Few would argue the fact that Penn has become one of the most powerful high-tech engines of the Philadelphia region’s economy. In February, Philadelphia Mayor John F. Street confirmed that impression when he named President Judith Rodin CW’66 as chair of the fledgling New Economy Development Alliance, which is designed to attract high-tech businesses to the region.
“The mayor understands how important local colleges and
universities will be to the success of the City’s economic development future, and has asked me to bring together academic and business leaders to help with New Economy enterprises in Philadelphia,” said Rodin. “I have accepted the challenge because I believe we can succeed.” Other members of the board of directors include Jean-Pierre Garnier, CEO of Glaxo-SmithKline, and Brian L. Roberts W’81, CEO of Comcast Corporation.
Street told the Greater Philadelphia Chamber of Commerce that the city must forge new relationships with colleges, universities, businesses, and government to combine regional resources to create jobs and a high quality of life “that becomes the foundation for economic prosperity.” The Alliance, Rodin said, would develop a “coordinated, overall strategy that involves all of the research institutions in Philadelphia and the region,” adding that university research “provides the leverage” that convinces businesses to locate in Philadelphia. (One of the high-tech hubs envisioned by both Street and the University would be developed on the site of the U.S. Post Office at 30th and Market streets.) The Alliance will also encourage companies to locate in Keystone Opportunity Zones, which are exempt from most state and local business taxes.
