By Robert F. Smith, Region Vice President of Community Investment
In case you missed it over the Labor Day weekend, I want to share an article from the Philadelphia Inquirer that focused on Philadelphia companies that have relocated their corporate headquarters outside the City over the past few years.
I’m very proud that Comcast has, for more than 50 years, been an exception to that trend. As the story notes, we’re doubling down on our investment in Philadelphia by constructing the new Comcast Innovation and Technology Center. This $1.2 billion, 59-story tower will provide a home for thousands of our company’s technologists, engineers and software architects. These innovative thinkers – like Jeanine Heck – are creating exciting new products for customers nationwide, and doing it right here in our hometown.
Investments like these don’t only help our customers. Comcast’s longtime commitment and growth here support crucial city services, and we generate $1.8 billion in annual economic impact in Philadelphia including, over the past seven years since Comcast Center opened, more than $100 million in revenues to the School District of Philadelphia. The company’s annual taxes and fees paid to the City is $130 million.
Additionally, Comcast has made $241 million in donations and in-kind contributions to Philadelphia area non-profits.
As a leading media and technology company, we’re also supporting the fast-growing ecosystem of start-ups and entrepreneurs that are beginning to thrive in our City. One recent example of that support was our sponsorship of PennApps, the world’s largest collegiate hackathon. Since we’re on the subject, here is another article discussing the importance of corporate support of innovation in Philadelphia.
I’m very proud that Comcast has so many community partners – terrific organizations like Boys & Girls Clubs of Philadelphia, Congreso and City Year – that are dedicated to our City and to moving it forward. We couldn’t share in that commitment more.