Jay-Z stages music festival in Philadelphia

(CBS/AP) Jay-Z is showing Philadelphia some love.

The rapper has announced a two-day music festival in Philly this year, featuring nearly 30 acts "that embody the American spirit" across three stages. The event will be held at Fairmount Park on Sept 1. and Sept. 2, which is Labor Day weekend.

While announcing the news, Jay-Z was joined by Mayor Michael Nutter on Monday atop the city's art museum steps, made famous by the movie "Rocky." The "Budweiser Made in America" festival will benefit United Way Greater Philadelphia and Southern New Jersey. Tickets go on sale May 23 and will include rap, rock, R&B, Latin and dance performers. Ticket and festival information is available here.

The New York-born rapper says 70 percent of the acts are confirmed. A feverish crowd of fans was on hand, chanting his name. When one yelled out that Jay-Z's was the best, the rapper paused and said: "I agree."