In conjunction with the 2015 World Class Summit, the Economy League released Expanding Opportunity, an exclusive online analysis examining ways in which advancing the World Class agenda can expand opportunity across Greater Philadelphia’s many communities while driving economic growth at the regional level.
Take a closer look at the ways in which we can expand opportunity and drive growth in Greater Philadelphia through the World Class agenda.
The twin challenges of rising inequality and stagnating mobility threaten the long-term health of the US economy and the promise of the American Dream. It’s all too easy to forget, as we’re debating the merits of various development and growth strategies, that, ultimately, our economy is made up of people – individuals and families working to make a better life for themselves and for the next generation. Which is why, if we care about the future of Greater Philadelphia, we must be sure to care about all of its citizens, ensuring that, when we move ahead, we move ahead together.
SUPPORTING UNDERSERVED ENTREPRENEURS
More than ever, smart economic development is focused on ways to support entrepreneurship and stimulate the kind of job growth that young firms bring to a healthy regional economy. With nearly all of net job creation in the US coming from firms less than five years old, entrepreneurship has rightly become a regional growth priority for Greater Philadelphia.
EDUCATION & TALENT DEVELOPMENT
MOVING WORKERS FROM LOW-WAGE JOBS TO FAMILY SUSTAINING CAREERS
Fifteen million workers in the US earn less than $10 an hour, more than half of whom are over the age of 25. While fast food or retail often come to mind when we think of low-paying jobs, the reality is that many sectors, including healthcare, education, childcare, and manufacturing, have large numbers of low-wage jobs. And though most low-wage workers have limited formal education, around 40 percent have at least some post-secondary education. Too many of these workers are stuck, moving between low-wage jobs and unable to gain a foothold that allows them to move up.
EXPANDING TRANSPORTATION ACCESS
As the literal link between people and jobs, transportation plays a critical role in enabling access to opportunity.
In Greater Philadelphia, a rich legacy of prior investments has endowed us with extensive transportation infrastructure assets. However, many of the region’s roads, transit routes, and rail lines – designed and built during a different era – are ill-equipped for today’s commuting volumes and patterns.
EXPANDING OPPORTUNITY PRESENTATIONS FROM THE 2015 WORLD CLASS SUMMIT
A presentation by Amy Liu, The Brookings Institution
A presentation by Steve Wray & Josh Sevin, Economy League of Greater Philadelphia