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Philadelphia Businesses Work Technology Pharmaceuticals

Manufacturing and the related distribution sector were traditionally the backbone of the Philadelphia economy. Since the end of World War II this industrial base has declined, as it has in many of the established industrial cities of the Northeast and upper Midwest, as many firms moved to new locations in the suburbs or migrated to other regions of the country. Today, the region has evolved into a more diverse economy geared toward information and service-based businesses.
Computer-based businesses, finance, telecommunications, insurance companies, and the printing and publishing industries are doing well. The biomedical field, encompassing hospitals, medical schools, pharmaceutical firms, research institutions, manufacturers of medical instruments and supplies, and medical publishing, is flourishing in Philadelphia. As manufacturing continues to recede, the city's educational and health institutions have come forward as important drivers of the regional economy. Education currently represents about 12 percent of city and 7 percent of suburban employment. Health services constitute about 18 percent of city jobs and 12 percent of those in the suburbs.
Few cities in the country can match Philadelphia's historic attractions, and the city plays host to millions of tourists each year. Thus, tourism remains an important segment of the local economy.
The Greater Philadelphia region has become one of the major corporate centers in the United States. Many companies are locating or expanding facilities in the area. They are attracted by the area's location at the center of the country's largest market, the access to transportation, the availability of medical, engineering, and business schools to supply technical talent, and the open land for industrial park development. Center City is still the financial, governmental, and cultural hub of the region. Concerted efforts over the last several years by government, business leaders, and concerned citizens to improve Philadelphia's reputation as a corporate host have borne fruit, and the city is continuing to be discovered as an attractive place to live and work.
Items and goods produced: chemicals, pharmaceuticals, office and computing equipment, telecomunications from fiber optics to celluar technology, instruments, biomedical products, fabricated metal products, paper products, processed foods, clothing, petrochemicals, machinery
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