The Philadelphia area is moving up in popularity as a corporate relocation destination, according to a recent survey of 75 major metropolitan areas in the United States.
Philadelphia ranked seventh in the annual listing compiled by PHH Homequity, a Maryland-based relocation management company. It had ranked ninth in the previous year's survey.
Washington, D.C., topped the list, with Dallas a close second and Chicago third. Washington was third in the prior year, Dallas first and Chicago fifth.
According to Harvey Auger, president of PHH Homequity, "The high- popularity relocation areas have remained consistent over the past few years."
He added that among the qualities that tend to attract corporate relocations are availability of labor, educational and transportation facilities, tax structures and incentives.
The survey is based solely on the transfers handled for corporate clients by PHH. But company spokesman Keith Bisogno said that because PHH is the nation's largest relocation specialist - handling 30,000 moves last year - its data provide a representative sample of both geographic areas and industries. Bisogno said the data indicate that the Philadelphia area is a strong corporate destination and will remain so.
That comes as no surprise to Richard Maloney, spokesman for the Greater Philadelphia Chamber of Commerce.
"It's obvious to the most casual observers," he said, "that this area is popular, particularly with new biotech, medical, chemical and pharmaceutical companies."
This area has a big advantage among companies moving from the West to the East, Maloney said, because the cost of real estate here is lower than most other cities "and it's always been that way."
Maloney says the entire region benefits from the cultural, educational and transportation facilities located within the city.
"(Developer) Bill Rouse once told me that the reason companies were moving to the industrial parks he built in Chester and Montgomery counties was that they were near Philadelphia. If not for the proximity to the advantages the city offers, they might just as well move to farmland in Indiana."
TOP PICKS
Top 10 for relocations:
1. Washington, D.C.
2. Dallas
3. Chicago
4. Houston
5. New York
6. Atlanta
7. Philadelphia
8. San Francisco
9. Los Angeles
10. Cincinnati
