philadelphia-business

Philly’s real estate industry mobilizes to lobby City Council on 10-year tax abatement proposal

BY: - December 3, 2019

The draft bill, proposed by Council President Darrell Clarke, would grant property owners the full 100 percent tax abatement in the first year, then cut the size of the subsidy to 90 percent in the second year, 80 percent in the third year, 70 percent in the fourth year, and so on.

Black-owned firms make up larger share of Philadelphia’s businesses than previously reported

BY: - December 3, 2019

The figure still doesn’t match up with city demographics, where Blacks are 44 percent of the population, whites are 34 percent, Latinos are 15 percent, and Asians are 8 percent.