Authorizing the Council Committee on Commerce and Economic Development to hold hearings for the purpose of reviewing the operations, programs and strategic plans of the public and quasi-public entities within the jurisdiction of the committee in order to evaluate their role in the promotion of commerce, economic development and employment within the City of Philadelphia.

WHEREAS, Pursuant to the Rules of Council, the Commerce and Economic Development Committee has jurisdiction on all matters relating to the Department of Commerce, the City Representative, the Philadelphia Industrial Development Corporation, the Philadelphia Authority for Industrial Development, the Philadelphia Commercial Development Corporation and the Philadelphia Workforce Development Corporation; and

WHEREAS, The committee is charged with reviewing and evaluating all matters "relating to the promotion of commerce, economic development and employment within the City;" and

WHEREAS, The City has worked to revitalize Center City, increase the number of hotels, promote the Avenue of the Arts, build new professional sports stadiums and expand the airport all in an effort to promote hospitality and tourism; and

WHEREAS, While these efforts have greatly enhanced the vitality of Philadelphia and have generated jobs and revenues for the City, the variability of the economic climate requires a diversified economic base; and

WHEREAS, The various economic development departments and authorities have a critical role to promote the short and long-term economic health of the City by stimulating business and commerce and attracting and retaining private investment in the City; and

WHEREAS, These public and quasi-public entities administer millions of local, state and federal funds and several entities have bond authorization capacity which enables hundreds of millions of dollars to be available for targeted investment in projects and programs; and

WHEREAS, There needs to be a coordinated, comprehensive economic and workforce development strategy to insure the long-term health and vitality of the City and its citizens; now therefore

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Committee on Commerce and Economic Development be authorized to hold hearings for the purpose of reviewing the operations, programs and strategic plans of the public and quasi-public entities within the jurisdiction of the committee in order to evaluate their role in the promotion of commerce, economic development and employment within the City of Philadelphia.

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