OFFICIAL ECONOMIC DEVELOPMENT STRATEGY FOR GREATER PHILADELPHIA RELEASED

The Delaware Valley Regional Planning Commission (DVRPC) has released an official comprehensive economic development strategy for the Greater Philadelphia Region. Entitled the Greater Philadelphia Regional Economic Development Framework, it draws on the research and recommendations of over 30 different economic development studies to create a collective regional vision.

Created in partnership with Select Greater Philadelphia and Ben Franklin Technology Partners, the document was recently accepted by the Economic Development Administration (EDA) as the region's Comprehensive Economic Development Strategy (CEDS). This designation means that economic development projects in the region are eligible for EDA funding.

It is important to note that this strategy will not replace a community's existing CEDS. However, certain parts of the region that are not coverered can now use this designation to seek economic development support for projects consistent within the scope of this regional strategy.

“There is a lot of collaboration among many organizations in economic development planning, and there is a collective vision that emerges when these efforts are viewed as a whole,” said DVRPC Executive Director, Barry Seymour. “DVRPC was proud to lead such a high-profile project in order to help Greater Philadelphia become more sustainable and economically competitive.”

The strategy sets 11 goals to guide future investments and economic development efforts. They include:

• Focus growth in recognized centers of development.
• Create appropriate jobs in distressed areas and for populations most in need.
• Create jobs that match workforce supply.
• Support and promote the growth of key economic sectors, including those related to the emerging “green economy.”
• Reduce greenhouse gas emissions.
• Enhance the climate for business growth.
• Invest in public infrastructure.
• Foster a high-quality, productive labor force.
• Increase innovation and new business formation.
• Improve, enhance, and celebrate the high quality of life in Greater Philadelphia.
• Expand the Greater Philadelphia region's connections to the global economy.

“This regional collective strategy is important to the long-term success of Greater Philadelphia as a premier business location,” said Tom Morr, President and CEO of Select Greater Philadelphia. “It builds on all of the recent research and planning by numerous organizations in our tri-state area.”

“This framework will help Greater Philadelphia build an even stronger regional economy as we emerge from the current economic recession,” said Morr.

The document outlines objectives and performance measures for each of the goals. It also includes a list of almost 100 key projects identified by the region's economic development professionals as likely to contribute towards attaining the CEDS' goals. Projects must be included on the CEDS project list in order to be considered for EDA funding under its public works, economic adjustment, and most planning programs.

"This CEDS report is the first produced across our tri-state region. It opens the door to federally-funded, collaborative initiatives across our borders," said RoseAnn B. Rosenthal, President & CEO, Ben Franklin Technology Partners of Southeastern Pennsylvania.

The Framework covers an 11-county tri-state area, including Bucks, Chester , Delaware , Montgomery, and Philadelphia counties in Pennsylvania ; Burlington , Camden , Gloucester , Mercer, and Salem counties in New Jersey ; and New Castle County in Delaware . The strategy reiterates the policies and strategies embodied in the Commonwealth of Pennsylvania 's Keystone Principle for Growth, Investment, and Resource Conservation, which state general goals and objectives for economic development and resource conservation and were agreed upon by 23 state agencies.

The Framework is also consistent with the economic growth strategies touted by New Jersey 's Office of Economic Growth and Delaware 's Economic Development Office. In addition, many goals mirror those of DVRPC's Connections Long-Range Plan.