Philadelphia Businesses
Philadelphia businesses*** range from Fortune 500 corporations*** to innovative startups, from century-old institutions*** to emerging industries. As the economic center of the Delaware Valley region and the sixth-largest metropolitan economy in the United States, Philadelphia hosts major companies in healthcare, pharmaceuticals, financial services, telecommunications, food and beverage, education, and professional services***. The city's business landscape reflects its history as a commercial center since colonial times, its evolution through industrialization, and its modern transformation into a knowledge economy and corporate headquarters city.[1]
Major Corporations[edit | edit source]
Fortune 500 Companies[edit | edit source]
Philadelphia-headquartered Fortune 500:
- Comcast*** - Telecommunications/media (#29)
- Aramark*** - Food service/facilities
- Crown Holdings*** - Packaging
- Lincoln National*** - Insurance
- ***AmerisourceBergen*** - Pharmaceutical distribution
- CIGNA*** (Bloomfield, CT HQ but major Philadelphia presence)
Major Employers[edit | edit source]
Largest employers:
- Federal Government
- City of Philadelphia
- University of Pennsylvania
- Comcast
- Jefferson Health
- Temple University Health System
- Children's Hospital of Philadelphia
- Independence Blue Cross
Industry Sectors[edit | edit source]
Healthcare and Life Sciences[edit | edit source]
Major presence:
- Hospital systems:*** Penn Medicine, Jefferson Health, Temple Health
- Pharmaceuticals:*** Research and manufacturing
- Biotech:*** Growing sector
- Medical devices:*** Development and production
Philadelphia's eds and meds*** sector is among the nation's largest.
Financial Services[edit | edit source]
Key players:
- Vanguard*** (Malvern, PA - suburbs)
- ***Lincoln Financial***
- ***Independence Blue Cross***
- Banking and insurance firms
- Investment management
Telecommunications and Media[edit | edit source]
Centered on Comcast:
- Comcast/NBCUniversal
- Media production
- Cable and internet services
- Technology development
Food and Beverage[edit | edit source]
Tradition and growth:
- Aramark - Food service
- ***Campbell Soup*** (Camden, NJ area)
- Tastykake (now Flowers Foods)
- Craft beverages (breweries, distilleries)
- Restaurant industry
Professional Services[edit | edit source]
Consulting and services:
- Major accounting firms (Big Four presence)
- Law firms
- Management consulting
- Architecture and engineering
Historic Industries[edit | edit source]
Manufacturing Legacy[edit | edit source]
Historical importance:
- Shipbuilding (Navy Yard)
- Textiles
- Printing and publishing
- Steel and metalworking
- Chemical production
Much manufacturing has declined, but some continues.
Current Manufacturing[edit | edit source]
Remaining activity:
- Pharmaceutical production
- Food processing
- Specialty manufacturing
- Industrial equipment
Innovation and Startups[edit | edit source]
Startup Ecosystem[edit | edit source]
Growing scene:
- University City innovation
- Center City tech
- Life sciences startups
- Fintech development
Incubators and Accelerators[edit | edit source]
Support organizations:
- Science Center
- Pennovation Center
- 1776 (co-working)
- University programs
University Spinoffs[edit | edit source]
Academic commercialization:
- Penn discoveries
- Temple innovations
- Drexel research
- Hospital system spinoffs
Business Districts[edit | edit source]
Center City[edit | edit source]
Downtown:
- Corporate headquarters
- Professional services
- Financial services
- Retail and hospitality
University City[edit | edit source]
Innovation:***
- Life sciences
- Healthcare
- Technology
- Research institutions
[edit | edit source]
Development:
- Corporate campuses
- Redevelopment zone
- Growing business district
- Mixed-use development
King of Prussia (Suburbs)[edit | edit source]
Suburban business:
- Major corporate presence
- Retail center
- Accessible location
- Growing employment
Small Business[edit | edit source]
Neighborhoods[edit | edit source]
Local business:
- Retail corridors
- Restaurants and services
- Professional offices
- Community anchors
Entrepreneurship[edit | edit source]
Support:
- Small business development centers
- City programs
- Microfinance
- Community development
Economic Development[edit | edit source]
City Initiatives[edit | edit source]
Programs:
- Tax incentives
- Workforce development
- Infrastructure investment
- Business attraction
Regional Competition[edit | edit source]
Context:
- Competing with other metros
- Delaware Valley cooperation
- Suburban dynamics
- Interstate competition
Major Real Estate[edit | edit source]
Office Towers[edit | edit source]
Significant buildings:
- Comcast Center and Comcast Technology Center
- One Liberty Place
- Two Liberty Place
- Centre Square
- BNY Mellon Center
Development[edit | edit source]
Current trends:
- Market Street development
- Schuylkill Yards
- Navy Yard expansion
- Mixed-use projects
Challenges[edit | edit source]
Taxes[edit | edit source]
Business concerns:
- Business income tax rate
- Wage tax
- Tax reform debates
- Competitiveness concerns
Workforce[edit | edit source]
Issues:
- Skills gaps
- Education attainment
- Workforce development
- Transportation access
Infrastructure[edit | edit source]
Needs:
- Transportation maintenance
- Technology infrastructure
- Public services
- Investment requirements
Future Outlook[edit | edit source]
Growth Sectors[edit | edit source]
Promising areas:
- Life sciences
- Technology
- Healthcare
- Clean energy
- Creative industries
Transformation[edit | edit source]
City evolution:
- Knowledge economy growth
- Innovation district development
- Workforce changes
- Economic diversification
See Also[edit | edit source]
References[edit | edit source]
- ↑ "Greater Philadelphia". Select Greater Philadelphia. Retrieved December 31, 2025