Philadelphia: The Complete Package

Abundant Life Sciences, Education, Hospitality, and Corporate assets enhance Philadelphia as a smart meeting and convention destination

PHILADELPHIA…March 4, 2011…Philadelphia: The Complete Package is touting its strength as a connector for the business world to come meet, explore and succeed. When smart minds meet, everyone benefits because it opens doors for long-term business opportunities.

Philadelphia continues to lead in innovation with top-rated educational institutions and hospitals, an expanding hospitality and evolving retail industry, and thriving incubators in the life sciences and creative sectors. Combined, these smart resources attract even more meetings and conventions, bringing attendees and visitors to the city from all around the world.

“Philadelphia is a great business address with great depth,” said Jack Ferguson, president & CEO, Philadelphia Convention & Visitors Bureau (PCVB).  “Philadelphia truly is the smart choice for meetings and conventions, as people benefit from the wealth of resources in our backyard, including potential lists of attendees, dynamic expert speakers and one-of-a-kind venues.”

WHY PHILADELPHIA IS A SMART CITY AND A SMART CHOICE
Philadelphia is a smart choice for any business that wants to grow and prosper. It spawned America’s first university, first library, first hospital and more.

Still today, Philadelphia has remained a leader in the nation in undergraduate degrees per capita and is third in the nation in advanced degrees per capita. With more than 101 educational institutions in the region serving 300,000 students, its strong nucleus of life science organizations, growing hospitality industry, the quality of its corporations, Philadelphia seems poised to expand its standing as a breeding ground of innovation – from new medical treatments to advancements in the communications and technology industries.

EXPANDING HOSPITALITY SECTOR
With the expansion of the Pennsylvania Convention Center, which increased in size by 62 percent, it now has the ability to hold two meetings or conventions simultaneously and mega tradeshows. The now 14th largest Convention Center in the U.S., it offers the largest exhibit space and ballroom in the Northeast. This has sparked growth throughout the Convention Center District, its immediate neighborhood, and is a catalyst for growth at existing institutions, from Center City hotels and museums, to Temple University. Exciting new civic spaces are springing up around the Convention Center on the Avenue of the Arts (North Broad Street) -- from the Pennsylvania Academy of the Fine Arts (PAFA)’s new Lenfest Plaza, a gateway to the city’s cultural hub.

This open-air piazza, opening in Fall 2011, will be a metropolitan oasis. Convention attendees, art students, visitors and Philadelphians alike will flock to this new space brimming with trees, cafes and outdoor dining. The grand centerpiece of Lenfest Plaza will be a 53-foot tall sculpture of a paintbrush by renowned artist Claes Oldenberg. Lenfest Plaza welcomes all visitors to Philadelphia’s Museum Mile and the relocated Barnes Foundation collection opening in 2012.

The “front door” of City Hall, Dilworth Plaza, is also getting a huge makeover. This multi-million-dollar project; due for completion in the fall of 2013, will transform the very heart of Center City Philadelphia. Continuing the exciting new developments along with the expansion of the Pennsylvania Convention Center are two soon-to-be culinary destinations by two of our city’s most famed restaurateurs, who are opening new restaurants side-by-side.

Marc Vetri, winner of a James Beard Award and named by Food and Wine as one of the Ten Best New Chefs and the owner of three Philadelphia restaurants, is opening Birreria 600, an Italian pub and wine bar. Vetri’s neighbor is none other than Stephen Starr.  Famous for vibrant atmospheres that range from ultra-chic to retro-kitsch and flavors that are just as bright, Starr sets out to make another can’t-miss dining experience.  He’ll premier Route 6, a New England-style seafood house just steps from the Convention Center.

Two brand new attractions in the heart of Historic Philadelphia and a short walk from the Pennsylvania Convention Center explore the city’s rich cultural history through meaningful educational experiences. The National Museum of American Jewish History (NMAJH), which opened in November 2010, is the only museum in the nation dedicated to telling the story of the Jewish American Experience. Affiliated with the Smithsonian Institute, NMJAH is just a block from the National Constitution Center at 5th and Market streets. Located across the street is the President’s House, which opened in December 2010, the nation’s first White House where George Washington lived and worked with his enslaved Africans. The site is a commemorative look into the history of slave trade in Philadelphia and the nation.

In addition to attracting conventions and tradeshows, Philadelphia continues to flourish as a tourist destination. In 2009, the City drew 30 million visitors and was the fastest-growing destination for international travelers among the top 20 markets, ranked 12th in the nation. And 2011 will prove to be another groundbreaking year for the city with the inclusion of the first Philadelphia International Festival of the Arts in April.

LIFE SCIENCES AND HEALTH CARE
A study released in May 2009 by the Milken Institute on the state of life sciences in the greater Philadelphia region underscores that Philadelphia is indeed “smart.”  The report gave the region an overall number two ranking for its impact as a life sciences sector, noting that 15 percent of all economic activity and one out of every six jobs in the region can be attributed to the life sciences. Located within a two-hour drive of Philadelphia are 80% of the world’s largest pharmaceutical and biomedical firms.

The Milken Study also concluded that the biotech and pharmaceutical industries currently employ more than 500,000 people, either directly or indirectly, in New Jersey, Pennsylvania and Delaware. The area's large concentration of medical schools and hospitals ranks second in the country, producing one of every five physicians in the United States.

Located within a day’s drive of 40 percent of the U.S. population, Philadelphia’s wealth of life sciences and health care institutions – ranging from nationally-recognized hospitals to a hub of innovative pharmaceutical firms – position it as one of the country’s forerunners in the industry and a leader in research and development.  

Life sciences comprise 50 percent of all meetings and conventions held in the Pennsylvania Convention Center and 30 Center City hotels, including medical, nursing, biotechnology, pharmaceutical, health care, venture capital and more. This has supported the PCVB’s creation of the Greater Philadelphia Life Sciences Congress, a division of the PCVB, dedicated to branding the greater Philadelphia region as “America’s Life Sciences Meetings Destination.”

Philadelphia engages businesses, convention goers and visitors with its strong history and dedication to the sciences. From April 15-18, the city will celebrate its first Philadelphia Science Festival.

For an entire week, Philadelphia will connect universities, museums and libraries with the public to explore the past, present and future of science and technology with more than 200 events.

All of these attributes – in addition to Philadelphia being the “Birthplace of American Medicine” – the nation’s first hospital, first medical school, first children’s hospital, first pharmacy school, first medical library and more – are the key ingredients for a truly smart city, making it the smart choice for meetings.

HIGHER EDUCATION
The greater Philadelphia region’s 101 colleges and universities compound Philadelphia’s leadership position.  Many of the research and development institutions of higher education fuel the talent pipeline for Philadelphia-based companies. The region is fourth in enrollment and degrees awarded, second in bachelor degrees awarded, and third in doctoral and advanced certificates and degrees awarded.

Together, these institutions create an interacting support network for entrepreneurs, venture capitalists, high-tech absorptive capacity, and providers of professional services. The region’s level of educational attainment continues to outpace the nation and organizations like Campus Philly, Graduate! Philadelphia and the recently announced Philly Goes 2 College pioneer efforts to encourage students to earn degrees, graduate, live and work in greater Philadelphia.

CORPORATE SECTOR
Business Facilities magazine recently selected the greater Philadelphia region among America’s top business destinations. There are 330 Fortune 500 companies with a presence in the region, 17 Fortune 500 companies headquartered in the region, and six Fortune 500 companies headquartered in Philadelphia – Sunoco, Comcast, Cigna, Aramark, Crown Holdings and Sovereign Bancorp.  Showing the diversity of Philadelphia business culture are companies like Urban Outfitters, Wyeth, Rohm and Haas, and Pep Boys, just to name a few.  

In addition, more than 645 internationally headquartered companies have located an
office or facility in the region. These businesses represent 37 countries making Philadelphia a true “melting pot.” In fact, Philadelphia, known for its cultural diversity, ranks in the top 15 for largest foreign-born populations in the United States.  

ENTREPRENEURSHIP AND THE CREATIVE SECTOR
Approximately $3.65 billion in venture capital has been invested in companies in the region in the past five years. The financial commitment, along with mentoring and the large number of colleges and universities pumping students into the talent pool, have all fueled the creative sector and start-ups in the region.

Philadelphia is home to non-profits providing technical and business development services to startup and emerging-stage companies. BioStrategy Partners, for example, trains and prepares the next generation of life science leaders in the Philadelphia region, especially first time entrepreneurs and other local organizations. Other local organizations that support early-stage companies include Ben Franklin Technology Partners, which was awarded the International Economic Development Council's Technology Based Economic Development Award in 2008, and the University City Science Center, the largest urban research park in the U.S with two million square feet of wet labs, office and retail space. It has incubated 350 companies, providing services from mentoring to incubator space with fully-equipped laboratories.

Philadelphia is also committed to innovations and developments in Green Technology. Mayor Michael A. Nutter recently kicked off Greenworks Philadelphia, an initiative to make Philadelphia the greenest urban city by 2015 and the message has spread throughout multiple sectors. The Philadelphia Eagles are the most environmentally friendly sports franchise in the country. The city is also home to the Pennsylvania Horticultural Society, which runs Philadelphia Green, the nation’s most comprehensive urban Greening program, since 1974.  You can even feel Green when you stay overnight; Kimpton’s Hotel Palomar Philadelphia is the city’s first LEED Gold Certified hotel. It’s no wonder why Pennsylvania ranked 3rd out of the 50 states for Top Shelf LEED projects.

All of these factors work together to help make Philadelphia: The Complete Package, and a smart choice for meetings and conventions.

For more information, visit www.PhiladelphiaUSA.travel/complete.


Philadelphia Convention & Visitors Bureau (PCVB), www.PhiladelphiaUSA.travel, a private non-profit membership corporation, is the official Tourism Promotion Agency for the City of Philadelphia, and the primary sales and marketing agency for the Pennsylvania Convention Center. The PCVB competes with its counterparts worldwide for convention and tourism business. The organization has departments dedicated to the multicultural, sports, and life sciences markets.

The Pennsylvania Convention Center Authority manages the largest investment in the Commonwealth of Pennsylvania. Expansion opens in March 2011 with 62% more space than before (one million square feet). The 14th-largest convention center in the United States has a focus on the best customer service and state-of-the-art technology in the industry. www.paconvention.com.