The eighth annual Penn Local Business Exchange convened local suppliers, officials, and University buyers to showcase Penn’s contributions to initiatives supporting the growth of local businesses.
Held on Oct. 8 at the Annenberg Center for the Performing Arts, the exchange consisted of an open forum and an expo. The forum featured comments from Penn leadership and Philadelphia officials on construction, workforce development, and strategies for the growth of local businesses, while the following expo highlighted 51 local suppliers across a variety of fields.
The event featured Provost John L. Jackson Jr. and Executive Vice President Mark Dingfield as keynote speakers and was a component of the City of Philadelphia’s 41st annual Micro Economic Development Week, which took place from Oct. 6 to Oct. 10. This year's theme was “In Pursuit of Bold Solutions for Today’s Challenges.”
According to the City of Philadelphia website, MED Week is designed to honor “the exceptional achievements of Philadelphia small, local, and underrepresented business enterprises."
“When Philadelphia thrives and succeeds, Penn does too,” Jackson said at the event. “In practical terms, that means when the University works with local businesses, we’re doing more than buying a product or a service: We’re investing in a system that creates jobs, that supports families, that promotes investments and entrepreneurship, and that genuinely grows the local economy.”
During the forum, the 2025 Penn Local Economic Impact Award was presented to S. Shani Saunders and Brighid Dwyer, representatives of the College’s Office of Academic Excellence and Engagement. The awardees represent University individuals who are “driving intentional impact in the area of local procurement at Penn.”
The program is also a part of Penn’s Local Economic Opportunity Program, an initiative carried out by Penn’s Office of the Executive Vice President, intended to provide “opportunities for local individuals and businesses to participate in the economic activity of Philadelphia's largest private employer.”
For the fiscal year 2024, it is estimated that Penn helped drive $37 billion through the economies of Philadelphia, the Commonwealth of Pennsylvania, and 14 surrounding counties in Pennsylvania, New Jersey, Delaware, and Maryland.
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“We’re not just focused on how much we’re spending, but how we’re spending, to ensure that purchasing, partnerships, [and] contracts are creating lasting value for our communities,” Dingfield said at the event. “We recognize that every one of these contracts is an opportunity to create jobs, to build wealth, and to open the next generation of entrepreneurs here in Philadelphia.”
