Editing Ed Rendell (section)

== Fiscal Turnaround ==

Rendell's first priority was fiscal stabilization. Working with union leaders, business executives, and state officials, he negotiated labor agreements that reduced costs while preserving services. He privatized some city functions, contracted out others, and eliminated positions through attrition. He raised taxes but also cut spending, achieving balanced budgets through a combination of revenue increases and expenditure reductions. The financial restructuring was painful—city employees accepted wage freezes and benefit reductions—but it worked. Philadelphia's bond rating improved, borrowing costs declined, and the immediate threat of fiscal collapse receded.<ref name="bissinger"/>

Beyond stabilization, Rendell pursued economic development with entrepreneurial energy unusual in municipal government. He personally recruited businesses, promoted Philadelphia to convention planners and tourists, and threw himself into any opportunity that might benefit the city. His involvement in details—from ribbon-cuttings to sports team negotiations—created the impression of a mayor deeply invested in Philadelphia's success. Critics saw self-promotion; supporters saw genuine commitment. The approach worked: investment flowed to Center City, hotels and entertainment venues opened, and Philadelphia's image improved from declining industrial city to reviving urban center.<ref name="paolantonio">{{cite book |last=Paolantonio |first=S.A. |title=Frank Rizzo: The Last Big Man in Big City America |year=1993 |publisher=Camino Books |location=Philadelphia}}</ref>