Penn’s FY24 Economic Impact Report

In March Penn released a new report showcasing its substantial economic impact for fiscal year 2024 (FY24), with approximately $37 billion circulating annually through the economies of the City of Philadelphia and the surrounding area. 

The report highlights how Penn, as Philadelphia’s largest private employer, plays a vital role in stimulating economic growth, with one in every seven jobs in the Philadelphia area supported by Penn. In FY24, Penn invested approximately $1 billion in capital projects managed by FRES, enhancing both the West Philadelphia campus as well as the surrounding community and resulting in approximately 6,900 private-sector construction jobs. Read the full report.