Mayor Kenney’s “Growing with Equity: Philadelphia’s Vision for Inclusive Growth”
Philadelphia Mayor Jim Kenney recently unveiled his new plan for economic growth in Philadelphia, emphasizing the need for all-inclusive growth for all of Philadelphia’s residents. We’re here to break down the plan for you:
The Agenda: “Growing with Equity” is Kenney’s plan that ensures Philadelphia attracts employers that are as diverse as the residents of its city. During this new trend of population growth and job creation, Kenney wants to further the momentum to reach every citizen, in every part of the city, to ensure that those still that are still struggling despite the city’s growth, are getting the help they need to reenter into the economy.
The Goals: The “Growing with Equity” plan focuses on three major points as a strategy for advancing growth: jobs, talent, and neighborhoods. There are several strategies aligned with each other the three goals, but we’ll give you the most notable ones.
Goal I: “Grow the economy to create family-sustaining jobs for all Philadelphians”
Subbullets to this point include things like establishing a Business Acceleration Team, eliminating Business Income and Receipts Tax filing for small businesses, and generally expanding entrepreneurial efforts that support people of color, women, and immigrants.
Goal II: “Prepare Philadelphians for jobs that pay family-sustaining wages”
A modern problem that requires modern solutions, Philadelphia’s plan for investing in it’s citizens in this way is an emphasis on quality Pre-K and K-12 systems, growing industry partnerships and apprenticeships, encouraging career skills training, and increasing labor force participation and economic mobility.
Goal III: “Encourage equitable growth in neighborhoods without displacement”
With an emphasis on housing affordability and renter protections, Philadelphia plans to invest in its neighborhoods and create strong development markets, as well as simply and expand homeownership across the city.
The Scale: How will this progress be measured? Philadelphia’s plan for inclusive growth includes a focus on racial equity, and a need to create a just and fair society where all can prosper. The strategies of “Growing with Equity” are aimed first and foremost at reducing disparities for people of color, and to breaking down data to track progress in its reduction.
Six key indicators have been created by the city to monitor the success of its growth efforts, and they span a 10-year long plan to track the economic health of the city, with the hopes that it will grow. The main areas of focus: education, employment, wages, and homeownership.
Philadelphia plans to work on closing the gap between Philly’s median household income and nationwide median household income; continue to close the unemployment gap rate between Black, Hispanic, and Asian residents and the city’s White residents, and with that, close the gap in median income respectively, as well as the educational attainment gap. Philadelphia’s most ambitious goal, it to decrease the number of people living in poverty by 100,000.
The team responsible for tracking feedback will be lead by Mayor Kenney’s Office, with representation from: the Department of Commerce, Planning and Development, Managing Director’s Office, Office of the Chief Administrative Officer, Office of the Director of Finance, and any others as they’re needed.
The Support: While “Growing with Equity” is a Philadelphia based program, Mayor Kenney took the opportunity to call on leadership at all levels, both political state, local, and federal, and a network of business, community agencies, educational institutions, and nonprofits, to make “Growing with Equity” a true group effort.
The full language for Mayor Kenney’s plan “Growing with Equity: Philadelphia’s Vision for Inclusive Growth” is available online at phila.gov/inclusive-growth. Thanks for sticking around to hear from us!