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Can Corporate Philanthropy Promote Regional Growth?

Corporate community involvement is fundamentalto the economic vitality of the Philadelphia urban region and the future of business itself.

"Katz and Mills contend that Philadelphia’s future, like that of so many urban areas undergoing economic deterioration, depends on attracting a new breed of business and employee – designated in the FRB report as knowledge-based firms and workers – with the right kinds of jobs and environment... According to Katz, GPF attempted 'to evolve a strategy for the region ... that would take actions and support investments, programs and initiatives to help transform the region from a service-based to a knowledge-based economy. The central thesis of this strategy is that the factories of the 21st century are the universities, the medical research institutions and the laboratories.'" Editor's note: Free registration is required to access this article.

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