Boeing,
Dow Chemical,
DuPont,
Lockheed Martin,
Merck,
Pfizer
Boeing (Chicago), Dow (Midland, MI), Lockheed Martin (Bethesda, MD), Merck (Rahway, NJ), and Pfizer (NYC) may have the operations in Philadelphia, but looking at where those companies are based at makes Philadelphia look like a back office town than anything. This city used to be known as the "Workshop of the World" due to the large number of textile, steel, petroleum, natural gas, and railroad plants throughout the city as well the HQs for those companies. Philadelphia don't have the same capacity of manufacturing like it used to back in the bulk of the 20th century. It's meds and eds and a service economy in Philadelphia.
I definitely think Philly is a major player in key sectors to place it above both Atlanta and DFW. And I have not even mentioned Comcast.
Quote:
Originally Posted by atadytic19
I stand by my prior ranking of
NY
Chicago- DC- LA
SF
Boston- Houston- Philly
All are huge in important sectors.
Seattle is a major player in important sectors too so I would place it in that group with Atlanta and DFW. Detroit is my wild card.
NYC, London, and to a certain degree, Paris, Tokyo, and Hong Kong, are in a strata by themselves as far as economics. DC isn't a strong economic capital the way Chicago and especially LA & Miami are. Everything in DC revolves around federal gov't. It's still has a stronger economy than Philadelphia, but it' a notch below Chicago, LA, or even Miami because DC was never designed to be a corporate center like Chicago, an entertainment center like LA, or a lifestyle center like Miami.
Boston has a stronger meds and eds economy and a stronger economy due to the number of corporations based in Boston (GE, Fidelity, State Street, etc.). Boston is practically the "Hub of New England" because it's the only major city in New England. Houston remains the undisputed energy center of the world. Philly doesn't have a niche economy that it can take advantage, which is why you see it below the rankings of these polls. It's not even known as a "hub city" of it's own state like Boston is, but another major city which is sandwiched halfway between two major power broker cities in NYC and DC.
Lol, you didn't read what I said. I don't care where places are headquartered
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