Two months after both Mayor Jim Kenney and Forbes expressed interest in bringing the Forbes Under 30 Summit back to Philadelphia, the popular event is moving to Boston.
Billy Penn reported that Kenney's spokeswoman Lauren Hitt said Forbes would not provide economic impact statistics to the city, so the decision to let Forbes walk "was in the best interest of the taxpayer."
The Forbes Under 30 Summit has been held at the Pennsylvania Convention Center for the last two years, drawing some of the world's top millennial entrepreneurs and business creators. Many celebrities have also spoken at the multi-day event, including Malala, Monica Lewinsky and Barbara Pierce Bush. Also, Forbes signed on many prominent music artists to throw free concerts.
Its domestic move to Boston suggests that it's trying to pull from a deeper pool of entrepreneurs and investors. Boston has significantly more start-ups valued at more than $4 million than does Philadelphia.