Campus Philly has released a comprehensive report titled “Philadelphia Renaissance” which not only provides statistics, but also the positives generated by a new diverse population of City residents who grow the economy, increase opportunities, drive innovation, stimulate change and challenge the traditional ways of doing things. Here’s how:
There has been a 115% increase in college – educated 25-34 year olds in Philadelphia between 2000 and 2017. This translates into 118,500 additional young degree holders. Our retention rate for regional college students is 54%; Boston’s is 42%.
This new population of residents greatly impacts the region’s economic growth. College degree holders demand greater salaries. Consequently, an additional $46.4 billion in earnings is generated annually in the region increasing city and state tax revenue by $394 million. This translates into investments in our infrastructure, public education and quality of life issues.
This overall impact affects job growth. 35,600 jobs have been created across almost every employment sector.