Jan 19, 2017, 4:37 PM
The suburbs draw firms looking to tap into Philadelphia’s wealth of tech talent.
While much of the recent attention from VC firms and tech startups across Philadelphia has been focused on University City and The Navy Yard, the suburbs are still a major player for well-established tech firms.
Featuring large blocks of space, relatively lower taxes than the CBD and easy city access, suburban submarkets are a big draw for global companies looking to tap into Philadelphia’s wealth of tech talent. Though pharmaceuticals remain a major player in the suburban economy, the tech industry’s dominated the Route 202 corridor.
IT service companies, led by Unisys, Siemens, Cisco and Navteq, have cultivated a strong tech community in Malvern/Exton. And in King of Prussia/Wayne, locally-headquartered Sungard and Deacom represent a similar concentration of growing regional tech, albeit on a smaller scale.
As development in both submarkets continues its shift towards denser, mixed use patterns, expect both to become even more attractive to companies looking for urban-like amenities that draw in top young talent.
Research: Gina Lavery | Editor: Michael Cronin