Philadelphia’s Fiscal Future
A special series on how the COVID-19 pandemic has affected the city’s economy and budget, and what may lie ahead for recovery and growth
Philadelphia’s economy was performing well in the decade before the pandemic—matching and, in some years, outperforming the nation in job generation. But COVID-19 halted that progress, and the city’s recovery has lagged that of the national economy. That’s especially troubling given that Philadelphia’s pre-pandemic job growth did not extend to workers of color in the city.
What caused the lag? And what does it mean for Philadelphians—especially those who have historically been left behind?
To look at Philadelphia’s changing economy and explore the range of opportunities, risks, and responses that city leaders face, The Pew Charitable Trusts, in partnership with the William Penn Foundation, has created “Philadelphia’s Fiscal Future.” This series of reports and analyses provides data and insight to inform the tough decisions and opportunities that lie ahead for city leaders—and for those who live and work in Philadelphia—especially when it comes to building a more equitable city. The series’ four primary reports are highlighted below, with other related research organized under specific categories.
The Pandemic's Effects on Philadelphia's Economy and Jobs
Philadelphia's Tax Burden Differs by Size and Sector
Employment Patterns and Philadelphia's Operating Budget
5 Key Economic Trends for Philadelphia
City Budget and Tax Policy
Report
June 17, 2024For Businesses, Philadelphia's Tax Burden Differs by Size and Sector
Business taxes are a perennial subject of debate in Philadelphia. Critics say they’re an obstacle to economic growth; defenders call them a way to make businesses pay their fair share. Underlying these...Issue Brief
March 20, 2024Philadelphia's Post-ARPA Fiscal Reality
The start of the COVID-19 pandemic in 2020 forced officials in cities throughout the country to deal with unexpected budget shortfalls quickly. To close a projected one-year gap of $649 million...Article
September 14, 2023Business Recovery Dashboard Illustrates Philadelphia's Pandemic Pain and Rebound
The interactive dashboard on Philadelphia businesses and jobs produced by The Pew Charitable Trusts for leaders and citizens during the COVID-19 pandemic offered a quarterly look at the city’s struggles...The Health of Local Businesses
Issue Brief
February 22, 2023How Philadelphia's Economy Is Recovering
In June 2022, The Pew Charitable Trusts assessed the status of Philadelphia’s economic recovery two years into the pandemic, identifying five key questions likely to determine the city’s future...Issue Brief
March 29, 2022How COVID Changed the Way City Governments Support Local Businesses
Since March 2020, businesses across the country have endured rolling economic shocks stemming from public health restrictions, shifting consumer behavior, and labor and supply chain disruptions brought...Article
March 3, 2022Financial Stability of Philadelphia Health Care Industry Suffered During Omicron Surge
Although the financial health of Philadelphia’s businesses remained mostly stable at the start of the COVID-19 omicron variant surge in December, there was one exception: health care and social assistance...Have questions about Pew’s research on Philadelphia’s fiscal future? Contact us at philaresearch@pewtrusts.org.