PHILADELPHIA, April 26, 2012 /PRNewswire-USNewswire/ -- Select Greater Philadelphia was named by Site Selection Magazine as one of the nation's top 10 economic development groups of 2011. The organization was honored at the Industrial Asset Management Council's Spring 2012 Professional Forum at the Hyatt Regency Lost Pines Resort and Spa in Austin, Texas on Monday, April 23rd.
"We are delighted to receive Site Selection Magazine's designation as one of the Country's top economic development groups," said Tom Morr, President & CEO of Select Greater Philadelphia.
"Site Selection Magazine covers the economic growth programs across the nation so this recognition from the publication is very meaningful."
"We are particularly pleased that this award validates the Greater Philadelphia business community's investment in Select." Morr added, "We are grateful to these investors who created Select Greater Philadelphia. It's their dedication and commitment that make our work possible."
Local economic development groups were ranked according to four objective categories: new jobs, new jobs per 10,000 residents, new investment amount and new investment per 10,000 residents. They were then judged on more subjective attributes, among them innovation, leadership and customer service.
"This recognition follows the successful hosting last fall by Select Greater Philadelphia of the best-attended Industrial Asset Management Council event ever held," said Morr. "Thanks to everyone's hard work, leadership and support, Greater Philadelphia's economic development marketing effort is gaining traction and achieving results."
Select has worked with businesses, foundations, individuals and government partners to help locate 77 companies to the region with 3,329 direct jobs forecasted by 2014. 21% of these jobs are in the Information and Communications Technology sector and 17% are in Life Sciences. The direct jobs attracted by Select have an average salary of $83,000. In addition, collaborative business attraction and regional marketing efforts have resulted in a $637M annual direct increase in the area's Gross Regional Product.
Greater Philadelphia has a labor force with an unusually high level of education and training. In a region where over 22% of entry-level jobs required a bachelor's degree or higher in 2010, Greater Philadelphia has the talent today's businesses need -– with over 100 institutions of higher learning that provide the right workers for industries from pharmaceutical R&D to advanced manufacturing. Approximately 33% of residents 25 years and older in 2010 had a Bachelor's degree or higher well above the US figure of 28%.
About Select Greater Philadelphia
Select Greater Philadelphia (Select) is an economic development marketing organization dedicated to attracting companies to the Greater Philadelphia region. Select assists companies interested in the vicinity by providing detailed information about the 11-county area and a one-stop connection to numerous resources that help companies make informed decisions about locating to the region. The Greater Philadelphia region encompasses northern Delaware, southern New Jersey and southeastern Pennsylvania. Select is a private, non-profit organization and an affiliate of the Greater Philadelphia Chamber of Commerce. For more information, visit www.selectgreaterphiladelphia.com or call 215-790-3777.
SOURCE Select Greater Philadelphia