The Economy League of Greater Philadelphia released a good news/ bad news report today based on a round table discussion with 32 local business leaders on the state of the region’s economy. It concluded that Philadelphia is not feeling the impact of the recession as much as many other U. S cities because of the massive concentration of health care and educational institutions that the region is blessed, with has had softened the blow once again.

However, attendance at conventions is down and small businesses are feeling the credit squeeze.

Nevertheless, the Center City District, said that office occupancy rates in Center City were the highest ever in 2008 and inquiries from firms seeking information about relocating here have not fallen off.

And since Phialdelphia never really experienced the overheated housing market or a financial services’ boom, we will not suffer a “contraction as severe,” the report says. 

Conversely, the worst could still be coming, but then again maybe it won’t!  

Feel better?

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