The Real Estate Tax “Senior Freeze” Program

The Philadelphia Department of Revenue is encouraging low income senior citizens to apply now for the Low Income Senior Citizen Real Estate Freeze program. Under the program, the City will “freeze” the applicant’s real estate tax for the
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Yellen Nominated to Succeed Federal Reserve Head Bernanke

President Obama, standing with Janet Yellen, vice chair of the Board of Governors of the Federal Reserve System, and outgoing Federal Reserve Chairman Ben Bernanke, announces October 9 that Yellen is his choice to succeed Bernanke as head of the nation's powerful central bank. Obama praised Bernanke, (more...)

Mayor Nutter To Lead Trade Mission To United Kingdom And Israel

Mayor Michael A. Nutter announced that he will lead a trade mission to the United Kingdom and Israel next month in order to attract investment from international companies in Philadelphia and to assist Philadelphia companies with trade opportunities in these two key marketplaces.  Mayor Nutter will be joined (more...)

New Cost-Benefit Study Shows Increased Value For Sale Of PGW

The City of Philadelphia released a cost-benefit study, authored by its financial advisor, that estimates a sale of the Philadelphia Gas Works (“PGW”) could generate net sales proceeds in the range of $422 million to $872 million for the City of Philadelphia. These funds would be used to bolster the (more...)

Treasury Secretary Lew on U.S. Economy

Statement of Secretary Lew “We welcome the bipartisan action Congress is taking to resolve this crisis, re-open the government, and lift the cloud of uncertainty hanging over the economy. Over 224 years, the United States has established our credit as the strongest in the world. The United States (more...)

US Government Has Partially Shut Down

US government has partially shut down after the two houses of Congress failed to agree to a new budget. “They have shut down the government over an ideological crusade to deny affordable health insurance to millions of Americans.  In other words, they demanded ransom just for (more...)

Philadelphia Welcomes Latest Fast-Growing Company

Brand.com to add 100 new jobs this year Mayor Michael A. Nutter officially welcomed Brand.com, an online reputation management firm, to Philadelphia as the company showed off its new corporate headquarters located in the Curtis Center in Center City.  Brand.com is a fast-growing company and expects to (more...)

How To Repurpose Closed School Properties In Philadelphia?

School Reform Commission approves new school disposition policy Mayor Michael A. Nutter and Superintendent Dr. William R. Hite announced today that the City of Philadelphia will partner with the School District of Philadelphia to manage the revised Adaptive Sale and Reuse Policy for schools closed (more...)

City Of Philadelphia: Telephone Town Hall Meetings On Property Taxes

The City of Philadelphia will host two Telephone Town Hall meetings to discuss property taxes.   City officials will answer caller questions about the Actual Value Initiative and property tax relief programs, including the Homestead Exemption. “This year, the City’s new fair, accurate and understandable property tax (more...)

Local Road Repairs and Building Projects Go Undone in Pennsylvania

Hearing highlights local financial problems and the costs to taxpayers Pennsylvania’s prevailing wage laws costs jobs, taxes and economic development according to municipal officials who testified before the House Labor and Industry Committee Thursday in State College.  Rep. Stephen Bloom (R-Cumberland), who presided over the meeting, said reform (more...)

Economic Indicators Show Continued Slow, but Steady U.S. Growth

By Stephen Kaufman Staff Writer Recent economic indicators offer evidence that the U.S. economy continues to grow at a moderate pace following the global recession that began in late 2007. On July 31, the U.S. Department of Commerce announced that the U.S. gross domestic product (GDP), which is the broadest (more...)

Environmental Care Creates Economic Growth

By Charlene Porter Staff Writer Environmental protection is good for the economy and creates jobs, according to decades of national experience. The United States’ new top environmental officer says those facts should end the nation’s decades-long debate on a “false choice” — the assertion that environmental protections inhibit (more...)

Supporting Small Businesses and Building the New Silk Road

This blog post by Deputy Assistant Secretary of the Treasury for Europe and Eurasia Christopher Smart originally appeared July 23 on the U.S. Department of the Treasury website. There are no republication restrictions for use by U.S. embassies. Supporting Small Businesses and Building the New Silk Road By: Christopher (more...)

Secretary Lew: Put Job Creation at Heart of Global Recovery

This commentary by U.S. Treasury Secretary Jack Lew addresses finance ministers and central bank governors. It originally appeared in the Financial Times on July 18. There are no republication restrictions for use by U.S. embassies. Put job creation at the heart of the global recovery By Jack Lew The G20 must (more...)

Building an Economy of Steel

Between 1880 and 1920, half a million Slovaks immigrated to the United States, many to Pittsburgh, to work in the steel and coal industries. So it is fitting that when Slovakia’s East Slovak Ironworks went bankrupt in 2000, the U.S. Steel Corporation of Pittsburgh acquired it. (more...)

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