Economy of Philadelphia in the context of "Liberty Bell"

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⭐ Core Definition: Economy of Philadelphia

The economy of Philadelphia encompasses the city of Philadelphia, the center of economic activity in both Pennsylvania and the four-state Delaware Valley metropolitan region of the United States. Philadelphia's close geographical and transportation connections to other large metropolitan economies along the East Coast of the United States have been cited as offering a significant competitive advantage for business creation and entrepreneurship. Five Fortune 500 companies are headquartered in the city. As of 2021, the Philadelphia metropolitan area was estimated to produce a gross metropolitan product (GMP) of US$479 billion, an increase from the $445 billion calculated by the Bureau of Economic Analysis for 2017, representing the ninth largest U.S. metropolitan economy. Philadelphia was rated by the GaWC as a 'Beta' city in its 2016 ranking of world cities.

Philadelphia has shifted to an information technology and service-based economy. Philadelphia and the Delaware Valley are a biotechnology hub. As of 2023, metropolitan Philadelphia had entered the ranks of the top five U.S. venture capital centers, facilitated by its proximity to New York City and its entrepreneurial and financial ecosystems. Financial activities account for the largest sector of the metro economy, and it is one of the largest health education and research centers in the United States. The city is also home to the Philadelphia Stock Exchange, owned by Nasdaq. Philadelphia's history attracts many tourists, with the Liberty Bell receiving over 2 million visitors in 2010.

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Economy of Philadelphia in the context of Philadelphia

Philadelphia (/ˌfɪləˈdɛlfiə/ FIL-ə-DEL-fee-ə), colloquially referred to as Philly, is the most populous city in the U.S. state of Pennsylvania. It is the sixth-most populous city in the United States with a population of 1.6 million at the 2020 census, while the Philadelphia metropolitan area (sometimes called the Delaware Valley) with 6.33 million residents is the nation's ninth-largest metropolitan area. Philadelphia is known for its culture, cuisine, and history, maintaining contemporary influence in business and industry, culture, sports, and music.

Philadelphia was founded in 1682 by William Penn, an English Quaker and advocate of religious freedom, and served as the capital of the colonial era Province of Pennsylvania. It then played a vital role during the American Revolution and Revolutionary War. It served as the central meeting place for the nation's Founding Fathers in hosting the First Continental Congress (1774) and the Second Continental Congress, during which the Founders formed the Continental Army, elected George Washington as its commander, and adopted the Declaration of Independence on July 4, 1776. During the Revolutionary War's Philadelphia campaign, the city fell to the British Army, which occupied Philadelphia for nine months from September 1777 to June 1778. Following the end of the Revolutionary War, the U.S. Constitution was ratified at the Philadelphia Convention. Philadelphia remained the nation's largest city until 1790, and it served as the nation's first capital from May 10, 1775, until December 12, 1776, and on four subsequent occasions until 1800, when construction of the new national capital in Washington, D.C. was completed.

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LINKED FROM (PARENTS)
← Philadelphia ← Philadelphia, Pennsylvania
LINKS TO (CHILDREN)
Comcast Technology Center → Center City, Philadelphia → Pennsylvania → List of tallest buildings in the United States → Philadelphia → Delaware Valley → East Coast of the United States → Entrepreneurship → Fortune 500 → Gross metropolitan product → Bureau of Economic Analysis → List of U.S. metropolitan areas by GDP → Globalization and World Cities Research Network → Global city → Information technology → Biotechnology → Venture capital → New York City → Entrepreneur → Wall Street → Philadelphia Stock Exchange → Nasdaq → Liberty Bell →