Philly controller: Local spending is key to creating 4,000 jobs

Philadelphia’s city controller is releasing more details on his plan to bring jobs to the city. 

If Philadelphia’s more than 30 colleges, universities and hospitals would buy 25 percent more products and services from city companies, City Controller Alan Butkovitz said it could generate more than $642 million  a year in local spending and $14 million in tax revenues.

“I am not advocating for a government mandate,” he said Thursday. “The local government’s role would be to coordinate and build relationships to assist with financing enterprises and to create incentives for firms to locate here to meet the local demand.”

Butkovitz said he’s already received some interest in his plan.

“Drexel and Penn are the ones that we are allowed to mention,” he said. “We’ve also spoken to other anchors who are interested in participating but they have not yet authorized the release of their identity.”

The controller released a report saying the plan could create more than 4,000 new jobs in Philadelphia and increase manufacturing spending by nearly $300 million.