ISSUES
Issue:
Philadelphia faces significant challenges in terms of public safety, property crime, retail theft, and illegal dumping. These issues not only affect the overall well-being of our community but also have a direct impact on businesses of all sizes. Addressing these challenges is crucial to ensuring a safer and cleaner environment that supports business growth and fosters economic prosperity.
Addressing Property & Violent Crime:
Collaborating with community organizations and stakeholders, we aim to combat property and violent
crime by advocating for investments in education, job opportunities, forensics technology, and programs
that enhance community safety.
Tackling Retail Theft:
Our efforts extend to combating the rise in retail theft incidents through regular engagement with the District Attorney’s office, seeking solutions that promote safety and security for businesses and the community.
Fighting Illegal Dumping:
We are dedicated to reducing the impact of illegal dumping by advocating for enhanced funding for surveillance programs, data research, and policies that address this pressing issue. Our comprehensive approach encompasses legislative, programmatic, and communication strategies, all aligned with our
mission to foster a more business-friendly Philadelphia. We remain committed to amplifying our advocacy efforts, advancing policies that facilitate economic growth, and creating an inclusive and prosperous environment for all.
Issue:
There is a scarcity of private employers within Philadelphia city limits. This issue is rooted in the city's existing tax policies and overall business environment. High business income tax rates and a lack of private sector investments have prompted companies and employers to look beyond Philadelphia for their business operations. This trend has led to limited job growth and a shortage of quality employment opportunities for the local workforce.
When companies decide to establish themselves outside Philadelphia to avoid high taxes, the number of job opportunities for Philadelphia's workforce is reduced. This downward trend contributes to lower wages and decreased economic activity within the city, affecting entrepreneurs, small and large businesses, and minority-owned enterprises alike. Business owners also have fewer dollars to increase wages, offer employee training opportunities, or invest in their business operations.
Solution:
Policymakers must implement targeted strategies that make Philadelphia more business-friendly. A key component involves the reduction of business income tax rates to make the city a more appealing and cost-effective place to do business. By fostering a business-friendly environment, Philadelphia can entice companies to set up operations and employ workers within its boundaries. This, in turn, will lead to increased investment and greater job prospects for Philadelphians.
Additionally, increased investment in infrastructure, education, and workforce development programs can equip the local workforce with the skills needed for jobs in emerging industries. These investments will enhance Philadelphia's attractiveness as a location for businesses seeking skilled, local talent.
Our goal over the next decade is to reduce the Wage Tax and BIRT tax to competitive levels.
Reduction in BIRT & Wage Taxes:
According to an Econsult analysis, the City can responsibly reduce these taxes over the next decade and in:
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5 years or less - Eliminate the Net Income portion of the BIRT; and
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10 years or less - Lower the Wage Tax to a competitive rate of 2.99%
Issue:
It is critical that the local government offers a streamline system for permitting, taxation, licenses, and inspections. Cumbersome regulations and bureaucratic hurdles can stifle business expansion and deter new ventures from entering the market.
The impact of these challenges resonates across Philadelphia's business community. Small businesses, often the lifeblood of local economies and communities, struggle to navigate tedious applications and complex procedures, which hinders their growth potential. Large corporations face similar roadblocks that hinder their agility and competitiveness. However, the disproportionate burden on minority-owned businesses and entrepreneurs further exacerbates an inequitable disparity in opportunities and ultimately impacts the livelihoods of countless people, as well as the city's overall economic vitality.
Solution:
To make it easier to grow and hire in Philadelphia, we need to catalyze job growth and streamline the Licensing and Inspections (L&I) process. Philadelphia is piloting the Navigator, an innovative tool that simplifies permitting and licensing processes for businesses. We actively support programs, policy and legislation that implement and scale tools like this to ensure any current disadvantages for local companies versus those in other cities are removed expeditiously.