Page 23 - Guide to Greater Philadelphia

DREAM. DESIGN. SUCCEED.
Philadelphia, PA West Chester, PA Wilmington, DE www.bernardon.com
FOREIGN INVESTMENT
a world of knowledge and ideas
Companies from all over the world contribute to Greater Philadelphia’s economy.
Foreign direct investment (FDI) is one of the most significant contributors to economic growth in many U.S. markets, and that includes Greater Philadelphia. Encouraging overseas companies to open new or expand existing operations, or to merge with or acquire a domestic concern, can help bolster the economy in many ways.
For instance, although FDI accounts for only 5% of private sector employment nationally, it is responsible for 20.3% of goods exported, 18.9% of corporate research and development, 15.2% of capital investment and 12.0% of productivity growth. Employees working for foreign companies are well compensated and often have access to cutting-edge technology.
In fact, the flow of knowledge and ideas from foreign companies into the region helps spur innovation and spawns collaboration and competition, leading to novel discoveries, new products and greater profitability.
In Greater Philadelphia, the top five foreign-owned industries are pharmaceuticals, R&D services, insurance, grocery stores and commercial banks. The region ranks sixth nationally in jobs in foreign-owned establishments (FOEs).
SECTOR LEADERS
• GSK (UK) is the world’s sixth-largest pharma- ceuticals company and was created in 2001 with the merger of Philadelphia’s SmithKline Beecham and London’s Glaxo Wellcome. Its Greater Philadelphia offices and research facilities employ a combined 4,500 people.
• SAP AG (Germany) is the parent company of SAP America, which is located in Newtown Square, PA, and creates, develops and markets software solutions designed to connect technology with workers. SAP AG is the world’s largest business software company and identifies itself as a “purpose-driven company” that serves a large percentage of the world’s biggest companies.
• SCA Americas (Sweden) produces a variety of consumer paper and personal care products, along with sustainable packaging solutions and renew- able energy items. SCA Americas’ headquarters are located in the Cira Center in Philadelphia, and the company employs 8,000 people across the North, Central and South Americas.
• Siemens (Germany) is a conglomerate that provides financial, engineering and technical ser- vices throughout the world. It has more than 10 locations in the Philadelphia region and provides
healthcare, financial, building technology and
energy solutions for a variety of clients.
• Subaru of America (Japan) has maintained its
North American headquarters in southern New Jersey for nearly 50 years. Its new facility in Camden is home to more than 300 employees and complements its nearby operations center where the team markets Subaru vehicles, parts and accessories through a network of approxi- mately 600 retailers across the United States.
• CertainTeed Corporation/Compagnie de Saint-Gobain (France) recently expanded its North American headquarters in Malvern, PA, where it produces a variety of innovative and sustainable building products, including roofing, siding, decking, fencing, trim, insulation, gypsum and ceilings at a new, state-of-the-art, LEED- certified facility.
• Also Notable: Teva (Israel), Ikea (Sweden) COMPANIES TO WATCH
• Almac Group Ltd. (UK) is based in Northern Ireland, but the biopharmaceutical development company’s Philadelphia-area headquarters in Montgomery, PA, are growing quickly and becom- ing a powerful regional force. The company’s
late 2016 announcement about its $24.4 million expansion plans ensured Almac’s local operation would continue to provide product research and development for many years.
• WuXi AppTec (China) provides a variety of R&D services designed to help biopharmaceutical companies shorten the time it takes to bring drug and medical device ideas from concept to completion. The company’s 150,000-square-foot manufacturing facility at the Navy Yard has the potential to employ 200.
• Philly Shipyard/Aker ASA (Norway) was founded in 1997 at the Navy Yard as a joint
effort between the City of Philadelphia and the Kvaerner Shipbuilding Division in Norway. In 2005, the Navy Yard plant became part of the new Aker ASA operation and since 2003 has delivered more than 50% of all Jones Act ocean-going merchant ships, including containerships, product tankers and large crude oil tankers.
• Adaptimmune LLC (UK) creates T-cell thera- pies designed to fight cancer in its tumor and hematologic forms. In March 2017, the company opened its 47,400-square-foot headquarters at the Navy Yard, which will house clinical drug development and manufacturing and employ more than 100 workers.
• Also Notable: The Factory (Germany), DB Shenker (Germany), Geodis (France)
We take the cake!
Let CCEDC help you get a bite.
With a vibrant and healthy economy, concentration of key industries, educated workforce, culture of innovation, and quality of life that is second-to-none, Chester County, PA can consistently be found among the TOP TEN in state and national rankings.
Much of this success
can be attributed to the
Chester County Economic
Development Council
(CCEDC), a private, nonprofit, non-governmental entity that promotes a competitive edge for existing and new businesses.
Contact us today for help with the following:
• Business retention and expansion support
• Commercial loan financing and tax credits
• Community revitalization services
• Grant administration and management
• Emerging technology and/or incubator access
• Site selection
• International business assistance
• Industry-specific solutions
• Workforce development - recruiting, hiring, training
TO GROW YOUR BUSINESS, CONTACT: MaryFrances McGarrity
SVP, Business Development Services 610.321.8223 • mmcgarrity@ccedcpa.com www.ccedcpa.com
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