New Program Aims To Lure Suburban Businesses To Philadelphia
PHILADELPHIA (CBS) -- Philadelphia is trying to reverse a decades-old trend of businesses relocating outside the city. It's offering incentives to suburban businesses to open an office within the city limits. The program is called Gateway Philly.
With the residential market downtown booming, Mayor Jim Kenney says he hears a frequent lament from neighbors doing a reverse commute.
"[They say] 'I wish we had a location here in Philadelphia,'" Kenny said. "They would rather just walk to work or bike to work or take the subway."
Kenney says he's getting their cards now because he has an offer to make their employers: Open an office with at least 20 employees, sign a one-year lease and at the end of that year, the city will reimburse the company -- $1,000 per employee, up to $30,000.
"It's basically kind of the test drive of our city so they come in and see how it goes," the mayor said. "And I'm sure it will go very well and hopefully they'll decide to move more folks in here.
Kenney notes that with steady reductions to the wage tax, the tax gap between city and suburbs is at its lowest point in 15 years.
The rules and online application are on the City of Philadelphia website.
