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Economic Impact | Drexel University

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The University pays more than $350 million in wages to employees from the tri-state region each year.</p> <p> Annually, Drexel employees pay $17.5 million in wage taxes to the city of Philadelphia. Wage taxes are a major funding source for the city, providing nearly half of the city’s revenue.</p> </div> <div class="rich-text "> <section class="image-block image-block--float-right " > <div class="image-block__image-wrapper"> <picture> <source srcset="/~/media/Drexel/Core-Site-Group/Core/Images/research-innovation/cancer-3d-printer-3200x1600/cancer-3d-printer-3200x1600_16x9.jpg 1x, 2x" media="(min-width: 860px)" /> <source srcset="/~/media/Drexel/Core-Site-Group/Core/Images/research-innovation/cancer-3d-printer-3200x1600/cancer-3d-printer-3200x1600_16x9.jpg?w=816&amp;hash=A7EF4DAA4AA359E894B011ABAD44C926 1x, /~/media/Drexel/Core-Site-Group/Core/Images/research-innovation/cancer-3d-printer-3200x1600/cancer-3d-printer-3200x1600_16x9.jpg?w=1632&amp;hash=8B09B3FF3FF9BB24B2198108F9999024 2x" media="(min-width: 481px)" /> <source srcset="/~/media/Drexel/Core-Site-Group/Core/Images/research-innovation/cancer-3d-printer-3200x1600/cancer-3d-printer-3200x1600_16x9.jpg?w=432&amp;hash=BD9FC82116F16C97E76099F38D0B729A 1x, /~/media/Drexel/Core-Site-Group/Core/Images/research-innovation/cancer-3d-printer-3200x1600/cancer-3d-printer-3200x1600_16x9.jpg?w=864&amp;hash=2372522821C35EB1EE3ADD8A3E7F08BA 2x" media="(min-width: 200px)" /> <img alt="3d Cancer Research lab" src="/~/media/Drexel/Core-Site-Group/Core/Images/research-innovation/cancer-3d-printer-3200x1600/cancer-3d-printer-3200x1600_16x9.jpg" /> </picture> </div> </section> <h2>Innovation</h2> <p>Drexel was named the most innovative mid-sized research university in the country in 2020 in a report by the George W. Bush Institute and Opus Faveo Innovation Development. Research at Drexel generates more than $123 million in annual expenditures for sponsored projects and thousands of scholarly and creative works. To date, the University has generated more than 100 inventions as well as over 44 U.S. patents and Drexel ranked 51st in the National Academy of Inventors and Intellectual Property Owners Association’s list of the world’s top 100 universities for patents granted in the country in 2018.</p> </div> <div class="rich-text "> <h2>Education</h2> <p>Drexel is committed to providing full-tuition scholarships for low-income students from Philadelphia and supporting Philadelphia students in grades pre-K through 12.</p> </div> <div class="rich-text "> <section class="image-block image-block--float-right " > <div class="image-block__image-wrapper"> <picture> <img alt="people holding shovels for ground breaking construction" src="/~/media/Drexel/Core-Site-Group/Core/Images/about/groundbreaking-crop.jpg" /> </picture> </div> </section> <h3>Samuel Power Elementary and the Science Leadership Academy Middle School</h3> <p>Drexel raised close to $42 million for a new K-8 school building on the former University City High School site in West Philadelphia that houses students from <a href="http://drexel.edu/news/archive/2019/December/Drexel-School-District-Break-Ground-on-Facility-for-K-8-Public-Schools">Samuel Powel Elementary and the Science Leadership Academy Middle School</a>. Both schools continue to be owned and operated by the School District of Philadelphia.</p> </div> <div class="rich-text "> <section class="image-block image-block--float-left " > <div class="image-block__image-wrapper"> <picture> <img alt="map of the Promise Zone" src="/~/media/Drexel/Core-Site-Group/Core/Images/about/promise-boundaries.jpg" /> </picture> </div> </section> <h3>Promise Zone</h3> <p>In collaboration with the city of Philadelphia and the School District, Drexel secured a <a href="https://drexel.edu/now/archive/2019/December/Drexel-School-District-Break-Ground-on-Facility-for-K-8-Public-Schools/">$30 million U.S. Department of Education Promise Neighborhood grant</a> in 2016. The five-year grant provides $6 million annually to support seven neighborhood schools in the <a href="https://drexel.edu/uhc/resources/briefs/West-Philadelphia-Promise-Zone/">Promise Zone</a>.</p> </div> <div class="rich-text "> <h2>West Philadelphia Action for Early Learning (AFEL) Initiative</h2> <p>Drexel has also raised close to $8 million for the <a href="/civicengagement/centers-initiatives/action-for-early-learning">West Philadelphia Action for Early Learning (AFEL) Initiative</a>, a collaboration led by Drexel with local educational and social services agencies and community stakeholders to support early childhood education for children and their families in the 19104 zip code.</p> </div> <section class="image-block " > <div class="image-block__video-wrapper js-video" data-id="video-B0cesDNAvCY" data-videotype="youtube" data-videourl="https://www.youtube.com/watch?v=B0cesDNAvCY&amp;rel=0" data-video="B0cesDNAvCY"> <button class="image-block__video-overlay js-video__trigger" style='background-image:url(/~/media/Drexel/Core-Site-Group/Core/Images/video-thumbnails/action-for-early-learning-thumbnail/action-for-early-learning-thumbnail_16x9.jpg?w=1290&hash=869B5DBF4DABE2EF2F1298F9C24C5C77)'> <span class="image-block__video-icon"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="24" height="24" viewBox="2 2 21 21" aria-hidden="true" role="img" focusable="false"> <g fill-rule="evenodd"> <path d="M21,12 C21,16.9704866 16.9704866,21 12,21 C7.02951343,21 3,16.9704866 3,12 C3,7.02951343 7.02951343,3 12,3 C16.9704866,3 21,7.02951343 21,12 Z M20.1428571,12 C20.1428571,7.50290036 16.4970996,3.85714286 12,3.85714286 C7.50290036,3.85714286 3.85714286,7.50290036 3.85714286,12 C3.85714286,16.4970996 7.50290036,20.1428571 12,20.1428571 C16.4970996,20.1428571 20.1428571,16.4970996 20.1428571,12 Z M16.2857143,12.2142857 L9.85714286,16.7142857 L9.85714286,7.71428571 L16.2857143,12.2142857 Z"/> </g> </svg> </span> </button> <div id="video-B0cesDNAvCY"></div> </div> <div class="image-block__title"> Action for Early Learning </div> <div class="image-block__caption"> Action for Early Learning is a multi-organization initiative, led by Drexel University, to improve the quality of early education for children who live and go to school in the West Philadelphia Promise Zone. </div> </section> <div class="rich-text "> <section class="image-block image-block--float-right " > <div class="image-block__image-wrapper"> <picture> <img alt="Drexel Community" src="/~/media/Drexel/Core-Site-Group/Core/Images/about/Community-mres.jpg" /> </picture> </div> </section> <h2>Community</h2> <p><strong>Drexel upholds its civic responsibility and accountability by maintaining deep partnerships with local organizations and through dedicated financial resources and volunteerism.</strong></p> <p>Drexel contributes $2 million annually to community organizations that provide safety, streetscaping, business development, neighborhood cleanup, and other services. Some of these include the <a href="https://www.universitycity.org">University City District (UCD)</a>, <a href="https://www.theenterprisecenter.com">The Enterprise Center (TEC)</a>, <a href="https://www.la21philly.org">Lancaster Avenue 21st Century Business Association (LA21)</a>, and the <a href="https://www.schuylkillbanks.org">Schuylkill River Development Corporation (SRDC)</a>.</p> <p>Drexel’s <a href="https://drexel.edu/cnhp/practices/11th-street/">Stephen and Sandra Sheller 11th Street Family Health Services</a> offers behavioral health, dental, and physical therapy and other health services to low-income families and residents of public housing. Health care professionals provide more than $1 million in uncompensated care for uninsured or underinsured Philadelphia residents.</p> <p>The <a href="https://drexel.edu/dornsifecenter/">Dornsife Center for Neighborhood Partnerships</a> is a community-based resource center for West Philadelphia residents and partner organizations. Drexel invests directly in staff and programming, attracts private investment dollars, and works closely with an advisory board of community members to direct programs and services that best meet the needs of residents. The community center was established in 2012 with a gift of $10 million from alumna Dana (’83) and David Dornsife. The Dornsife Center hosts community development programs and <a href="https://drexel.edu/civicengagement/centers-initiatives/economic-inclusion/">Drexel’s institutional economic inclusion initiatives</a> that create a bridge between local needs and ambitions and Drexel’s sphere of influence with its suppliers and business partners, faculty, staff, and students.</p> </div> <div class="rich-text "> <section class="image-block image-block--float-left " > <div class="image-block__image-wrapper"> <picture> <img alt="Local business near Drexel" src="/~/media/Drexel/Core-Site-Group/Core/Images/about/Procurement-mres.jpg" /> </picture> </div> </section> <h2>Local and Inclusive Procurement</h2> <p><strong>Drexel prioritizes local purchasing and small business support for Philadelphia-based businesses, and in FY2019 Drexel directed $95 million to the effort. Drexel committed $35 million of its total spending to a variety of diverse businesses.</strong></p> <p><a href="https://drexel.edu/procurement/supplier-inclusion/overview/">The Drexel Supplier Inclusion Program</a> is a University initiative to support and promote the growth and development of small minority-, women-, veteran-, and LGBTQ+-owned businesses. The program uses strategies to open the supply chain to more local businesses, provide opportunities to learn how to acquire institutional contracts, and provide ways for neighborhood organizations to encourage business success.</p> </div> <div class="rich-text "> <section class="image-block image-block--float-right " > <div class="image-block__image-wrapper"> <picture> <source srcset="/~/media/Drexel/Core-Site-Group/Core/Images/about/health-sciences-building-pathway/health-sciences-building-pathway_16x9.jpg 1x, 2x" media="(min-width: 860px)" /> <source srcset="/~/media/Drexel/Core-Site-Group/Core/Images/about/health-sciences-building-pathway/health-sciences-building-pathway_16x9.jpg 1x, 2x" media="(min-width: 481px)" /> <source srcset="/~/media/Drexel/Core-Site-Group/Core/Images/about/health-sciences-building-pathway/health-sciences-building-pathway_16x9.jpg?w=432&amp;hash=5AE2224C92606B0B64B95C0BC2875DA2 1x, /~/media/Drexel/Core-Site-Group/Core/Images/about/health-sciences-building-pathway/health-sciences-building-pathway_16x9.jpg?w=864&amp;hash=E40FE3E6A0D2AB2276E169F08F956902 2x" media="(min-width: 200px)" /> <img alt="Health Sciences Building" src="/~/media/Drexel/Core-Site-Group/Core/Images/about/health-sciences-building-pathway/health-sciences-building-pathway_16x9.jpg" /> </picture> </div> </section> <h2>Construction</h2> <p><strong>New academic and commercial building projects create local jobs and business opportunities for residents.</strong></p> <p>Drexel University has completed roughly $600 million in third-party real estate development since 2010. In 2017, Drexel and the developer <a href="https://www.brandywinerealty.com">Brandywine Realty Trust</a> broke ground on the Schuylkill Yards project, a $3.5 billion, 14-acre development that will include commercial laboratories as well as residential, retail, office, academic, and green space.</p> <p>Also underway in uCity Square is the construction by <a href="https://wexfordscitech.com">Wexford Science + Technology</a> of a new academic tower that will house <a href="https://drexel.edu/cnhp/">Drexel’s College of Nursing and Health Professions</a>&nbsp;as well as some divisions of the <a href="https://drexel.edu/medicine/">College of Medicine</a>. Local workforce and contracting opportunities are included in all of these initiatives.</p> </div> </div> </div> </div><div class="container "> <section class="promo-grid "> <h2 class="promo-grid__title">News</h2> <div class="layout-columns promo-grid__promos layout-columns--3-up"> <div class="media-promo js-clickable-card "> <div class="media-promo__image-wrapper"> <picture class="media-promo__image"> <source srcset="/~/media/Drexel/Core-Site-Group/News/Images/v2/story-images/2024/December/Urban-Garden-L/urban-garden-l_16x9.jpeg 1x, 2x" media="(min-width: 860px)" /> <source srcset="/~/media/Drexel/Core-Site-Group/News/Images/v2/story-images/2024/December/Urban-Garden-L/urban-garden-l_16x9.jpeg 1x, 2x" media="(min-width: 481px)" /> <source srcset="/~/media/Drexel/Core-Site-Group/News/Images/v2/story-images/2024/December/Urban-Garden-L/urban-garden-l_16x9.jpeg 1x, 2x" media="(min-width: 200px)" /> <img alt="Urban Garden " src="/~/media/Drexel/Core-Site-Group/News/Images/v2/story-images/2024/December/Urban-Garden-L/urban-garden-l_16x9.jpeg" /> </picture> </div> <div class="media-promo__body"> <div class="media-promo__title"> <a href="http://drexel.edu/news/archive/2024/December/framework-for-community-driven-evironmental-justice" class="js-clickable-card__link">A Framework for Community-Driven Environmental Justice Guided by the Community&nbsp;</a> </div> </div> </div> <div class="media-promo js-clickable-card "> <div class="media-promo__image-wrapper"> <picture class="media-promo__image"> <source srcset="/~/media/Drexel/Core-Site-Group/News/Images/v2/story-images/2024/November/Myers/IMG_4408/img_4408_16x9.JPG 1x, 2x" media="(min-width: 860px)" /> <source srcset="/~/media/Drexel/Core-Site-Group/News/Images/v2/story-images/2024/November/Myers/IMG_4408/img_4408_16x9.JPG 1x, 2x" media="(min-width: 481px)" /> <source 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class="mini-promos__image"> <img src="/~/media/Drexel/Core-Site-Group/News/Images/v2/story-images/2024/June/FRY_64_1600x900_Preferred88/fry_64_1600x900_preferred88_16x9.jpg?w=130&amp;hash=49A6ED7AF885A6A7F2EF25A500799F5A" alt="Drexel President John Fry" /> </div> <div class="mini-promos__title"> <a href="http://drexel.edu/news/archive/2024/September/president-john-fry-drexel-legacy">14 Years, Immeasurable Contributions: President John Fry’s Legacy at Drexel University</a> </div> </div> <div class="mini-promos__promo js-clickable-card"> <div class="mini-promos__image"> <img src="/~/media/Drexel/Core-Site-Group/News/Images/v2/story-images/2024/September/IMG_0196/img_0196_16x9.JPG?w=130&amp;hash=4BD0CCC0E8F31C2E5B1B799C49074F89" alt="Mid block crossing on Chestnut St" /> </div> <div class="mini-promos__title"> <a href="http://drexel.edu/news/archive/2024/September/construction-updates-sept-24">Campus Construction &amp; Renewal Update &mdash; September 2024</a> </div> </div> </div></div> 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