Economic Development
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Reimagined Coatesville: The Revitalization of Chester County’s Only City is Starting to Boom
The City of Coatesville, which has a rich history in steel fabrication, is on an upward swing, with businesses, restaurants, and retail shops flocking to the downtown area, writes Edwin Malet for County Lines Magazine. The Midway Arts Building has been home to over 30 businesses since its opening in 2019. The Made in Coatesville…
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Shapiro Hopes His New 10-year Economic Development Plan Sets a New Course for Pennsylvania’s Future
Pennsylvania governor Josh Shapiro recently outlined a series of key investments he would like to see the state undertake as part of a new 10-year economic development plan for the commonwealth, writes Nate Doughty for the Philadelphia Business Journal. There are five defined goals in the plan, including: The plan aims to help Pennsylvania “catch up”…
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CCEDC Celebrates 20th Annual Economic Outlook with Expert Insights for 2024
The Chester County Economic Development Council’s Annual Economic Outlook is the longest-running event of its kind in the region, and it celebrated 20 years with an all-star lineup of analysts that attracted an audience of more than 150 leading business executives and community leaders. “This time in 2024, compared to this time in 2023: What…
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Downingtown Mom Who Was Saved By Blood Donations Raises Concerns About Low Supply Emergency
While the recent holiday season is usually a low point for blood donations to the American Red Cross, a combination of sickness and bad weather is also messing with nationwide blood supply donations that helped save the life of Downingtown mom Kayleigh Summers, writes Stephanie Stahl for CBS News Philadelphia. During the birth of her…
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Pennsylvania’s Unemployment Rate Remains at Record-Low for Third Consecutive Month
The unemployment rate in Pennsylvania remained at a record low 3.4 percent for the third consecutive month in November, writes Jonathan D. Salant for The Morning Call. According to preliminary numbers by the U.S. Bureau of Labor Statistics, the unemployment rate was lower than the 4 percent rate in November 2022. As the economy continued…
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As Longtime Sponsor of Philly Chamber’s Annual Economic Outlook, Firstrust Bank Underscores Its Commitment to Region’s Economic Development
For the 14th consecutive year, Firstrust Bank — Philadelphia’s Hometown Bank, which was founded during the Great Depression — sponsored The Chamber of Commerce for Greater Philadelphia’s economic outlook, held last week at the Kimmel Center. The bank’s support of the annual event underscores its commitment to the region’s economic development. “What I think is…
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VISTA Today Wishes You Merry Christmas and Happy Holidays
VISTA Today would like to wish you and your family a Merry Christmas and Happy Holidays! If 2023 has taught us anything, it’s that the world continues the change at a dizzying pace. Some things never change, however, including our eternal gratitude for your dedicated readership and for allowing us to try to brighten each…
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CCEDC Unveils Chester County’s Top Economic Milestones After Transformative 2023
The Chester County Economic Development Council (CCEDC) is releasing the top Chester County economic milestones for fiscal year 2022-2023, after a transformative year in which 21 regional economic development projects are underway and $20 million in new funding was approved for CCEDC to manage the PA Catalyst Loan Fund serving small businesses in 8 counties. …
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With Holidays Ahead, Can Consumers Keep Carrying the Economy?
Consumer spending accounts for about two-thirds of U.S. gross domestic product (GDP), so it plays an outsized role in driving economic growth or slowing it down.1 For the last 18 months, U.S. consumers have kept the economy strong despite high inflation and rising interest rates. The question now is whether consumers can maintain this momentum…
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Wall Street Journal: Philadelphia Fed President Wants to Stop Raising Interest Rates
Patrick Harker, Philadelphia Fed President, believes that the central bank should take its time before deciding the fate of interest rate increases, writes Nick Timiraos for the Wall Street Journal. “This is a time where we just sit for a little bit … let’s see how things evolve over the next few months,” said Harker. …
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Forbes: These Billionaires All Have Ties to Philadelphia
The nation’s richest individuals collectively lost about $500 billion last year, but the elite are worth $4.5 trillion, writes Rob LaFranco and Chase Peterson-Withorn for Forbes. Forbes recently released its “400 Richest People In America” list. Pennsylvania was represented throughout the list with 10 entries on the list; some of which have ties to Philadelphia.…
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Eleven Chester County Places Rank Among Cities with Fastest Growing Home Prices
Eleven Chester County places are among the fifty cities with the fastest-growing home prices in Pennsylvania, with one taking the top spot, according to a new report from Stacker. Devon ranked in first place statewide with a 1-year price increase of $65,095 (8.0 percent) and a five-year price increase of $257,712 (41.7 percent). A typical…
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Forbes: Small Businesses Have More Marketing Options Than Ever, This Is What They Are Focusing on For 2024
Small businesses, which used to rely primarily on print and traditional media advertisements and cold calling before the internet, today have more marketing options at their disposal than ever, writes John Hall for Forbes. According to a recent marketing survey by Taradel, the majority (94 percent) have plans to increase their marketing spending in 2024.…
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Shapiro Readies Comprehensive Plan to Boost Pennsylvania’s Business Growth and Retention
Gov. Josh Shapiro announced earlier this week his administration is preparing to unveil Pennsylvania’s economic development plan focusing on attracting and retaining businesses by year’s end, writes Paul J. Gough for the Philadelphia Business Journal. Shapiro said the plan will guide Pennsylvania’s business attraction and growth efforts and help the commonwealth compete against neighboring states.…
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Bloomberg: Philadelphia Ranks Among Top Work-from-Home Cities in United States
In 2022, remote work was interestingly still most common in neighborhoods close to the office, including in Philadelphia, writes Justin Fox for Bloomberg. According to the Census Bureau’s Public Use Microdata Area data, last year, Philadelphia ranked among the top 50 work-from-home areas in the country, with 34.9 percent of employed residents working primarily from…
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Chester County Welcomes 100 Job Opportunities with International Paper’s New Facility
International Paper’s new packaging plant in West Sadsbury will bring over a hundred new jobs to the region, writes Donna Rovins for The Daily Local News. The new $100 million facility will be on Lowery Valley Road and will produce packaging for processed food, beverage, shipping distribution, and e-commerce customers. The location of the…
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Chester County Economist Shares His Expertise as Philadelphia Officials Aim to Reduce Poverty Rates by 2024
As inflation surges in the Philadelphia region, a Chester County-based economist is offering his expertise. While the median household income in Philadelphia has been on the incline since The Great Recession, post-pandemic inflation rates negatively impact it, write Anna Orso and John Duchneski for The Philadelphia Inquirer. “What matters is real income after inflation,…
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Bloomberg: Billionaires Clash Over 76 Place, Proposed Chinatown Arena for Philadelphia 76ers
Recently, two squads of billionaires have been battling over 76 Place, the proposed future home of the 76ers in Philadelphia, writes Gerry Smith for Bloomberg. On one side, the team’s owners, Josh Harris, of Apollo Global Management, David Blitzer, a Blackstone Group executive, and real estate developer David Adelman, want to build a new home…
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