15th January, 2020
Center City Jobs Growth a Sign of Things to Come for Downtown Philadelphia

Philadelphia is enjoying an economic renaissance, with over 70,000 jobs added since 2009. In 2018, Philadelphia added 15,400 new jobs — the largest one year increase in over 50 years.

42% of all the jobs in Philadelphia are based in Center City. With 13 rail lines, three rapid transit lines, five trolley lines, and 29 bus routes, public transportation takes 300,000 passengers to and from downtown Philadelphia every day, drawn to Center City’s employers, dining establishments, retail shops, schools, hospitals, museums, and cultural institutions.

Center City also boasts a highly developed highway system with an international airport located just 15 minutes away from downtown.

According to the 2019 State of Center City Report published by The Center City District (CCD), Central Philadelphia Development Corporation (CPDC) and Center City District Foundation (CCDF), one of the city’s greatest strengths is its diversification with business and financial services, real estate and information technology providing two out of every five downtown jobs. Education and healthcare services account for one out of every five downtown jobs.

Center City’s office inventory is at a historic high of 43.5 million square feet, and there is much more construction on the horizon.

The city’s strong employment growth has encouraged thousands of people to move back to the city from the suburbs, or stay after college and graduate school. There are luxury apartments in Center City attracting a new generation of urban Millenials, and Center City is easily the fastest growing area in Philadelphia, with 193,000 residents — a 22% increase since 2000.

A record 2,810 new housing units hit the market in 2018, and Center City has seen 26,195 new housing units since 2000.

Philadelphia still has yet to recapture the number of jobs it had back in 1970, and it has not yet returned to the employment numbers it enjoyed back in 1990, however, the uptrend is undeniable, and there is no question that Center City is one of the best places to live, work and visit in Philadelphia.

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