the comcast effect - bia of philadelphia philadelphia presence • approximately 6,000 people...

Karen Buchholz

Senior Vice President, Administration

Comcast Corporation

September 17, 2014

Building Industry Association of

Philadelphia Housing Conference

The Comcast Effect

“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

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.

*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

*

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.

The Comcast Experience

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

Comcast Innovation and Technology Center

Our Research Led to Three Big Themes

Diverse Work Styles of Comcast Employees

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.

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.

Home Price Index for the Area Near Comcast Center

Wealth Gain and Annual Property Tax Revenue

Gain Associated with a 5-10% Premium

Conferred on Nearby Houses by Proximity to

Comcast Center

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.

Philadelphia Continues to Grow

www.comcastcorporation.com