Southeastern Pennsylvania leaders announced a new effort to grow jobs and strengthen economic competitiveness in the region with the formation of the Greater Philadelphia Growth Partnership.
Officials said the Partnership is a business-led, cross-sector entity created to drive economic growth and expand opportunities throughout the region. Alongside the release of a regional growth strategy, economic and workforce development leaders from Bucks, Chester, Delaware, Montgomery and Philadelphia counties launched the Partnership to guide priorities, investments and action.
“This partnership marks a truly exciting and important step forward for our region,” Greater Philadelphia Growth Partnership Executive Director Claire Marrazzo Greenwood said. “Southeastern Pennsylvania has always had the assets to compete. This effort represents a level of collaboration, focus, and commitment to spur growth unlike anything we have ever had in this region.”
Officials said the partnership would bring the region together to face two challenges – sluggish job growth and declining economic mobility. Initially, the partnership’s efforts will focus on expanding capacity to execute development functions like business expansion, regional marketing, research and international engagement, while focusing on cluster-building in high-opportunity industry and connecting talent to employer demand.
“This is a new way of doing business,” Montgomery County Commerce Director Stephen Forster said. “Since I joined Montgomery County over two years ago, we have been committed to a regional effort and growing cooperation. Together, we’ve built the Partnership through a truly collaborative approach, and now we’re bringing Southeastern Pennsylvania into a new era of job growth and opportunity.”
The Partnership has secured $5.4 million in seed funds to date from corporate and philanthropic investors for its first three years. Additionally, the Chamber of Commerce for Greater Philadelphia will play a significant role in the Partnership, contributing staff support and $4 million annually.