PHILADELPHIA, PA - If you're looking to start a company or business of any description in America, Philadelphia is one city that might catch your eye. According to The Chamber of Commerce for Greater Philadelphia, Philadelphia has climbed 12 places in the ranking for global startup ecosystems. Both Philadelphia and the wider region, Greater Philadelphia, have become world-class for startups, innovation, and economic growth. Between July 2022 and December 2024, Philadelphia's startup ecosystem generated $76 billion in ecosystem value.
Philadelphia's leadership in life sciences, advanced manufacturing, and tech, especially in artificial intelligence (AI), has been a major driver of this growth and its reputation as a powerhouse for startup foundations. Below is a look at Philly's fastest-growing industries, the reasons behind their development, and what the future could hold for them.
Healthcare
The healthcare sector is the largest employer in Philadelphia and presents numerous opportunities for continued growth. This is partly due to the development of subindustries, such as the care sector, driven by an ageing population and their care needs.
Although growth in middle-skill jobs has increased, it has mainly occurred in lower-skilled, lower-paying jobs. Philadelphia boasts a strong healthcare training infrastructure, built around career paths, but further investment in infrastructure to support worker transitions into middle-skill jobs is essential. Demographics are more likely to drive the sector's growth than economic cycles.
Gambling
The gambling industry in Philadelphia and across Pennsylvania is experiencing rapid growth. Pennsylvania's Gaming Control Board (PGCB) reported a 15.4% year-over-year increase in gaming revenue in June 2025. This includes slots, table games, fantasy gaming, video gaming terminals, internet gaming, and sports betting.
Later in October 2025, it was reported that Pennsylvania had topped even Nevada and New Jersey in gambling revenues, two states renowned for their liberal attitude toward gambling. The financial volume and rapid growth of igaming have been considered drivers of this growth in revenues, evidenced by the increase in igaming revenues compared to brick-and-mortar gaming establishment revenues.
The general growth of gaming suggests people have become more interested in PA online casinos, and resources like Casino.org are capitalizing on that by providing their readers with details on how to find out about them. The surge in popularity of online casinos and other iGaming has led experts to believe Pennsylvania will put in place regulations around cybersecurity, enabling online casinos to tighten up this aspect of their operations. Given that competition from other states is intensifying as they legalize certain forms of igaming, Philly operators may market their services more aggressively.
Manufacturing
Manufacturing is a significant growth driver in Philadelphia's economy, and as economic pressures and technological advancements transform the industry, it has undergone substantial changes. A push for more sustainable manufacturing has been a significant driver of change in how companies operate in Philadelphia and presents future growth opportunities.
There's also the implementation of 4.0 digital technologies, including automation, the Internet of Things (IoT, robotics, and AI-driven predictive maintenance. These innovations are helping operators boost efficiency, minimize downtime, and operate at their maximum capacity. AI-driven predictive maintenance is enabling them to improve asset performance and reliability.
The future for Philadelphia's manufacturing sector looks bright, and authorities will work hard to improve its promising outlook. Innovative electronics and advanced materials all provide growth opportunities. As technology continues to advance, there's sure to be investment in infrastructure to further consolidate Philadelphia's strong position.
Biotechnology
The Philadelphia real estate market is crowded, but it's making plenty of room for biotech. The city is one of the best for life sciences in America, thanks to tech, medical, and educational institutions working together in a highly collaborative environment.
Breakthroughs in cell and gene therapy, gene editing, and connected health have caught investors' attention and prompted them to clamor for support of industries in Philadelphia's life science sector. Universities have been expanding their life science research capabilities, and business and technology incubators are emerging to encourage entrepreneurial activity and bring research discoveries to market. This includes training, mentoring, and networking for entrepreneurs and speeds up healthcare innovations in their early stages.
Despite the life science breakthroughs achieved in Philadelphia and the billions invested there, its industries face challenging economic times. The future still looks bright, nevertheless, and there will likely be expansion of manufacturing capabilities for gene and cell therapy products, greater venture capital support for biotech startups, and advances in AI-driven drug discovery (which could step up research timelines).
Philadelphia has become a real destination to consider when it comes to starting a business, especially if you're looking to set up a company in the life sciences, tech, or manufacturing sector. Each offers sublime opportunities for growth and collaboration, helping strengthen the Philadelphia economy further and consolidate its position in the fields it leads.
