Resolution 110354

..Title Authorizing Council's Committee on Commerce and Economic Development to hold hearings on how the city can become more competitive in the global economic markets and reassert itself as a destination for international tourism, economic investment, export markets, job creation and cultural offerings. ..Body WHEREAS, In the previous century Philadelphia was the largest and most influential city in the Western Hemisphere; it was a center and major port and held a centennial exposition in recognition of its continuing place as an international industrial powerhouse. For years afterward, it continued to be a major manufacturing center and was one of the most prosperous of American cities; and WHEREAS, The local economy can and does benefit when it becomes an international city. Specifically, 55% of the 66 companies that Select Greater Philadelphia has helped locate here have come from overseas. A recent example is the Mark Group, a UK company that located to the Navy Yard in October, 2010. This energy efficiency company is expected to fill 320 jobs and occupy 75,000 square feet of space in three years; and WHEREAS, The World Trade Center of Greater Philadelphia worked with over 300 companies in 2010, helping them generate in excess of $147 million in incremental exports; and WHEREAS, Emerging markets are now growing at a faster rate than our own economy. Businesses, if they have not already, need to consider markets beyond the U.S. domestic market; and WHEREAS, The Philadelphia Flower show has become a signature event for the city. This past year 265,000 people attended, coming from places as far flung as Canada, Panama, Bermuda, Russia, Great Britain, France, Japan and Indonesia; and WHEREAS, Philadelphia is renown for its numerous health organizations including the Children's Hospital of Philadelphia which treats children from all over the globe; and WHEREAS, A wealth of international organizations, globally-minded citizens and other world-class resources exist in the city and region, yet they frequently work in isolation and often do not get the recognition that they deserve; and WHEREAS, The City and region risk being overlooked by decision-makers planning world events, business facilities, sporting venues, conferences, and where to live because they are erroneously perceived as not having sufficient international standing; and WHEREAS, Even in a time with scarce dollars, a more aggressive, more entrepreneurial, and more coordinated approach to attracting global resources will pay big dividends via an expanded economy and higher tax receipts; now therefore, BE IT RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That it hereby authorize Council's Committee on Commerce and Economic Development to hold hearings on how the city can become more competitive in the global economic markets and reassert itself as a destination for international tourism, economic investment, export markets, job creation and cultural offerings. ..End