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Philadelphia's economic sectors include manufacturing, oil refining, food processing, health care and biotechnology, tourism and financial services. According to a study prepared by PricewaterhouseCoopers, Philadelphia and its surrounding region had the fourth highest GDP among American cities, with a total GDP of $312 billion in 2005. Only New York City ($1,133 billion), Los Angeles ($693 billion), and Chicago ($460 billion) had higher total economic output levels among American cities.[45] Philadelphia ranked below Tokyo ($1,191 billion), Paris ($460 billion), London ($452 billion), Osaka-Kobe ($391 billion), Mexico City ($315 billion), and above Washington, D.C. ($299 billion) and Boston ($290 billion).
The city is home to the Philadelphia Stock Exchange and several Fortune 500 companies, including cable television and internet provider Comcast, insurance companies Colonial Penn, CIGNA and Lincoln Financial Group, energy company Sunoco, food services company Aramark and Crown Holdings Incorporated, chemical makers Rohm and Haas Company and FMC Corporation, pharmaceutical companies Wyeth and GlaxoSmithKline, Boeing Rotorcraft Systems, and automotive parts retailer Pep Boys. Early in the 20th Century, it was also home to the pioneering brass era automobile company Biddle.[46]
The federal government has several facilities in Philadelphia. The city served as the capital city of the United States, before the construction of Washington, D.C. Today, the East Coast operations of the United States Mint are based near the historic district, and the Federal Reserve Bank's Philadelphia division is based there as well. Philadelphia is also home to the U.S. District Court for the Eastern District of Pennsylvania and the U.S. Court of Appeals for the Third Circuit.
With the historic presence of the Pennsylvania Railroad, and the large ridership at 30th Street Station, Amtrak maintains a significant presence in the city. These jobs include customer service representatives and ticket processing and other behind-the-scenes personnel, in addition to the normal functions of the railroad.
Baltimore Avenue towards Center City.The city is a national center of law because of the University of Pennsylvania Law School, Drexel University Earle Mack School of Law, Temple University Beasley School of Law, Rutgers University School of Law - Camden, Villanova University School of Law, and Widener University School of Law. Additionally, the headquarters of the American Law Institute is located in the city.
Philadelphia is an important center for medicine, a distinction that it has held since the colonial period. The city is home to the first hospital in the British North American colonies, Pennsylvania Hospital, and the first medical school in what is now the United States, at the University of Pennsylvania (Penn). Penn, the city's largest private employer, also runs a large teaching hospital and extensive medical system. There are also major hospitals affiliated with Temple University School of Medicine, Drexel University College of Medicine, Thomas Jefferson University, and Philadelphia College of Osteopathic Medicine. Philadelphia also has three distinguished children's hospitals: Children's Hospital of Philadelphia, the nation's first pediatric hospital (located adjacent to the Hospital of the University of Pennsylvania), St. Christopher's Hospital, and the Shriners' Hospital. In the city's northern section are Albert Einstein Hospital, and in the northeast section, Fox Chase Cancer Center. Together, health care is the largest sector of employment in the city. Several medical professional associations are headquartered in Philadelphia.
With Philadelphia's importance as a medical research center, the region supports the pharmaceutical industry. GlaxoSmithKline, AstraZeneca, Wyeth, Merck, GE Healthcare, Johnson and Johnson and Siemens Medical Solutions are just some of the large pharmaceutical companies with operations in the region. The city is also home to the nation's first school of pharmacy, the Philadelphia College of Pharmacy, now called the University of the Sciences in Philadelphia.
See also: List of companies based in the Philadelphia area
Tourism is a major industry in Philadelphia, which was the 11th-most-visited city in the United States in 2008. It welcomed 710,000 visitors from foreign countries in 2008, up 29% from the previous year.
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