Port Plan: 8,100 New Jobs are Possible

The City Controller's Officer argues that 8,100 jobs are possible at Southport.

The City Controller’s Officer argues that 8,100 jobs are possible at Southport.

What should we do with Southport? The 239-acre parcel at the east end of the Philadelphia Navy Yard has been the topic of much debate over the years. Now that a plan is in place to deepen the Delaware River from 40 to 45 feet — allowing larger cargo ships to pass through — it’s high time to get the space in order.

In the latest re-development plan, the Philadelphia Regional Port Authority has received 16 proposals for development and is reviewing the plans.

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Bank Execs Indicted For Allegedly “Hiding” Bad Loans

Two former executives of Wilmington Trust Corp. have been indicted for making false statements to the government in connection with the bank’s handling of bad loans during the economic crisis.

William North, the former chief credit officer, and Kevyn Rakowski, the former controller, are accused of hiding the extent of bad loans on the Wilmington Trust books in October and November of 2009. They were each charged with one count of making false statements to the Securities and Exchange Commission, and three counts of making false statements to the Federal Reserve.

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Philly’s Business Environment Ranks Near Last in New Study

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Shutterstock

Almost every day, some organization releases a report ranking U.S. cities. Best cities for buying a home. Best cities to start a restaurant. Best cities to raise a family.

I’m typically a bit wary of such studies because the methodology can seem sort of random. Remember when Condé Nast Traveler ranked Philly the second-best shopping city in the world — ahead of Milan, Paris and New York? I love Walnut Street as much as the next person, but it’s safe to say that such rankings don’t always ring true.

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1,250 New Manufacturing Jobs if “Eds & Meds” Buy Local, Says Report

City Controller Alan Butkovitz has a new plan to create manufacturing jobs. Photo Credit: Curtis Blessing

Buy local says City Controller Alan Butkovitz. Photo Credit: Curtis Blessing

 

City Controller Alan Butkovitz has an ambitious plan to bolster the city’s manufacturing sector: Get anchor businesses like hospitals and colleges to buy local.

If they did buy medical supplies, refrigeration equipment or office supplies from local firms, it would create 1,250 new manufacturing jobs in the city, according to a new report issued from Butkovitz’s office. It even says that such a plan would generate 4,000 indirect jobs and have a total economic impact of $292 million for Philadelphia.

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Airport Expansion Is Big for Philly Economy

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Shutterstock

Now that a long-awaited settlement between the Philadelphia International Airport and neighboring Tinicum Township is a done deal, it’s an interesting time to examine the potential economic impact of the airport’s expansion plan.

It features an extended runway to accommodate larger planes; a new “automated people mover system;” a consolidated rental car area to cut down on traffic; and a redesign to Terminals B and C (which I know from personal experience can get very busy).

Airport officials have been saying for quite some time that the economic impact of PHL would grow from $14.4 billion annually to $26.4 billion in 2025. CEO Mark Gale says he plans to release updated figures in the future.

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Philadelphia Economic Growth Among Worst Worldwide

Photo credit: Daniel Ge via Flickr.

Photo credit: Daniel Ge via Flickr.

The Philadelphia metro area was ranked 250th for economic growth from 2013 to 2014 in a survey by the Brookings Institution of the world’s 300 biggest metropolitan economies.

Ouch. That’s in the bottom 20 percent.

The report also says our region has not recovered from the recession, determined by the fact that our GDP per capita and employment were lower in 2014 than in 2007. Only 60 other metros in the world have failed to recover in either indicator.

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It’s Not Just the Sixers: Jersey Is Paying Big to Lure New Jobs

Photo | Mel Evans

Photo | Mel Evans

There’s been some grumbling locally this week about New Jersey’s $82 million package to lure the Sixers headquarters and practice facilities to Camden. That’s part of a broader strategy by Jersey Gov. Chris Christie to lure jobs to the state through massive subsidies: He’s granted $4 billion in such subsidies during his governorship — up from $1.2 billion granted by the state the 10 years before he took office.

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Pennsylvanians Too Stoned to Go to Work

Ever wish you could skip work and spend the day in a blitzed-out haze of pot smoke, junk food, and giant-screen plasma televisions? If you’re in Pennsylvania, the answer is: Of course!

At least, that’s what we make of a new survey of 200 manufacturers from the Pennsylvania Manufacturers’ Association. Its bottom line: One-third of all applicants for “good paying jobs” end up ineligible for work because they won’t take a drug test … or because they did take the test and failed.

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Philly Benefits From Energy Boom. But Is It Safe?

A series of stories today that paint a big and complex picture: Philadelphia is benefitting from an “energy boom”—refineries in danger of being shuttered a couple of years ago are now back at work. But getting the raw materials here—oil and gas—remains a tricky, even scary proposition.

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