Radnor Township is a great place to live and work! Part of the town's charm lies in the myriad of "mom and pop" retail shops that line the major thoroughfares and that have operated in the township for generations. In addition, the Main Line's lure has attracted large and small service and retail businesses alike to its soils.
Indeed, the community has been or has become an appealing location for the offices, laboratories, and headquarters of national and international corporations, such as:
Countless other, primarily smaller, businesses
This newer corporate presence has reversed the age-old pattern of daily suburb-to-city commuting along the Main Line and has brought with it considerable traffic congestion. In fact, the number of people now working in Radnor exceeds the township's adult population.
Business & Commerce Regulation
Business and commerce in the Township is closely regulated. As a rule, all businesses operating in the township - retail and service - are required to pay an annual tax of $3 for every $1,000 in gross revenues earned (expressed as 3 mills), with the first $25,000 exempt.
In addition, all businesses must apply for an annual operating license, file a tax return with the Township each year, and deduct $10 from each employee who earns $1,000 of more in a calendar year. These taxes are collected in-house by township staff. Business taxes accounted for over $4.2 million in township revenues in 2004 (22% of total General Fund revenues).
Compliance with these regulations has been high - over 97 % of registered businesses in the township filed tax returns in 2004. Failure to follow the tax code can lead to audits, citations and fines, and the suspension of the license to conduct business here.