Philadelphia's economy is as diverse as the population that inhabits the city. In Old City, the 'Third Street Corridor', from 3rd and Chestnut Streets to Vine Street, is home to many locally owned businesses contributing to art, design and fashion industries. The Philadelphia Stock Exchange, the oldest one in America, has been in operation since 1790. In addition, the city is host to several Fortune 500 companies, including Comcast (one of the nation's largest cable television providers), CIGNA insurance, Aramark, and Lincoln Financial Group. The University of Pennsylvania and Urban Outfitters are the largest employers. In the region there are approximately 50 higher educational institutions making Philadelphia a large 'college town'.
Dating back to the city's roots as the nation's first capital, the federal's government presence is also strong in Philadelphia. A U.S. Mint is located near Philadelphia's historic district and the Philadelphia division of the Federal Reserve Bank is close to that. Thanks to this governmental presence the city plays host to a large number of prestigious law firms and is considered one of the nation's centers of law.
The Pennsylvania Railroad, once the largest railroad company in the world, continues to influence Philadelphia's economy under the Amtrak name. Amtrak's second-busiest station, 30th Street Station, is on the west bank of the Schuylkill River and employs many Philadelphians in customer service, engineering, accounting, and IT jobs at the station.
Finally, many medical schools, pharmaceutical companies, and medical technology firms make their homes in and around Philadelphia, arguably making it the nation's healthcare capital.
The Most Frequently Asked Travel Questions about Philadelphia
Where To Stay & Best Hotels in Philadelphia - updated May 2024
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Philadelphia Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.
