Greater Philadelphia Region to Develop Strategy for Global Competitiveness through U.S. EDA Grant

March 29, 2011

United States Department of Commerce News

Economic Development Administration

For Immediate Release

WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $150,000 grant to the Pennsylvania Economy League, Inc., of Philadelphia, Pa., to help fund a Global Positioning Strategy to strengthen the regional economy through the "World Class Greater Philadelphia" project.  The project is expected to facilitate the creation of new jobs and generate private investment through its involvement of regional leaders in charting the economy.

"The Greater Philadelphia region has been hard hit by the economic downturn," said U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez.  "This EDA grant will support a strategic plan to create new high-skill, living-wage jobs and increase our nation's global competitiveness."

"World Class Greater Philadelphia will educate, build capacity and generate consensus amongst key regional stakeholders to identify the things that need to be done, no matter what the future looks like, to ensure a prosperous, sustainable and authentic future for the Greater Philadelphia region," said Steven Wray, Managing Director of the Pennsylvania Economy League, Inc.

This EDA investment finances the implementation of a regional planning strategy that focuses on the goals of the 2009 approved Greater Philadelphia regional Comprehensive Economic Development Strategy (CEDS).  The "Global Positioning Strategy" will optimize the use of scenario planning in preparing for the future by prioritizing and testing economic strategies throughout an 11-county region in Pennsylvania, Delaware, and New Jersey.

About the U.S. Economic Development Administration (www.eda.gov):

The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation and accelerate long-term sustainable economic growth.