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In Philadelphia, World Class Means Sustaining Growth - Temple University | Mike Persico
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Growth Areas
Advanced Manufacturing and Materials
An historic pillar of Pennsylvania industry, manufacturing remains an important part of the state's economy. With a robust infrastructure for shipping, and intellectual capital coming from the state's colleges and universities, Pennsylvania manufacturers have adapted to remain competitive in key industries of the future.
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Business Services
As industries and companies scramble to adapt to the global and technological realities of commerce in the 21st century, the business of business services is big in Pennsylvania.
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Energy
While the game might be changing, Pennsylvania is still leading the pack in the energy industry. PA is investing $650 million to expand the state's sector with a focus on alternative fuels, clean energy sources, new technologies and energy efficiency. PA also ranks among the national leaders in job creation and capital investment produced by energy projects. There are 5,000 manufacturers across the Commonwealth contributing to the sector, including a burgeoning class of biofuels companies.
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Entertainment Technology
As the video game and entertainment technology industry continues its exponential growth, software and game platform developers are thriving in Pennsylvania, where schools like Harrisburg University of Science & Technology and CMU are leading the charge.
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Entrepreneurship
The huge flow of research dollars into universities in Pennsylvania guarantees one part of the equation of successful entrepreneurship: creation of bright ideas to answer life's many challenges. Over the last decade and more, Pennsylvania has cultivated the other part of the equation: a business landscape where seeds of enterprise enjoy a chance to grow.
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Financial Services
With a gross state product near $500-billion a year, the sixth largest in the U. S., there's more than enough capital inside Pennsylvania's borders to attract and maintain a diverse financial services industry.
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High Technology
Between Pennsylvania's robust business incubation and development programs, world-famous university talent, and progressive energy and electronics companies, the high technology industry in the Commonwealth is growing quickly.
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Higher Education
It's no secret that some of the most innovative, profitable technologies coming to market nowadays are incubating in colleges and universities. This is especially true for Pennsylvania, where research and development programs are setting the bar for schools nationwide.
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Life Sciences
Pennsylvania enjoys a climate for life science enterprises that extends across the state. Its vitality is visible in companies participating in many stages of development of biotech products and life sustaining services--from mature, globally active enterprises to emerging companies launching first-to-market technologies.
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Robotics
Devices that make complicated, self-directed decisions receive a lot of attention in Pennsylvania. All the research universities in the state study robotics, but the leader in Pennsylvania--and the United States--is in Pittsburgh, where Carnegie Mellon University's Robotics Institute more or less invented the science of field robotics.
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Social Media
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Sustainability
Pennsylvania's goal is to create a partnership between economic growth and environmental conservation--activities once thought to be polar opposites. But as energy prices rise, emphasis is going to efficient infrastructure and development, a goal that goes hand in hand with environmental conservation and sustainable land use.
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Venture Capital
Innovation starts with venture capital, and in Pennsylvania, an increasing number of established firms like Edison Venture Fund and EnerTech Capital, as well as Ben Franklin Technology Partners, are choosing to invest in early- and expansion-stage technology companies.
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