$50 Million For Economic Development In Southeast PA

U.S. Rep. Allyson Schwartz joined Philadelphia Mayor Michael A. Nutter and John Grady, President of Philadelphia Industrial Development Corporation (PIDC) today to announce that PIDC will receive $50 million through the New Markets Tax Credit (NMTC) program
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Licenses And Inspections Releases 2011 Annual Report

The Department of Licenses and Inspections has released its 2011 annual report, spotlighting the department’s improved basic service and new strategic programs in the past year. In FY2011, L&I issued 41,497 permits, performed 93,103 construction inspections and 91,938 operations inspections, and completed 1,487 clean and seals and 580 (more...)

Fixing Economy Key to U.S. Future, Former Officials Say

By Andrzej Zwaniecki Staff Writer The period after the November elections and into the first months of 2013 will be critical for the U.S. economic future as the president and new Congress face the challenge of laying a framework for major economic reforms, according to former U.S. policymakers and central bankers. The administration and legislators will (more...)

Mayor Nutter Delivers Budget Address

Fiscal Year 2013 Budget and Fiscal Years 2013 – 2017 Five Year Plan introduced to City Council Mayor Michael A. Nutter delivered his proposed Fiscal Year 2013 (FY13) Budget and Fiscal Year 2013- 2017 Five-Year Plan in his annual budget address to City Council. The Mayor’s proposed budget (more...)

U.S. Economy Adds Jobs, Continues to Recover

By MacKenzie C. Babb Staff Writer The U.S. economy added 227,000 new jobs in February while the unemployment rate remained unchanged from January at 8.3 percent, according to a Labor Department report that the White House says signals an improved job market and stronger economy. “Despite adverse shocks that have (more...)

U.S. Economy Grew More than Expected in 2011

By MacKenzie C. Babb Staff Writer The U.S. economy expanded more from October to December 2011 than originally reported, according to a revised estimate from the Commerce Department. “Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of (more...)

Treasury’s Geithner at G20 Meeting on Global Economy

U.S. Department of the Treasury Remarks by Treasury Secretary Tim Geithner at the G20 Meeting of Finance Ministers and Central Bank Governors MEXICO CITY - The risks to the global economy have diminished since the G20 last met in Cannes, but we still face significant economic challenges. The U.S. economy (more...)

Philadelphia Lost The Most Construction Jobs

According to the construction industry trade group, "Philadelphia lost the most construction jobs of all metro areas in the nation last year". " 4,800 construction jobs were lost in the Philadelphia area from Dec. 2010 through Dec. 2011.", the Associated General Contractors of America reported to local media. Philadelphia (more...)

About Middle Class, Medicare & Crisis

Washington, D.C.—U.S. Rep. Allyson Schwartz issued the following statement after the joint Senate-House conference committee signed a conference report to extend middle class tax cuts, extend unemployment assistance, and prevent cuts to the Medicare physician payment rate. “The Conference Committee has reached a bipartisan agreement to (more...)

Obama Promotes U.S. Trade

By Merle David Kellerhals Jr. Staff Writer

President Obama announced new measures to boost U.S. exports through sufficient financing as part of a broader goal he set two years ago to double U.S. exports in five years and help rebalance the economy, which has been driven by excessive consumer
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Panetta Presents $614 Billion Defense Budget Request to Congress

By MacKenzie C. Babb Staff Writer Defense Secretary Leon Panetta presented U.S. lawmakers with the Pentagon’s $614 billion budget request for the year starting October 1, a significant drop from last year’s request, representing cuts across the department intended to help reduce the U.S. deficit. Panetta said the United States (more...)

Budget to Cut Deficit, Support Economic Recovery

By MacKenzie C. Babb Staff Writer President Obama has sent to Congress his federal budget for fiscal year 2013, a White House road map for how the United States can “grow the economy, create jobs and give Americans everywhere the security they deserve.” Obama introduced his budget in a February (more...)

Bernanke Urges U.S. Leaders to Cut National Debt

By MacKenzie C. Babb Staff Writer Federal Reserve Chairman Ben Bernanke is calling on U.S. leaders to achieve economic and financial stability by putting the United States’ fiscal policy on a sustainable path that ensures steady reduction of public debt. Calling shrinking the U.S. deficit “a top priority,” Bernanke said (more...)

AstraZeneca Layoffs 7,300 More Workers

Pharmaceutical Company AstraZeneca is going to cut 7,300 more jobs in all branches worldwide, according to CBS News. AstraZeneca bases in London, but has facilities in Wilmington and Newark, Del. It will cut 7,300 more jobs " because of declining fourth-quarter profit and prospects for less revenue in 2012 (more...)

U.S. Unemployment Drops

By MacKenzie C. Babb Staff Writer The U.S. unemployment rate dropped to 8.3 % in January as private sector employment rose for the 23rd consecutive month, signaling a strengthening job market and an improved economy, according to Labor Secretary Hilda Solis. “January’s employment numbers exceeded all forecasts and provide the (more...)

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