A newly published report – entitled “Philadelphia Renaissance” – has found that growth in the city and region is being driven by college student retention.

It was compiled by Campus Philly, in partnership with a number of regional universities and businesses, including West Chester University, Neumann University, and Vanguard.

According to the report, the number of college-educated 25- to 34-year-olds in Philadelphia between 2000 and 2017 increased by 115 percent from 59,700 to 128,400. Similar growth was also recorded in the rest of the region, with 118,500 new young graduates in the Greater Philadelphia region.

This growth is even more remarkable, considering that during the decade prior, Philadelphia lost 3,400 young degree holders to other regions. Meanwhile, the city’s population only increased by four percent between 2000 and 2017.

Philadelphia also significantly outpaced other large cities and the country as a whole in college student retention.

This has also had a positive effect on the region’s economy. New degree holders and their higher salaries lead to an additional $6.4 billion in earnings in the region each year. This helps support 35,600 jobs across a range of industries and brings in an additional $394 million in annual tax revenue.

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