July 11, 2012
The research, conducted by Econsult Corporation, found that Philadelphia’s creative sector yields $5 billion in direct output and $2.7 billion in direct employee earnings. Previous reports commissioned by OACCE found that Philadelphia ranked 50 to 70% above the national standard for creative vitality, but only calculated employment for those engaged in creative occupations such as actors, artists, and architects. To understand the larger impact the creative sector has on Philadelphia’s economy, Econsult analyzed creative occupations as well as non-creative jobs at creative businesses. The report can be found on OACCE’s blog at: http://creativephl.org/post/25456082151/philadelphias-creative-sector-employment.
PIDC recognizes the important impact that the creative sector has on the City’s economy and has supported many creative sector businesses throughout all neighborhoods in Philadelphia. Since 2007, PIDC has worked with nearly 150 creative economy businesses and organizations on over $535M in financing transactions for a total of $1.5B in total project costs. Please visit our 2011 annual review to see how PIDC supported two of these organizations, the Center for Art in Wood and The Barnes Foundation, last year: http://pidc-pa.org/2011-pidc-annual-review/.
For more information on the creative sector and how PIDC may be of assistance, please contact Carol de Fries (non-profit organizations) at 215.496.8150 or and Susan Lowry (for-profit businesses) at 215-496-8161 or .