While this was a good year for Philadelphia’s regional economy, next year could see Greater Philadelphia become even stronger, writes Joel Naroff for the Philadelphia Inquirer.
This year, employment growth in the region was higher than the national average, a rare occurrence over the last 25 years. And while Philadelphia lagged a bit, the surrounding area, including Chester and Delaware counties, has been doing well.
The housing market in the region is also enjoying good times, with median prices increasing in both the city and the surrounding counties.
There are also other areas that highlight the positive economy trends in the region, including Philadelphia being named the best place for millennials to live by Trulia.
The outlook for the area’s technology sector is extremely bright, with the soon-to-be-finished Comcast research building likely to be the catalyst for an influx of technology businesses.
There’s also growth in the healthcare sector, while the area’s central location provides a wide variety of transport options, making it ideal for warehouses and data centers.
This winning combination may help propel the region’s economic growth even faster.
Read more about the regional economy in the Philadelphia Inquirer by clicking here.