May 9, 2022 Contact: action@InclusiveGrowthPHL.org
Particularly during this recovery period, to grow our economy, reduce poverty, maintain quality services and make our city safer, it is imperative that we increase the number of gainfully employed people in Philadelphia – either working for themselves or for others.
The urgency of this moment cannot be understated. At no other time in recent history have we had a more pressing need and confluence of available options to do so. The City’s recent announcement regarding property tax increases will add additional revenue to the General Fund, even with the appropriate property tax relief measures. This, combined with a better than projected budget surplus made possible by the American Rescue Plan, as well as reasonable economic growth estimates, presents the rarest of opportunities to aggressively invest in creating good-paying jobs, growing local businesses, and generating more revenue for City services going forward.
The facts lay to bare - Philadelphia is being outpaced in terms of job creation and has fewer business establishments per capita than comparable cities. These factors contribute to significantly less money being circulated locally, which is exacerbated by rising inflation, interest rates and other costs on individuals and businesses - including property taxes.
However, we can reverse these statistics and their effects by substantially reducing the city’s “highest in the nation” tax on workers and the onerous double tax on enterprising people who run businesses. Essentially, giving these hard-working Philadelphians a raise at this critical time. This is money that business owners can use to recover, grow and hire, and that local workers can utilize for their personal needs thereby bolstering our local economy.
If Philadelphia is to realize true inclusive growth and change its designation as the largest, poor city in America, we must have the forethought and fortitude to reverse our decades-long declining job and business viability. The time is now to “Give Philly a Raise” and invest in our workers, our businesses and our city.
“Creating jobs and growing local businesses are simply the best investments we can make in our future - more people making more money. If Philadelphia is to realize true inclusive growth and change its designation as the largest, poor city in America, we must have the forethought and fortitude to reverse our decades-long declining job and business viability.”
Sue Jacobson, Chair, GPCC firstname.lastname@example.org
“We as a city should emphasize the importance of investing in diverse businesses and that includes taking an in-depth look at the effects policies, such as tax reform and contracting requirements have on our diverse businesses. More specifically with tax reform that provides relief from burden on small business, especially black and brown businesses.”
Regina A. Hairston, Pres. & CEO, African American Chamber of Commerce PA, NJ, DE email@example.com
“Philadelphia’s small business sector is on life support. Our city ranks at the bottom of comparable cities for many key indicators of economic health, whether it is the cost of doing business, ease of doing business, business creation, or job growth. A reduction in business taxes would be an important first step in improving our business climate and a demonstration that the City supports entrepreneurs.”
Jennifer Rodriquez, Pres & CEO, Greater Philadelphia Hispanic Chamber of Commerce firstname.lastname@example.org
“Our members love Philadelphia. They want to continue working and growing with this City. Small Businesses are the backbone of our economy and investing in the community through its small businesses is the best way to realize inclusive growth and encourage sustainable development. It is time to give Philly a Raise.”
Khine Zaw, Pres & CEO, Asian American Chamber of Commerce of Greater Philadelphia KZaw@asianchamberphila.org
“We believe in the City of Philadelphia. Our LGBTQ+ community and businesses know it is a world class city and they want to stay here and be successful. They, and all of our diverse business enterprises, deserve investment as part of the values that our latest budget will represent. Our city can substantially improve its economic standing with business-friendly initiatives and policies that simultaneously focus on ways to combat crime, blight, and high costs of doing business in our City.”
Zach Wilcha, Pres & CEO, Independence Business Alliance (LGBTQ Chamber) email@example.com