2022 in Review: Top local business stories

philly tribune article

PHILADELPHIA TRIBUNE - "This year saw businesses in Philadelphia begin to rebound from losses taken during the worst of the pandemic, allowing for major strides in minority representation and equity in a variety of sectors. Major projects in historic neighborhoods saw infusions of state funding and leadership in the city began to change hands. Here are the top 10 local business stories of 2022.


Enterprise Center gets $1 million for 52nd St. corridor

U.S. Rep. Dwight Evans secured $1 million in funding for The Enterprise Center’s 52nd Street Initiative that will develop a mixed-use, entrepreneurial hub for food, retail and service business development.

The funds will be used toward the construction of the new 277 Community & Business Resource Center. As part of the initiative, all the construction is being done by minority contractors.

In addition, Della Clark, president of The Enterprise Center, began seeking to raise $50 million for the Innovate Capital Growth Fund to address the capital gap faced by numerous minority and women owned businesses in the mid-Atlantic region.

With the launch of the fund, TEC became the first Minority Business Development Agency Business Center in the country to have both a Community Development Financial Institution (CDFI) and a Small Business Investment Company (SBIC) under one roof."

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