Reading Terminal Market has $146M annual impact, study finds – NBC10 Philadelphia

Reading Terminal Market is an “economic engine” for Philadelphia and Pennsylvania, generating an estimated $146 million in statewide economic impact each year, a new study found.

On Tuesday, Sept. 15, Reading Terminal Market CEO and General Manager Annie Allman and other officials presented the findings of the market’s first economic and community impact study, titled “Feeding the City, Fueling the Economy.” The report’s highlights include $146 million in annual statewide economic impact, 740 jobs supported, $2.7 million in aggregated tax revenue for Pennsylvania and nearly 6 million annual visits.

“The Market is both a beloved civic institution, and a powerful and vital economic engine for Philadelphia and Pennsylvania,” Allman wrote in the study.

Economic and fiscal impact

According to the report, Reading Terminal Market has a $126 million annual impact for Philadelphia and supports 650 jobs annually in the city. Statewide, the Market has a nearly $146 million impact and supports more than 730 jobs.

The findings also estimate $1.5 million in aggregated tax revenue for the city and $2.7 million statewide.

Tourism impact

It is no secret that Reading Terminal Market is a must-see destination for tourists who visit Philadelphia, and the report’s findings back that up.

The report states that 5.9 million people visit the Market each year, calling it the “most visited destination in Greater Philadelphia.”

According to the report, Reading Terminal Market draws a nearly even mix of local and regional visitors (48%) and overnight tourists (52%). Moreover, the study found that in 2025, the 5.94 million visitors spent an estimated $1.2 billion during their Philadelphia trips.

Community benefits

The study also highlights Reading Terminal Market’s community benefits, calling the destination more than a “marketplace.”

The report mentions the Market’s role as a pathway to food access for the community, with 18 merchants participating in SNAP and EBT food assistance programs.

“In periods of crisis and uncertainty, the Market is a reliable mainstay at the ready to serve the city and its residents,” the report reads.

Other highlights include the fact that the majority of the small businesses that make up the merchant base are owned or co-owned by women and the Market’s “synergistic relationship” with the Pennsylvania Convention Center.

According to the report, the relationship between Reading Terminal Market and the Pennsylvania Convention Center generates powerful impacts for the city.

“As a key selling point for attracting conventions to Philadelphia, Reading Terminal Market gains customers from among conference attendees,” the report states.

Read the full report below