Chamber deploys panel to rebuild economy Business
The Greater Philadelphia Chamber of Commerce has launched a tool to measure the region’s economic recovery after COVID-19.
The Inclusive growth panel is a global imaging tool that measures key key indicators of the region’s economic progress, including job growth, wage growth, small business growth, poverty reduction and vaccine adoption.
With these indicators, the dashboard will monitor macroeconomic conditions in Greater Philadelphia compared to seven equal metropolitan areas: Atlanta, Georgia; Boston, Massachusetts; Chicago, Illinois; Dallas, Texas; Denver, Colorado; Pittsburgh, Pennsylvania and Washington, DC
“The important thing is that we hope other organizations will use the data for their own purposes and uses,” Claire Greenwood told the chamber.
“It’s nice to have a public source that tracks such conditions of a large economy, wage growth, job growth and poverty reduction – both on its own and compared to seven similar regions in which we track information.”
The dashboard will be supported in collaboration with the Federal Reserve Bank of Philadelphia and the Pew Charitable Trusts research and policy initiative in Philadelphia.
“I think it’s really worth delving into and making sure we measure the right things because people do what they measure and that we do it with full transparency so that our members and everyone in the community understands what we do and whatever from whether we are successful or not, ”said Rachel“ Cheli ”Cameron, who has just been named the next director general of the chamber.
In 2020, in light of the pandemic, the Chamber and its Board of CEO for Growth initiated public-private partnerships with commitments from more than 160 business and community leaders to address crisis solutions in unison as the Philadelphia Regional Replenishment. and the Task Force on Recovery.
The dashboard is part of advancing five goals for the region that have been set by leaders, which include becoming a national model for the training, learning and workplaces of the future; a place known for investing and developing small black and brown businesses; the digital community with increasing digital literacy, technology and Internet use; the healthiest and most viable community in the Northeast and the world’s leading center for cell and gene therapy.
The dashboard will be constantly updated with the latest data to provide snapshots of current conditions as well as provide opportunities to compare current information with the latest trends.