City spent 70% of $5.8B expenditure at local businesses, says report

More than $4 billion — or 70 percent — of the city’s $5.7 billion expenditure was paid to businesses with offices in Philadelphia since July last year.

A majority of the city's money went to local businesses in the last year, according to a report by City Controller Alan Butkovitz.

More than $4 billion — or 70 percent — of the city's $5.7 billion total expenditure was paid to entities with offices in Philadelphia since July last year, according to the report. Most of the funds went to offices located in Center City and West Philadelphia.

The far Northeast neighborhoods with zip codes 19116 and 19154, a section of North Philadelphia in the Hunting Park neighborhood, Germantown and the neighborhoods around the Southwest section of the city also received large portion of the funds.

The highest-paid entity, however, was Community Behavioral Health Services at 801 Market St., which received $1.2 billion.

The remaining $1.7 billion were split among entities in Pennsylvania, across the country and internationally. More than $650 million went to businesses in Pennsylvania, while $1 billion was spent domestically and internationally.

The report also found that tax revenues for November totaled nearly $175 million — 2 percent higher year-over-year. $142.5 million went to the general fund, while the remaining $32.1 million went to the Pennsylvania Intergovernmental Cooperation Authority.

The unemployment rate was also at 6.4 percent last month, which is 2.7 percent lower than it was year-over-year.

Source: Philadelphia Business Journal