philadelphia investors conference: presentation by comcast's david cohen

2013 Philadelphia Investor Conference2013 Philadelphia Investor Conference

David L. CohenExecutive Vice President

Comcast Corporation

April 18, 2013

DISCLAIMERThe information contained herein was

prepared as part of a presentation scheduled to have been given April 18 and April 19, 2013,

at an investor conference conducted by the City of Philadelphia, and is provided solely in

response to a Right-to-Know Request, Slaughter CP 2013-1250. No representation is made as to the accuracy and completeness of such information, nor shall its being provided

herewith create any implication that there has been no change in the matters described or

referred to therein since the dates of the conference or the date as of which particular

information is given, if earlier.

Uniquely positioned in entertainment, information and communications

Comcast Cable Cable Networks ParksBroadcast Film

q y p ,

Comcast Cable Cable Networks

*

XFINITY TV

XFINITY Internet

XFINITY Voice

*

Other Digital and Other

*

Other Digital and Other*

*

*Minority interest and/or non-controlling interest.

*SEE DISCLAIMER ON COVER PAGE

Comcast and NBCUniversal Across America

75,000Comcast

Cares Day

Employer of choice for

129,000Largest video provider in the U S

USA Network top-rated 11

Cares Dayvolunteers

F th

,employees

the U.S.

5

pcable channel

Leading fiber optic network in the U.S.

Fourthlargest residential phone company in

14 22Mvideo

customers

5Top five

debtor in the U.S.

Largest residentialbroadband

p ythe U.S.

1$2.5B

customers U S

NBC Nightly News with 1 broadband

provider in the U.S.

1$Comcast charitable

contributions since 2001

News with Brian Williams most-watched evening news

1 Fastest In-Home WiFi


Philadelphia Economy & Job Sectors• 7th largest economy in the country (estimated output of

$352.7 billion).*

• Major shift from manufacturing to service sector between1980-2000**o1980: 57% employed in service sector (vs 54%o1980: 57% employed in service sector (vs. 54%

nationally)o 2000: 71% employed in service sector (vs. 65%

nationally)nationally)

• Percentage of workers in 2012 employed by:*o The private sector: 82%o The private sector: 82%o Government agencies: 14%o Their own businesses: 4%

* Philadelphia 2013: The State of the City (Pew)** “Forces Shaping Philadelphia’s Future” (Anthony Santomero, President, Federal Reserve Bank of Philadelphia, 2002)


Philadelphia Manufacturing vs. Health & EducationTh I t f “Ed ” d “M d ”The Importance of “Eds” and “Meds”

1950 – 2010

300 000

400,000 365,500

200,000

300,000193,538

19502010

100,000 49,01624,720

2010

0Manufacturing Health &

EducationSources:1950 U S Census1950 U.S. CensusHIS & Walter Licht, Professor of History at the University of Pennsylvania“Philadelphia: Smart City. Smart Choice” - PDICBureau of Labor Statistics


Greater Philadelphia Employment Change by SectorFurther Moving from a Manufacturing Based Economy in 1990sFurther Moving from a Manufacturing-Based Economy in 1990sto a Knowledge-Based Economy Today

125.6

150.0Professional & B i

100.5110.1

100.0

0s)

Trade

& Business Services

Leisure & Hospitality

5.0

25.3

8.4

20.4

31.4

16.17.7

44.737.9

11.1

0 0

50.0

of Jo

bs (1

,000

Construction & Natural

Resources

Trade, Transportation &

UtilitiesFinancial Activities

Services

Government

‐24.3‐29.9

‐24.1

‐13.1

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‐50.0

0.0

e in Num

ber o

Information

Education & Health

Services

Other Services

‐66.1

‐107.8

‐100.0Change

Manufacturing

‐150.01990 to 2000 2000 to 2013

Manufacturing

Copyright ©2013 HIS Inc. All Rights Reserved.


Strategic public and private investments, as well as locational assets, have created a stable economic base and positioned Philadelphia for growth

Center City Di t i t

Pennsylvania C ti

University of Pennsylvania & CHOP k

PIDC acquiresDistrict

begins operations

Convention Center opens

& CHOP make major

commercial investments

acquires 1,200 acre Navy Yard

site

1991 1993 Mid‐1990’s 20001991 1993 Mid 1990 s 2000

Center City catalyzesPhiladelphia’s growth

Dynamic and

i

Innovation drives strong growth in Education and Healthcare

Public investment spurs major private development at

Strong Professional & Business Services and

growing Leisure and Hospitality industry

industry

Revitalized University City home to many of

The Navy Yard

Industrialsector poisedServices and

Financial Activities industries

industry many of Philadelphia’s eds & meds

sector poised for growth

7


Smart Company.Philadelphia’s Economy Is Diverse and BalancedPhiladelphia s Economy Is Diverse and Balanced

Job Sector Percentage of Jobs

• Education & Healthcare 34%

• Professional & Business Services 17%

• Industrial & Manufacturing 15%

• Government 14%

• Real Estate, Finance & Insurance 10%

• Arts, Culture, Leisure & Hospitality 10%

PIDC 2010


Today, Education & Health Services Represents the Largest Employment Base in the City and Its Strongest Growth Sector

• Sector employed 193,538 people in 2010, 31% of totalemployment.

• More than 250,000 students are enrolled in 101 colleges anduniversities across the Philadelphia area.

• Strategic investment in retaining college graduates through the“Campus Philly” initiative.

• Philadelphia’s top institutions create the heart of the second largestmedical and educational regional center in the U.S.

• Recent college and university graduates staying in Philadelphiaincreased from 29% in 2004 to 48% in 2010.


Key Regional Institutions Smart Organizations & IncubatorsIncubators

• Ben Franklin Technology PartnersPartners

• Greater Philadelphia Innovation Cluster

• DreamIt VenturesDreamIt Ventures• Bread Board• NextFab• Indy Hall• Corzo Center Creative

Incubator• Project Liberty Digital Incubator

(- (Partners are Drexel, BFTP, DreamIt Ventures, and Philadelphia Media Network)


Investments in Leisure and Hospitality Infrastructure Reap Strong Rewards

• 5,000 hotel rooms in 1998 versus 11,000 today

$786 illi i f th P l i• $786 million expansion of the PennsylvaniaConvention Center completed in March 2011

• New attractions include: $200 million Barnes,Foundation $150 million National Museum ofFoundation, $150 million National Museum ofAmerican Jewish History, and the $185 millionNational Constitution Center

• Ranked #1 for Culture and #3 for Restaurants by• Ranked #1 for Culture and #3 for Restaurants byTravel + Leisure Magazine, 2011 America’s City’sRatings

• 37 4 million visitors to the region in 201037.4 million visitors to the region in 2010

• 633,000 international visitors to the City in 2010,with Philadelphia as one of the fastest growinginternational destination in the United States ininternational destination in the United States inrecent years


City Offers Smart Economic Incentives• Tax advantaged location options within

Keystone Opportunity Zones.

10 l t t t b t t ll• 10-year real estate tax abatement on all improvements and new construction.

• Low-interest senior financing for up to 50%Low interest senior financing for up to 50% of new development cost.

• Low-interest subordinate financing for all capital investment.

• Workforce recruiting and training grants.

• Fast track permitting review.

• Elimination of BPT on investment and hedge fundshedge funds.


Comcast and Philadelphia

• For 50 years, Comcast has had anunwavering commitment to thePhiladelphia communityPhiladelphia community.

• Building Comcast Center gave us theopportunity to create a vertical campusopportunity to create a vertical campusand an exciting home for employees thatreflects our culture.

• The Comcast Center continues to bringpride and job growth to Philadelphia asone of the most high-tech,g ,environmentally responsible, andadvanced corporate multi-media officebuildings in Pennsylvania and thecountry.


Our Philadelphia Presence

• Over 10,700 people employed in the Philadelphia region.

L ti i l d C t C t 1500 M k t L S• 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, Innovation Technology Joint Venture with Verizon Wireless, National Engineering and Technology Operations, Comcast-Spectacor, among thothers.

• Since 2001, contributed more than $72.4 million in cash and in-kind support to non-profits.


Ab t C t C tAbout Comcast Center

• Finished in 2008 – it has redefined the Philadelphia skyline, enhanced theFinished in 2008 it has redefined the Philadelphia skyline, enhanced the urban experience in our City, and contributed to the economic vitality of the region. o 58-stories (56 occupiable), 975-feet higho One of the tallest LEED Gold-certified, technologically-advanced buildings in

the country with natural light and high ceilings.Water-saving fixtures save 3 million gallons of drinking water every year, using 41% less water than a typical office buildingusing 41% less water than a typical office building.High-performance glass curtain wall that blocks 60% of the sun’s heat while allowing 70% of the sun’s visible light to be transmitted to office space, reducing energy used for lighting and air conditioning.space, reducing energy used for lighting and air conditioning.

o Boasts world’s largest 4MM LED video wall, which has become a Philadelphia must-see tourist destination.

o A statue of William Penn was returned to the highest point in Philadelphia g p pduring construction. The “Curse of Billy Penn” was finally lifted in 2008 when Phillies won the World Series.


Minority/Women/Disabled-Owned Businesses K t SKey to Success• Nearly $100 million worth of vendor contracts related to construction

activity for Comcast Center were awarded to 73 MWDBs whichactivity 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• 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• 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 businessescontracts were awarded to minority and women-owned businesses.


Astonishing Economic Impact• Construction of Comcast Center generated almost $1.26 billion

in total economic activity.o In Philadelphia, supported over 5,400 jobs and almost $210 million in

earnings while generating $12 million in tax revenues.o Statewide, over $2 billion in total expenditures occurred, supporting over

17,000 jobs, and over $650 million in earnings and over $44 million in taxrevenues were generatedrevenues were generated.

• Each year after full occupancy, Comcast Center is estimated togenerate almost $1 16 billion in total expenditures supportinggenerate almost $1.16 billion in total expenditures supportingover 6,500 jobs and almost $460 million in earnings within theCity of Philadelphia.o Statewide it is estimated at almost $1 65 billion in total expenditureso Statewide, it is estimated at almost $1.65 billion in total expenditures

supporting over 9,000 jobs and almost $600 million in earnings each year.

Source: Econsult Corporation (2008)


www.comcastcorporation.com


philadelphia investors conference: presentation by comcast's david cohen

Documents

city of philadelphia

manufacturing based

manufacturingbased economy

largest economy

private sector

service sector between1980

service sector vs

u s census1950