Penn released its FY24 Economic Impact Report, which emphasizes how Penn plays a vital role in driving regional economic growth. In addition to helping support job creation, tax revenue, local procurement and community development, Penn also supports the economy as a powerhouse in research and innovation.
According to the report, Penn’s regional investments in FY24 generated:
- $2.5 billion in total annual output within Philadelphia, supporting 9,400 jobs and $875 million in employee compensation.
- $2.9 billion in total annual output within the Penn Region, supporting 11,200 jobs and $996 million in employee compensation.
- $2.8 billion in total annual output within the Commonwealth of Pennsylvania, supporting 10,800 jobs and $964 million in employee compensation.
Read the full Penn Today article here.