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Details

Date December 2012
Client Philadelphia Association of Community Development Corporations
Length 9 Pages

economiic impact analysis

Collective Strength

The $3.3 Billion Impact of Philadelphia Community Development Corporations

Collective Strength presents an engaging description of how Philadelphia’s community development corporations have produced billions of dollars in value to the city and state while transforming Philadelphia neighborhoods.  The analysis by economists at the Econsult Corporation found that Philadelphia CDC investments contributed $3.3 billion to the local economy during the last twenty years including:

• $2.2 billion in worker wages and contracts with area businesses

• 12,000 jobs in Philadelphia and more than 37,000 jobs in the Commonwealth of Pennsylvania

• $2.2 billion in worker wages and contracts with area businesses

• $28 million added to city tax roll

• $680 million in increased wealth for neighborhood property owners