PHILADELPHIA ANCHORS FOR GROWTH & EQUITY LAUNCH
Philadelphia is the poorest large city in the US, while being a home to several of the nation's best hospitals and universities. Each year these institutions spend over $5 billion on goods and services in contracts that could be channeled towards local businesses. Cities such as Baltimore, Chicago and Detroit have developed effective local purchasing strategies to leverage the power of institutions to create jobs and build wealth.
The Economy League, in partnership the City of Philadelphia, has been working with more than a dozen of Philadelphia's biggest institutions to implement a similar strategy in Philadelphia.
On November 28, the Economy League hosted over 170 nonprofit, government and business leaders at Drexel University to share how we are working with Philadelphia's hospitals and universities to localize $500 million in contract opportunities and create as many as 5,000 living-wage, middle-skill jobs for Philadelphia residents!