Mid-size and large Philadelphia businesses have become significantly more financially stable since pandemic-driven shutdowns began last year, according to a new report.
- But small businesses have only seen marginal improvements.
Driving the news: Pew Charitable Trusts on Wednesday released its snapshot of how businesses are faring since March 2020.
- The research suggests health care and social assistance businesses — the city's largest job sector — saw top gains in average financial stability, while hospitality businesses, like restaurants and hotels, showed higher risks of failing over the next year.
- Meanwhile, women-led and women-owned businesses had lower financial stability scores on average compared to those led and owned by men, the report found.
Kurt Evans already has an impressive list of titles: chef, restaurateur, activist and educator.
- Now, he's turning his focus to creating a pipeline of new culinary experts among formerly incarcerated people in Philadelphia.
Why it matters: Roughly 27% of formerly incarcerated people living in the U.S. are unemployed, according to the latest figures from the Prison Policy Institute. That rate has likely become worse since the pandemic.
- Black people are vastly overrepresented in U.S. prisons.
A container village is coming to a vacant lot in West Philly.
What's happening: The city is in the early stages of planning a farmers market-style mall of shipping containers at the corner of N 49th Street and Parkside Avenue, city officials told Mike on Monday.
Why it matters: The neighborhood has suffered from disinvestment, poverty and a lack of available retail space for small businesses.
Cofounders Tayyib Smith and Meegan Denenberg gave the public a first look Saturday at their Kensington co-working space, the IF Lab, which is designed to provide resources for people of color pursuing entrepreneurship.
- When looking only at businesses that have employees, that figure plummets to about 6.3%.
The storm-damaged Manayunk Canal Towpath will reopen in the coming weeks.
Driving the news: Mayor Jim Kenney's administration is finishing up $300,000-$350,000 in repairs to the 2-mile stretch of the Schuylkill River Trail, Maita Soukup, a spokesperson for the city's Parks & Recreation Department, tells Axios.
Why it matters: The towpath's closure following Hurricane Ida last month has hurt Manayunk businesses that rely on its daily foot traffic, Gwen McCauley, executive director of the Manayunk Development Corporation, said.
- "It's essential. It is not an amenity," she said.
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