Philadelphia 2035 (damaged, registry, tourist)

[MarketStEl]

Originally Posted by Duderino

For all the talk of "luring" companies from other cities, it's actually pretty rare to get a large, significant company to move to a completely different area, and it's even rarer that it occurs without some form of corporate welfare. There was a lot of buzz for example when GE moved their HQ from Connecticut to Boston. But even as attractive and dynamic a city as Boston utilized tax break incentives to seal the deal: Documents Show Boston Doubled Its Tax Incentive Offer To Help Lure GE | WBUR News

Of course, real estate companies will do what they can to find new tenants, and that's fine as a private sector endeavor, but in terms of public efforts, it's FAR more cost-efficient and effective for local governments to assist existing companies and foster and retain new startup companies. And recent efforts by government, tech, medical and academic institutions in Philly seem to be really focusing on doing just that.

It's not as flashy and exciting of an approach to economic development, but the strongest economies grow diversely and organically over time.

Usually, if a large company moves its headquarters to another metropolitan area without some absurdly large incentive, it's because it's either undergone a merger with another company whose CEO wants the combined headquarters near where he lives or it's acquired a new CEO who wants the headquarters near where he lives.

There have been a number of studies, perhaps the best known undertaken by Wiliam H. Whyte, that show that of all the factors that might influence a company's headquarters location decision, the strongest correlation is with the CEO's residence. In every case, the CEO's commute got shorter.

So maybe our corporate recruitment strategy should focus on luring not companies but chief executives to this region. Their companies will then follow.

[cpomp]

Originally Posted by MarketStEl

Usually, if a large company moves its headquarters to another metropolitan area without some absurdly large incentive, it's because it's either undergone a merger with another company whose CEO wants the combined headquarters near where he lives or it's acquired a new CEO who wants the headquarters near where he lives.

There have been a number of studies, perhaps the best known undertaken by Wiliam H. Whyte, that show that of all the factors that might influence a company's headquarters location decision, the strongest correlation is with the CEO's residence. In every case, the CEO's commute got shorter.

So maybe our corporate recruitment strategy should focus on luring not companies but chief executives to this region. Their companies will then follow.

Good point. Doesn't the CEO of Crown Holdings live in Bucks County? That is why I hope the company chooses to relocate in the burbs rather than leave the region altogether.


I'm not picking on Philadelphia, but it is pretty abysmal that a city of its size has 3 and soon 2 fortune 500 companies while the burbs have 7 and soon possibly 8, not to mention the several large private firms such as Vanguard. So while yes it is rare/ a big move for an entire company to change cities, Philadelphia desperately needs one (and not one from the suburbs). Many people would love to stay in Philadelphia after college, but the opportunities outside of medicine and higher education can be quiet limited. I guess you could add Comcast now too.

[kyb01]

Originally Posted by cpomp

I wish the city could lure a big corporation from another city to the proposed office tower on Market to get the project going.


Hmm, I would love for a mixed use development, condos/apts with retail and entertainment. Almost like a town center on a little island. However, flooding may limit the possibilities. I just hope it doesn't end up as townhouses.

The flooding problem is real. Whatever happens needs careful planning with that fully in mind.

[kyb01]

Originally Posted by cpomp

Good point. Doesn't the CEO of Crown Holdings live in Bucks County? That is why I hope the company chooses to relocate in the burbs rather than leave the region altogether.


I'm not picking on Philadelphia, but it is pretty abysmal that a city of its size has 3 and soon 2 fortune 500 companies while the burbs have 7 and soon possibly 8, not to mention the several large private firms such as Vanguard. So while yes it is rare/ a big move for an entire company to change cities, Philadelphia desperately needs one (and not one from the suburbs). Many people would love to stay in Philadelphia after college, but the opportunities outside of medicine and higher education can be quiet limited. I guess you could add Comcast now too.

Does anyone remember that a portion of Vanguard was supposed to move into the city? What happened with that? Anything?

There are tons of law firms and lawyers in Center City, btw. EisnerAmper left Jenkintown for CC, for example. You are also not thinking about the huge arts community.

Retaining those companies in SEPA is more important than whether any cross city line.

[cpomp]

Originally Posted by kyb01

Does anyone remember that a portion of Vanguard was supposed to move into the city? What happened with that? Anything?

There are tons of law firms and lawyers in Center City, btw. EisnerAmper left Jenkintown for CC, for example. You are also not thinking about the huge arts community.

Retaining those companies in SEPA is more important than whether any cross city line.

I agree, thats why I never advocate for luring companies from the suburbs into the city, it doesn't really benefit the region, but taking the jobs from our peer cities whether they choose Philadelphia or King of Prussia benefits the entire region. That is why I hope Crown doesn't pack up and leave the region entirely.


I have not heard any updates on Vanguards new office in the city either.

[thedirtypirate]

Originally Posted by kyb01

Does anyone remember that a portion of Vanguard was supposed to move into the city? What happened with that? Anything?

There are tons of law firms and lawyers in Center City, btw. EisnerAmper left Jenkintown for CC, for example. You are also not thinking about the huge arts community.

Retaining those companies in SEPA is more important than whether any cross city line.

The Vanguard Innovation Center is opening at 23rd and Chestnut with plans for 100+ employees or crew members as they call them.

https://pressroom.vanguard.com/news/...-02-09-17.html

Vanguard and Comcast paid for that brookings report release a couple weeks ago, so obviously they are interested in the city again.

[Scarlet Witch]

Originally Posted by cpomp

Good point. Doesn't the CEO of Crown Holdings live in Bucks County? That is why I hope the company chooses to relocate in the burbs rather than leave the region altogether.


I'm not picking on Philadelphia, but it is pretty abysmal that a city of its size has 3 and soon 2 fortune 500 companies while the burbs have 7 and soon possibly 8, not to mention the several large private firms such as Vanguard. So while yes it is rare/ a big move for an entire company to change cities, Philadelphia desperately needs one (and not one from the suburbs). Many people would love to stay in Philadelphia after college, but the opportunities outside of medicine and higher education can be quiet limited. I guess you could add Comcast now too.

Blame it on the white flight that happened in the late 60's and 70's. People moved out of the city and abandoned it for rural living. Philly is being revitalized, 1)Youth/Millenials want to stay in the city and since they are more open minded then baby boomers, are more open to diversity in the city. 2) Immigrants- there are more immigrants now then there are in the 90's, and they are working in Philly and buying and investing in properties. 3) Security/Terrorism- Philadelphia is a more livable alternative then NYC who is prone to terrorist threats and have lots of security.4) Higher cost of living in east coast makes Philly attractive, compared to NYC/DC. Philly is still affordable for a big city.

[cpomp]

Originally Posted by Scarlet Witch

Blame it on the white flight that happened in the late 60's and 70's. People moved out of the city and abandoned it for rural living. Philly is being revitalized, 1)Youth/Millenials want to stay in the city and since they are more open minded then baby boomers, are more open to diversity in the city. 2) Immigrants- there are more immigrants now then there are in the 90's, and they are working in Philly and buying and investing in properties. 3) Security/Terrorism- Philadelphia is a more livable alternative then NYC who is prone to terrorist threats and have lots of security.4) Higher cost of living in east coast makes Philly attractive, compared to NYC/DC. Philly is still affordable for a big city.

All positives for Philadelphia, but the city can only improve so much when it is terrorized with crappy leadership with backwards agendas.

[cpomp]

Home is increasingly where the shopping cart is, as big retail property owners retool

[cpomp]

https://philly.curbed.com/2017/6/2/1...le-2110-walnut


So there are 2 seperate additions happening on Walnut St? I like the idea and contrasting periods of architecture, but I do not like the missing cornice and is that a garage door at street level, if so, get rid of that. Also, they are going to be very expensive.


Apparently a Bang & Olufson store is the retail tenant too.