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