National Realty Investment Advisors, LLC Confirms Comcast’s Growth Contributions in Philadelphia
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Transcript of National Realty Investment Advisors, LLC Confirms Comcast’s Growth Contributions in Philadelphia
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Karen Buchholz
Senior Vice President, Administration
Comcast Corporation
September 17, 2014
Building Industry Association of
Philadelphia Housing Conference
The Comcast Effect
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“Some are so very studious of
learning what was done by the
ancients that they know not how
to live with the moderns.” –
William Penn
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Comcast Philadelphia Presence
• Approximately 6,000 people employed in the City and over 13,000
people across the Commonwealth.
• Locations include Comcast Center, 1500 Market, Logan Square,
Xfinity Live!, Wells Fargo Center, and regional offices.
• Multiple departments and functions in the City, including HQ, Finance,
Comcast University, Legal, Community Investment, Advertising,
Comcast Converged Products, National Engineering and Technology
Operations, Comcast-Spectacor, among others.
• Since 2001, contributed more than $159 million in cash and in-kind
support to non-profits.
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*Minority interest and/or non-controlling interest.
*
*
XFINITY TV
XFINITY Internet
XFINITY Voice
Other Digital and Other
Comcast Cable
Cable Networks
Parks
Broadcast
Film
Uniquely positioned at the intersection of media and technology
*
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Comcast Center
• Building Comcast Center gave us the
opportunity to create a vertical campus
and an exciting home for workers that
reflects our culture.
• The Comcast Center continues to bring
pride and job growth to Philadelphia as
one of the most high-tech,
environmentally responsible, and
advanced corporate multi-media office
buildings in Pennsylvania and the
country.
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The Comcast Experience
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Comcast Innovation and Technology Center
Overview:
• 1.517 million sq. ft.
• 59 stories
• Tallest building in Philadelphia
• 8th tallest building in the U.S.
• Tallest building in the U.S. outside of New York
and Chicago
• Connected to Suburban Station
Home to:
• Comcast’s growing workforce of technologists,
engineers and software architects
• NBC 10 & Telemundo 62
• Four Seasons hotel
• Restaurants
• Incubator space for local technology startups
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Comcast Innovation and Technology Center
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Our Research Led to Three Big Themes
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Diverse Work Styles of Comcast Employees
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The Comcast Innovation and Technology Center
Projected Economic Impact
Source: Econsult Solutions (2014)
• $2.75 billion in economic activity in the
Commonwealth of Pennsylvania and $1.73
billion in economic activity in the City of
Philadelphia during the construction period
alone.
• 20,700 temporary jobs in Pennsylvania as
a result of the direct and indirect
construction-related activity and 6,300
temporary jobs in Philadelphia.
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The Comcast Innovation and Technology Center
Projected Economic Impact
• Office, hotel, and retail components will result in a
very large amount of ongoing direct and indirect
economic activity for the City and Commonwealth:
o In the Commonwealth, the Comcast Innovation
and Technology Center and its spillover activity
will generate an annual increase of $1.05 billion
in expenditures, supporting 4,000 jobs and $447
million in earnings. It will also produce $30.7
million more in annual Commonwealth tax
revenues.
o In the City, the Comcast Innovation and
Technology Center and its spillover activity will
generate an annual increase of $721 million in
expenditures, supporting 2,800 jobs and $339
million in earnings. It will also produce $21.5
million more in annual local tax revenues.
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Home Price Index for the Area Near Comcast Center
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Wealth Gain and Annual Property Tax Revenue
Gain Associated with a 5-10% Premium
Conferred on Nearby Houses by Proximity to
Comcast Center
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Minority/Women/Disabled-Owned Businesses
Key to Success
• Nearly $100 million worth of vendor contracts related to construction
activity for Comcast Center were awarded to 73 MWDBs, which
comprised 45% of the vendors on the project.
• On a combined basis, over 30% of qualified construction contracts
entered into by Comcast and Liberty went to MWBs.
• On the employment side, over 338,000 hours of work were
performed by minorities and women, representing 21% of all hours
worked on the project.
• Approximately 40% of the Comcast design work was awarded to
minority and women-owned businesses and over 60% of the FF&E
contracts were awarded to minority and women-owned businesses.
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Philadelphia Continues to Grow
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www.comcastcorporation.com