The City of Philadelphia and a portion of West Philadelphia adjacent to Drexel’s University City Campus were among three cities and five areas, respectively, selected by President Barack Obama as Promise Zones earlier this year. Areas earning the designation become eligible for employer tax incentives to create jobs and attract private capital.
Drexel will play a key role in revitalization efforts in its West Philadelphia neighborhoods.
The West Philadelphia Promise Zone is a nearly two-square-mile area bordered by the Schuylkill River on the east, Girard avenue on the north, 48th Street to the west and Sansom Street to the south. It is home to 35,315 residents.
The Philadelphia Promise Zone plans to use the area’s assets, including its proximity to transportation, strong anchor institutions like Drexel, the Lancaster Avenue commercial corridor, Fairmount Park and the Philadelphia Zoo, to support the creation of jobs, increase economic activity, improve educational opportunities, reduce violent crime and leverage private investment.