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AAI coordinates planning and research efforts to support new development and revitalization in the Avenue of the Arts District. Using Arts and Culture as a vehicle for economic development, AAI plays a vital role in overseeing this multi-million dollar project.
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There is close to $300 million worth of new and planned investment proposed for the Avenue of the Arts District. This timeline outlines the various development proposals, providing a description of the project, location and estimated timing details, including project groundbreaking, completion and openings.
The Development Timeline is current as of March, 2003. However, due to the complexities of the development process, AAI will update this timeline regularly as it receives new information on individual projects. Please keep in mind that you can contact AAI with any questions or comments regarding the timeline. It is AAI's goal to be a resource for project planning and development. We will be posting an updated timeline in the near future, so please check back.
AAI is committed to continuing its role as the leader and catalyst for growth of the Avenue of the Arts. In dedication to this pledge, AAI has four strategic priorities that will drive the organization's future programs, activities and capacity building efforts:
Vision
Create a shared vision for the future of the Avenue of the Arts that describes in words and images the Avenue as an ideal place to live, learn, work, shop and play.
Leadership
Develop a strong board of directors which is committed to and excited about AAI's mission.
Sustainability
Strengthen and diversify AAI's resources and funding base to ensure its future.
Marketing
Continue to promote the growth of businesses and arts and entertainment organizations on the Avenue and the physical development of the Avenue itself through institutional collaborations.
- Performing Arts organizations and venues on the Avenue generate a total of nearly $10 million a year in taxes for Pennsylvania, 70% greater than the tax impact in 2001.
- Estimated annual direct expenditures attributable to performing organizations on the Avenue amount to nearly $193 million in 2006, compared to $86.8 million in 2001.
- Arts patrons spend $84.2 million at venues and organizations, this includes food, lodging, transportation, etc.
- The total seating capacity for performing arts venues on the Avenue totals 14,368.
- Hotel room occupancy has risen to 73.1% in 2005 from 60% in 2001 (Center City District Development Corp.)
- The Avenue of the Arts is home to 51 restaurants (up from 40 restaurants in 2001), 59 cultural organizations, 8 hotels and 21 retail
The Philadelphia Empowerment Zone is a federally funded initiative established to foster economic development in distressed rural and urban communities. In 1994, Philadelphia was designated as an Empowerment Zone, which allows for the city to receive federal tax incentives to attract businesses. The vision of the Empowerment Zone is to create vibrant communities in three designated neighborhoods.
In January of 2002, the US Department of Housing and Urban Development designated Philadelphia as one of the 40 Renewal Communities nationwide. This federal program was developed to help stimulate and encourage investment in struggling communities. The program promotes economic growth by offering a set of tax incentives for existing businesses and new businesses that locate within this designated area. In Philadelphia, 43 census tracts across North, South and West Philadelphia benefit from this designation. There are portions of the Avenue of the Arts, both North and South, that fall into either an Empowerment Zone or Renewal Community designated area.
The Renewal Communities Program (RC) and Empowerment Zone (EZ) incentives are administered by the City of Philadelphia's Empowerment Zone/Renewal Communities Office.
For general information about the EZ/RC, please call: (215) 683-0450. For more information about the tax incentives and resources for businesses, or to request an application, please call: (215) 683-2025.
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