welcome ROB WONDERLING, President & CEO, Chamber of Commerce for Greater Philadelphia

@ChamberPHL

economic survey results ELIF SEN, Senior Economic Analyst, Federal Reserve Bank of Philadelphia

@PhiladelphiaFed

keynote speaker introduction RICHARD J. GREEN, Chairman and Chief Executive Officer, Firstrust Bank

keynote address KAI RYSSDAL, Host, Marketplace

@kairyssdal @Marketplace

panel discussion MODERATOR: TIMOTHY J. ABELL, President, Firstrust Bank

PHOEBE HADDON, Chancellor, Rutgers University-Camden

@Rutgers_Camden

BRADLEY J. KORMAN, Co-CEO, Korman Communities, Inc.

JOHN L. LYNCH III, President and CEO, Main Line Health

@jlynch4614 @mainlinehealth

DOUGLAS A. MOSER, Executive Vice President and Acting Chief Operating Officer, Philadelphia Gas Works

@MyPGW

closing comments ROB WONDERLING, President & CEO, Chamber of Commerce for Greater Philadelphia

@ChamberPHL

audience participationThroughout the event please visit YORN.COM/CHAMBERPHL on your mobile device to post comments or questions for the panelists.

Wednesday, January 18, 2017  Registration: 7:30 – 8:00 a.m. • Breakfast & Program: 8:00 – 9:30 a.m.

economic O U T LO O K ‘17

TITLE SPONSOR: PRINT SPONSOR:

#EconomyPHL @ChamberPHL

keynote speakerkeynote speaker

KAI RYSSDALHost, Marketplace

Kai Ryssdal is the host and senior editor of Marketplace, the most widely heard program on business and the economy — radio or television, commercial or public broadcasting — in the country.

Since joining the fl agship Marketplace broadcast in 2005, Kai has hosted the program from China, the Middle East, and dozens of cities — big and small — across the United States. Kai speaks regularly with CEOs of Fortune 500 companies, startup entrepreneurs, small business owners, and everyday participants in the American and global economies. He’s also interviewed the current leader of the free world four times. Kai fi rst came to Marketplace in 2001 as the host of Marketplace Morning Report, where he covered the economic aftermath of the September 11th attacks, the collapse of Enron, and the slow buildup to the housing crash, the fi nancial crisis, and the Great Recession.

Kai’s one and only big-time journalism award was, as it happens, for television: a 2012 Emmy for investigative journalism on a PBS Frontline documentary about money in politics, called Big Sky, Big Money. He has appeared often on CNN, CNBC and CBS News. His written work has been featured in The New York Times and The Atlantic.

Before his career in broadcasting, Kai spent eight years in the United States Navy, fl ying from the aircraft carrier U.S.S. Theodore Roosevelt and, later, with the Joint Chiefs of Staff at the Pentagon. He also served in the United States Foreign Service, with postings to Ottawa, Canada and Beijing, China. Kai is a graduate of Emory University and Georgetown University. He lives in Los Angeles with his wife and four children.

TIMOTHY J. ABELLPresident, Firstrust BankAs a banker, Tim Abell has been working with entrepreneurs in the Philadelphia area for more than 30 years. He is an energetic and charismatic leader who has signifi cant business and real estate lending experience. Tim was named President of Firstrust Bank in 2007, and recently appointed to its Board of Directors. Tim has helped lead the Bank’s continued growth as a full service bank that is focused on cultivating prosperity for its customers and community.

Tim is a Board Member of the Chamber of Commerce for Greater Philadelphia, Holy Redeemer Hospital, and LaSalle Academy. In 2007, he was the recipient of Variety Club’s Gold Heart Award and in 2008, he received the American Diabetes Association’s Father of the Year Award. He served as Chairperson of the 2011 American Heart Association Heart Walk Philadelphia, and previously served as President of the Philadelphia Chapter of the Risk Management Association and the United Cerebral Palsy Association of Philadelphia. He also was a Board Member for City Year Philadelphia for 10 years and was a Board member of the Pennsylvania Bankers Association for a 3 year term.

Tim earned his undergraduate degree from Indiana University and MBA from Drexel University.

RICHARD J. GREENChairman and Chief Executive Offi cer, Firstrust BankRichard J. Green, the grandson of founder Samuel A. Green, joined Firstrust Bank in 1978 as General Counsel. In 1986, he joined the Bank’s Board of Directors, became President and CEO in 1995, and Board Chairman in 2015. As Firstrust’s Chairman and CEO, his primary responsibility is overseeing the overall strategic direction of the company. During his tenure at the helm of Firstrust, a full service bank in the Philadelphia region, its assets have grown to $2.8 billion and is considered one of the strongest, best capitalized banks in the country.

Richard currently serves on the Board of Trustees of The Franklin Institute, Penn Medicine, the Jewish Federation of Greater Philadelphia, Federation Housing, Inc., and the Jewish Community Centers of Greater Philadelphia. In 2015, Richard was named Most Admired CEO by the Philadelphia Business Journal and also received the Haverford School’s Distinguished Alumni Award.

Prior Board affi liations include his appointment, in 2009, by the Chairman of the Federal Reserve Board, to its Community Depository Institutions Advisory Council (“CDIAC”) for a three year term, and served as Chairman of the Federal Reserve District of Philadelphia CDIAC from 2011-2012. Richard also served on the Board of Trustees of Lehigh Valley Health Network where he was on

the Executive Committee and Chaired the Finance Committee from 1997 to 2011, as well as the Board of Trustees of the Haverford School from 2010 to 2014. Richard has been a limited partner in the NFL Philadelphia Eagles Football Team since 1994

Richard earned his B.A. from Tufts University, his M.B.A. from the Wharton School at the University of Pennsylvania and attended the SMU and the University Of Pennsylvania Schools Of Law. He is a member of the Philadelphia, Pennsylvania and American Bar Associations. He is also a Sustaining Member of the Zell-Lurie Real Estate Center at Wharton School of University of Pennsylvania

PHOEBE A. HADDONChancellor, Rutgers University – CamdenPhoebe A. Haddon became chancellor of Rutgers University–Camden on July 1, 2014. She has direct responsibility for the daily administration of a campus that has more than 1,300 employees and enrolls more than 6,600 students in 39 undergraduate programs and 28 graduate programs at the master’s and doctoral levels. In 2014, Phoebe was an invited speaker at the 91st annual meeting of the American Law Institute, where other invited speakers included U.S. Supreme Court Chief Justice John Roberts and U.S. Supreme Court Justices Stephen Breyer and Ruth Bader Ginsburg. In October 2014, she was named among the “Women of Distinction” to be honored by Philadelphia Business Journal. In December 2014, she delivered the keynote address for the Sisters for the Cure event sponsored by the Susan B. Komen Foundations in Philadelphia. In 2015, she received the Trailblazer’s Award from the New Jersey Women Lawyer’s Association, and was similarly honored by the National Association of Women Business Owners in South Jersey in 2016.

Phoebe currently is a member of the American Bar Association’s Commission on the Future of Legal Services. She has served on numerous boards, including the Delaware Valley Community Reinvestment Fund, the Women’s Law Project, the William Penn Foundation, the Samuel S. Fels Fund, the Philadelphia Education Fund, and the Smith College Board of Trustees. She currently is on the Board of Trustees for the Cooper University Health System and is a member of the CEO Council for Growth, and serves as a Class C Director for the Federal Reserve Bank of Philadelphia.

Chancellor Haddon previously served as dean of the University of Maryland Francis King Carey School of Law. In 2011, the school received a $30 million commitment from the W.P. Carey Foundation. Prior to joining UM Carey Law, Phoebe served for more than 25 years as a distinguished faculty member at the Temple University Beasley School of Law. She has written extensively on equality and access in education issues as well as on matters related to access to counsel for civil litigants.

speaker biographies

Each year from 2012 to 2015, Phoebe was honored by The National Jurist as one of the “25 Most Infl uential People in Legal Education.” In 2011, she received the Great Teacher Award from the Society of American Law Teachers (SALT). Chancellor Haddon earned an LL.M. from Yale Law School in 1985 and a Juris Doctor, cum laude, from Duquesne University School of Law in 1977. She received a bachelor’s degree from Smith College in 1972 and served as vice chair of the Smith College Board of Trustees until 2009.

BRADLEY J. KORMANCo-CEO, Korman Communities, Inc. Bradley J. Korman is Co-CEO of Korman Communities, Inc. The company is one of the largest owners and managers of multi-family properties in the region with a portfolio of 24 properties, and total market capitalization in excess of $2 Billion. The company operates throughout major markets in the United States, and is based outside of Philadelphia, PA. Korman Communities was the innovator of short-term furnished apartments in the United States over 50 years ago, and Bradley is a member of the fourth generation to lead this company. It operates three brands, including its ARK and AVE properties which feature full service multifamily operations at prime, infi ll locations. The company introduced its AKA brand in 2004, an upscale, urban high-rise concept with properties located in New York City, Philadelphia, Washington, D.C., Beverly Hills, and London.

Bradley has lead the acquisition, development and fi nancing program of all new properties by Korman Communities, including the entrance into new markets such as New York City, Beverly Hills and London. This growth has allowed the company to establish relationships with some of the largest and most respected fi nancial and lending institutions in the country. Bradley oversees all new business development, including debt and equity relationships, throughout the company.

Mr. Korman serves on the Board of Trustees of The Philadelphia Police Foundation, Germantown Academy and the Duke University Library Advisory Board. He is also a member of the JFRE Executive Committee, President’s Leadership Council at Jefferson, Zell/Laurie Real Estate Center of The Wharton School of the University of Pennsylvania, and is a licensed Real Estate Broker in Pennsylvania and New York.

Mr. Korman received his B.A from Duke University in 1987, and his M.B.A. from The Wharton School of the University of Pennsylvania in 1992

JOHN J. LYNCH IIIPresident and CEO, Main Line HealthJohn J. (Jack) Lynch III has served as president and CEO of Main Line Health since 2005, providing executive leadership to suburban Philadelphia’s most comprehensive health care system. Main Line Health is comprised of four of the region’s respected acute care hospitals—Lankenau Medical Center, Bryn Mawr Hospital, Paoli Hospital and Riddle Hospital—as well as one of the nation’s premier facilities for rehabilitative medicine, Bryn Mawr Rehab Hospital; Mirmont Treatment Center, one of the leading addiction treatment programs in the Northeast; the Lankenau Institute for Medical Research; and the Home Care Network, which provides at-home nursing and hospice care throughout the fi ve county region.

During his tenure with Main Line Health, Jack and his leadership team have been credited with strengthening the organization’s commitment to patient quality and safety and enhancing the technology necessary to support signifi cant advances in those areas. He has also fostered a period of expansion, including the addition of an acute care hospital and two health centers to better serve the needs of the Main Line and western suburban communities, and has cultivated an employee work environment that has garnered recognition from several independent rating organizations.

Prior to joining Main Line Health, Jack served nearly 20 years as an executive with the St. Luke’s Episcopal Health System in Houston, Texas, where he advanced to the position of Executive Vice President and Chief Operating Offi cer for the system, as well as CEO of the system’s fl agship facility, St. Luke’s Episcopal Hospital. While residing in Houston, Lynch served on the boards of a wide variety of professional associations, including the Texas Hospital Association, the Greater Houston Hospital Counsel and the United Way.

A native of Washington, D.C., Jack received his undergraduate degree from the University of Scranton in Pennsylvania and his Master of Health Administration degree from the Washington University School of Medicine in St. Louis, Missouri.

As former Governor of the American College of Healthcare Executives, Jack serves on the boards of the Delaware Valley Healthcare Council, the United Way of Southeastern Pennsylvania, and the Haverford School. A former Chairman of the Institute for Diversity in Health Management, Jack currently serves as a board member. In 2008, he served as Chairman of the American Heart Association of Southeastern Pennsylvania’s Heart Walk.

Jack and his family reside in Bryn Mawr, Pennsylvania.

DOUGLAS A. MOSERExecutive Vice Presidentand Chief Operating Offi cer, Philadelphia Gas Works Douglas Moser is the Executive Vice President and Chief Operating Offi cer of the Philadelphia Gas Works, the nation’s largest municipally owned natural gas company, serving more than 500,000 residential, commercial and industrial customers in the City of Philadelphia.

Douglas received his Bachelor of Science degree in Chemical Engineering from Pennsylvania State University and a Master in Business Administration degree from Widener University.

Douglas started with the organization in 1979. During his 38 years of service, he progressed through the ranks and in 2012 he was moved to his present position as Executive Vice President and Chief Operating Offi cer.

He serves on the Gas Board of the Energy Association of Pennsylvania, the Board of Directors of the American Public Gas Association and the Leadership Council of the American Gas Association.

ELIF SENSenior Economic Analyst, Federal Reserve Bank of PhiladelphiaElif Sen is a senior economic analyst in the Research Department of the Federal Reserve Bank of Philadelphia. She analyzes regional data for the Bank’s Third District, which includes eastern Pennsylvania, southern New Jersey, and Delaware; these analyses are released on the Bank’s website. Elif also developed the monthly State Unemploy-ment Rate Nowcasts, which predict the current month’s unemployment rate for the Third District states.

Elif joined the Bank in 2006. She has a bachelor’s degree in economics with a concentration in mathematical economics from Haverford College in Haverford, PA; earned a master’s degree in urban spatial analytics from the University of Pennsylvania; and completed the Bank’s Financial Business Management Certifi cate Program at Temple University’s Fox School of Business.

* The views expressed today are my own and not necessarily those of the Federal Reserve Bank of Philadelphia or the Federal Reserve System.

ECONOMIC OUTLOOKSURVEY RESULTS

JANUARY 18, 2017

Elif Sen*

• Conducted from Dec. 1 to Dec. 15, 2016

• Other category includes Information; Construction, Natural Resources, and Logging; Government; and Other Services sectors.

ECONOMIC OUTLOOK SURVEYRESPONDENT DISTRIBUTION

PROFESSIONAL & BUSINESS SERVICES

EDUCATION & HEALTH SERVICES

FINANCIAL ACTIVITIES

TRADE, TRANSPORTATION, & UTILITIES

MANUFACTURING

LEISURE & HOSPITALITY

OTHER

SURVEY RESPONDENTS

PHILA. MSA EMPLOYMENT SHARE

0% 5% 10% 15% 20% 25% 30% 35% 40%

2016 COMPARED WITH 2015

DIFFUSION INDEX

42.5

DIFFUSION INDEXWHAT IS YOUR ASSESSMENT OF CHANGES IN BUSINESS CONDITIONS FOR YOUR COMPANY?

SIGNIFICANTLY LOWER

SLIGHTLY LOWER SAME SLIGHTLY HIGHERSIGNIFICANTLY

HIGHER

6.2% 12.3% 15.1% 42.5% 18.5%

2010

3.0

2.5

2.0

1.5

1.0

0.5

0.0

Q4

/A4

PE

RC

EN

T C

HA

NG

E

2011 2012 2013 2014 2015 2016(forecast)

2017(forecast)

REAL GROSS DOMESTIC PRODUCT(U.S.)

Source: Bureau of Economic Analysis via Haver Analytics, FOMC Summary of Economic Projections – Dec. 14, 2016

2010

60

70

50

40

30

20

10

0

DIF

FUSI

ON

IND

EX

2011 2012 2013 2014 2015 2016 2017(forecast)

SURVEY RESPONSEBUSINESS ACTIVITY

ACTIVITY AT COMPANY

ACTIVITY IN REGION

Source: Survey Results

Source: Institute for Supply Management (ISM) via Haver Analytics

2010

60

58

56

54

52

50

IND

EX

(+5

0 IS

INC

RE

ASI

NG

)

2011 2012 2013 2014 2015 2016

ISM NONMANUFACTURING

ISM MANUFACTURING

NEW ORDERS(U.S.)

2010

60

70

50

40

30

20

10

0

DIF

FUSI

ON

IND

EX

2011 2012 2013 2014 2015 2016 2017(forecast)

SURVEY RESPONSENEW ORDERS AND SALES

NEW ORDERS

REVENUE/SALES

Source: Survey Results

Sources: Bureau of Economic Analysis via Haver Analytics; Federal Reserve Bank of Philadelphia Fourth Quarter 2016 Survey of Professional Forecasters

NONRESIDENTIAL INVESTMENT(U.S.)

2010

10

8

9

7

6

5

4

2

3

0

1

Q4

/A4

PE

RC

EN

T C

HA

NG

E

2011 2012 2013 2014 2015 2016(forecast)

2017(forecast)

2010

30

45

35

50

25

40

20

15

10

5

0

DIF

FUSI

ON

IND

EX

2011 2012 2013 2014 2015 2016 2017(forecast)

SURVEY RESPONSECAPITAL EXPENDITURES

PHYSICAL PLANT

EQUIPMENT & SOFTWARE

Source: Survey Results

Source: Bureau of Labor Statistics via Haver Analytics

NONFARM JOB GROWTH(U.S.)

2010

300

250

200

150

100

50

0AV

ER

AG

E M

ON

THLY

NU

MB

ER

OF

JOB

S (T

HO

USA

ND

S)

2011 2012 2013 2014 2015 2016

SURVEY RESPONSEHIRING

NO. OF FULL-TIME EMPLOYEES

NO. OF PART-TIME, TEMPORARY, & CONTRACT EMPLOYEES

2010

40

30

20

10

0

-10

DIF

FUSI

ON

IND

EX

2011 2012 2013 2014 2015 2016 2017(forecast)

Source: Survey Results

2000 2002 2004 2006 2008 2010 2012 2014 2016

10

12

8

65.04.7

4

2

0

Source: Bureau of Labor Statistics via Haver AnalyticsLast month plotted: December 2016 for U.S. and November 2016 for Philadelphia-Camden-Wilmington Metropolitan Statistical Area (MSA)

U.S.

PHILA. MSA

PE

RC

EN

T, S

EA

SON

ALL

Y A

DJU

STE

D

UNEMPLOYMENTNATIONAL & REGIONAL

Poor Sales

Government Regulation

Labor Costs — Benefi ts

Taxes

Other (Write-In)

Financing and Interest Rates

Competition — Foreign

Cost of Raw Materials

0% 30%10% 40%20% 50% 60%

BIGGEST PROBLEMS FACINGCHAMBER MEMBERS FOR 2017

Competition — Domestic

Labor Costs — Wages

Labor — Quality

Source: Survey Results

MOST IMPORTANT

Poor Sales

Government Regulation

Labor Costs — Benefi ts

Taxes

Other (Write-In)

Financing and Interest Rates

Competition — Foreign

Cost of Raw Materials

0% 30%10% 40%20% 50% 60%

BIGGEST PROBLEMS FACINGCHAMBER MEMBERS FOR 2017

Competition — Domestic

Labor Costs — Wages

Labor — Quality

Source: Survey Results

MOST IMPORTANT

SECOND-MOST IMPORTANT

THIRD-MOST IMPORTANT

0% 30%10% 40%20% 50% 60%

2010 2011 2012 2013 2014 2015 2016

100

80

60

40

20

0

Source: Federal Reserve Bank of PhiladelphiaLast month plotted: December 2016

CHANGE IN ACTIVITY OVER THE NEXT 6 MONTHS

PHILADELPHIA FED MONTHLY BUSINESS OUTLOOK SURVEYS

DIF

FUSI

ON

IND

EX

MANUFACTURING

NON-MANUFACTURING

MANUFACTURING BUSINESS OUTLOOK SURVEY

NONMANUFACTURING BUSINESS OUTLOOK SURVEY

EMAIL US AT phil.surveys@philadelphiafed.org

FOLLOW US ON TWITTER

@philadelphiafed@philfedresearch

LIKE US ON FACEBOOK

Elif SenSENIOR ECONOMIC ANALYSTELIF.SEN@PHIL.FRB.ORG

Michael TrebingSENIOR ECONOMIC ANALYSTMIKE.TREBING@PHIL.FRB.ORG

Michael BoldinSENIOR ECONOMIC ANALYSTMICHAEL.BOLDIN@PHIL.FRB.ORG

CONTACT INFORMATION

TO PARTICIPATE IN OUR SURVEYS:

SIGNIFICANTLY LOWER

SLIGHTLY LOWER SAME SLIGHTLY

HIGHERSIGNIFICANTLY

HIGHERNOT

APPLICABLE NO

RESPONSEDIFFUSION

INDEX

A: What is the assessment of changes in business conditions? (General Activity)

1. For the REGION

2016 compared with 2015 1.4% 9.6% 20.5% 53.4% 7.5% 2.7% 4.8% 50.0

2017 compared with 2016 0.7% 5.5% 19.9% 54.1% 7.5% 4.1% 8.2% 55.5

2. For your COMPANY

2016 compared with 2015 6.2% 12.3% 15.1% 42.5% 18.5% 0.0% 5.5% 42.5

2017 compared with 2016 2.1% 6.8% 16.4% 48.6% 15.1% 2.1% 8.9% 54.8

B. Specifi c Company Performance Measures

1. New Orders

2016 compared with 2015 4.1% 12.3% 13.0% 39.0% 11.0% 11.6% 8.9% 33.6

2017 compared with 2016 0.7% 6.2% 12.3% 43.8% 11.0% 12.3% 13.7% 47.9

2. Sales or Revenues

2016 compared with 2015 5.5% 13.0% 17.8% 46.6% 12.3% 0.7% 4.1% 40.4

2017 compared with 2016 1.4% 4.8% 19.9% 48.6% 14.4% 1.4% 9.6% 56.8

3. Unfi lled Orders

2016 compared with 2015 1.4% 4.8% 17.1% 7.5% 2.7% 28.8% 37.7% 4.1

2017 compared with 2016 0.7% 2.1% 19.9% 7.5% 2.7% 28.8% 38.4% 7.5

4. Inventories (Finished Goods or Goods for Sale)

2016 compared with 2015 0.0% 2.7% 14.4% 6.8% 0.7% 32.2% 43.2% 4.8

2017 compared with 2016 0.7% 2.1% 13.0% 6.8% 0.7% 33.6% 43.2% 4.8

5. Prices Paid

2016 compared with 2015 0.0% 3.4% 37.0% 37.0% 1.4% 7.5% 13.7% 34.9

2017 compared with 2016 0.0% 2.7% 26.0% 47.9% 1.4% 7.5% 14.4% 46.6

6. Prices Received

2016 compared with 2015 0.7% 10.3% 37.0% 32.2% 1.4% 6.2% 12.3% 22.6

2017 compared with 2016 1.4% 10.3% 32.3% 33.6% 2.1% 6.8% 13.7% 24.0

7. Number of Employees — Full-time Permanent

2016 compared with 2015 1.4% 15.1% 35.6% 34.9% 5.5% 0.7% 6.8% 24.0

2017 compared with 2016 1.4% 9.6% 28.8% 44.5% 2.7% 1.4% 11.6% 36.3

8. Number of Employees — Part-Time, Temporary, and Contract

2016 compared with 2015 1.4% 4.1% 48.6% 31.5% 3.4% 4.1% 6.8% 29.5

2017 compared with 2016 2.1% 5.5% 42.5% 31.5% 3.4% 4.1% 11.0% 27.4

APPENDIXSURVEY RESULTS

MOST IMPORTANT PROBLEM SECOND-MOST IMPORTANT PROBLEM

THIRD-MOST IMPORTANT PROBLEM

C: What are the three most important problems your business is facing at this time?

Labor costs — wages 13.0% 12.3% 14.4%

Labor costs — benefi ts 10.3% 15.1% 8.2%

Labor — quality 9.6% 15.8% 9.6%

Financing and interest rates 2.7% 4.1% 2.1%

Cost of raw materials 0.7% 1.4% 2.7%

Competition — foreign 2.1% 3.4% 2.1%

Competition — domestic 21.9% 15.8% 17.8%

Poor sales 13.0% 8.2% 6.8%

Government regulation 10.3% 8.9% 6.8%

Taxes 6.8% 6.8% 10.3%

Other (write-in) 6.2% 2.7% 4.8%

No response 3.4% 5.5% 14.4%

APPENDIXSURVEY RESULTS

SIGNIFICANTLY LOWER

SLIGHTLY LOWER SAME SLIGHTLY

HIGHERSIGNIFICANTLY

HIGHERNOT

APPLICABLE NO

RESPONSEDIFFUSION

INDEX

9. Average Hours Worked Per Week

2016 compared with 2015 0.7% 4.8% 52.7% 30.8% 3.4% 2.1% 5.5% 28.8

2017 compared with 2016 0.0% 4.1% 47.9% 33.6% 2.7% 2.1% 9.6% 32.2

10. Wage and Benefi t Costs

2016 compared with 2015 0.7% 3.4% 21.2% 63.0% 6.8% 0.0% 4.8% 65.8

2017 compared with 2016 0.0% 0.7% 19.2% 61.0% 9.6% 0.7% 8.9% 69.9

11. Capital Expenditures — Physical Plant

2016 compared with 2015 1.4% 2.7% 39.0% 28.1% 7.5% 8.2% 13.0% 31.5

2017 compared with 2016 0.7% 4.8% 30.8% 30.1% 8.2% 8.2% 17.1% 32.9

12. Capital Expenditures — Equipment and Software

2016 compared with 2015 1.4% 4.1% 44.5% 34.2% 4.8% 1.4% 9.6% 33.6

2017 compared with 2016 0.0% 3.4% 39.7% 32.9% 8.9% 2.1% 13.0% 38.4

OWN IT: THE POWER OF WOMEN AT WORK FEATURING SALLIE KRAWCHECKWEDNESDAY, JANUARY 258:00 – 10:30 AM

THE ACADEMY OF NATURAL SCIENCES • 1900 BENJAMIN FRANKLIN PARKWAY PHILADELPHIA, PA 19103

On January 25, join the Arts + Business Council, a Council of the Chamber of Commerce for Greater Philadelphia, in bringing the business, legal, technology, and creative communities together for an event on advancing women in business and tapping into the $11 trillion female investment market, featuring former Wall-Street-powerhouse turned leather jacket wearing-entrepreneur, Sallie Krawcheck.

GROWTH MATTERS: ACTIVATING GREATER PHILADELPHIA’S MIDDLE MARKETTUESDAY, JANUARY 318:00 – 10:00 AM

DOUBLETREE SUITES PHILADELPHIA WEST640 FOUNTAIN ROADPLYMOUTH MEETING, PA 19462

Join us to explore what the Chamber’s Middle Market Action Team’s in-depth, fi rst-of-its-kind study indicates about our region’s middle market and why supporting growth within this segment has broad implications for the overall regional economy. You will hear from featured speakers, including Thomas Stewart, Executive Director, National Center for the Middle Market, who will discuss how regions and cities across the U.S. are activating their middle market, and McKinsey & Co. who will highlight the report fi ndings. A conversation among regional middle market executives will follow to explore how the business community can collaborate to better support this market sector.

GROWTH MATTERS: THE FUTURE OF HIGHER EDUCATION’S DELIVERY MODELTUESDAY, MARCH 148:00 – 10:00 AM

CENTER CITY LOCATION TBD

Stephen Spinelli Jr. and Stephen K. Klasko will discuss how the historic merger of Philadelphia University and Thomas Jefferson University is following evolving trends in higher education. After their discussion, regional experts will detail how other industries are rethinking their methodologies when working with higher education institutions.

upcoming chamber events

learn more and register at CHAMBERPHL.COM/EVENTS

notes

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