Select Provides Update on Progress and Impact on the Region

Select Greater Philadelphia (Select) recently provided its investors with a third annual update on its progress as a champion for regional economic growth in Greater Philadelphia, as well as some insight into future plans. Select also formally kicked off its second fundraising campaign since the non-profit organization launched in 2003. So far, Select has helped bring 26 companies to the Greater Philadelphia region, with an associated 2,486 total projected jobs, and continues to build the economy of the region through its marketing campaigns and newly revamped Web site: www.selectgreaterphila.com, promoting Greater Philadelphia as premier business location.

Although Select has been in its “quiet” fundraising phase until now, it has already raised over $9 million from original investors who have pledged their support for yet another four years. According to Thomas G. Morr, president and CEO of Select Greater Philadelphia, “We've received tremendous feedback and support from our community of investors and no one with whom we have met has said no. I'm even happier to report that 25% of original investors have decided to increase their investment in Select, and, therefore, the economy of Greater Philadelphia.” Select's fundraising allows the economic development organization to continue and expand upon its efforts in marketing the Greater Philadelphia region. From January 2004 through September 2007, Select has generated measurable progress, including:

• Total Prospects and Leads: 272
• Active Prospects and Leads: 136
• RFIs and RFPs Submitted: 289
• Site Consultant Meetings: 241
• Marketing Missions: 46
• Business Referrals to County Economic Development Offices: 86
• General Business Referrals: 47
• Recruited Local Leaders to Serve as Ambassadors: 400
• Media Assists: 198
• Web Downloads: 109,160

Select also reported that the majority of prospects are from a diverse group of industries, including alternative energy, life science, chemicals, technology, film production and vendors, manufacturing, food processing, and logistics. Added Morr, “Even within these clusters, the companies locating in the region are especially diverse. For example, within the alternative energy cluster, this region is now home to those focused on solar power, bio-fuel, and wind energy companies.

What's New?

Some other recent accomplishments include:

• Launched an eye-catching life science media campaign, including a “talking” advertisement, and a microchip with the voice of David Stout's, president of global pharmaceuticals for GlaxoSmithKline;
• Created an Ambassador DVD used to recruit 400 local leaders who help promote the Greater Philadelphia region as a business location;
• Published the second annual regional report and distributed over 12,500 copies;
• Conducted an in-depth research study on higher education in the region; and
• Spearheaded an effort to improve technology transfer through a commissioned research study and action plan.

In addition to expanded efforts to recruit new businesses to Greater Philadelphia, outreach to potential new investors and continued fundraising, Select also plans to identify new ways to serve as a valuable resource to those within and outside of the Greater Philadelphia region. Work is currently underway: to develop a new electronic communication tool to reach the site selector community and business prospects, to further enhance Select's Web site, and to study additional sectors of the Greater Philadelphia's regional economy. For up-to-date information on what's happening at Select Greater Philadelphia, visit: www.selectgreaterphila.com .

Select Highlighted by Philadelphia Business Journal

The Philadelphia Business Journal published two recent pieces on Select's fundraising efforts and overall positive impact on the region. One article was based on an interview with Hugh C. Long II, Select's Chairman and CEO of the North Region for Wachovia Corp. The second brief highlighted Select's investor briefing on November 8 (mentioned above.) Select has had significant success so far in building cooperation amongst the 11 county economic development organizations, providing data and other support for companies considering a location in the region, organizing trade missions to promote the region in other parts of the world and working daily to attract new companies to Greater Philadelphia.

Select's BUSY Business Development Team

During the months of September and October, Select's Business Development group dedicated a great deal of time to national travel to meet with the site selection community.  These site consultants are a source of large prospects and repeat business, so it is crucial for Select to expand and continue to build upon this relationship.  Representatives of Select attended the International Economic Development Council's Annual Meeting in Scottsdale, AZ; the Industrial Asset Management Council's Fall Forum in St. Louis, MO; the Roundtable in the Desert in Tucson, AZ; and the Corenet Global Atlanta Summit.  During these targeted missions to market the Greater Philadelphia region, Select had the opportunity to meet with over 30 site consultants to introduce the entire business development team and explain what Select has to offer. These missions were a great success, and the team will continue its outreach to the site selection community to ensure that Select Greater Philadelphia and the region are top of mind for their client's business location needs. To reach Select's business development team, please email Jeanne O'Connor or call (215) 790.3726.

About Select Greater Philadelphia

Select Greater Philadelphia is an economic development marketing organization dedicated to building the economy of the Greater Philadelphia region. It is a private, non-profit organization that focuses its resources on enhancing the profile and image of the region's business community in order to attract businesses. Select Greater Philadelphia markets the region nationally and globally in order to establish Greater Philadelphia as a top-tier place to do business. The Greater Philadelphia region encompasses northern Delaware , southern New Jersey and southeastern Pennsylvania . Select Greater Philadelphia is an affiliate of the Greater Philadelphia Chamber of Commerce, in partnership with the Chamber of Commerce Southern New Jersey and the New Castle County Chamber of Commerce. For more information, visit www.selectgreaterphiladelphia.com