PIDC Philadelphia

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PIDC Philadelphia gives the following descriptive information:

We are Philadelphia’s public-private economic development corporation.

PIDC is a non-profit partnership between the City of Philadelphia and the Greater Philadelphia Chamber of Commerce, founded in 1958.

Mission and Values: Our mission is to spur investment, support business growth, and foster development that creates jobs, revitalizes neighborhoods, and drives growth to every corner of Philadelphia. To achieve our mission we attract, manage, and invest public and private resources in the clients, communities, and markets that energize Philadelphia’s economy.

How We Do It: We offer flexible financing tools, a targeted portfolio of industrial and commercial real estate, and decades of Philadelphia-based knowledge to help our clients invest, develop, and grow. We also structure and invest in public-private partnerships for key City policy areas and development priorities.

PIDC manages a family of organizations to accomplish our mission:

  • Philadelphia Authority for Industrial Development (PAID)
    A public authority organized to undertake three main activities in support of PIDC’s mission. PAID is a vehicle through which PIDC manages industrial and commercial real estate; issues taxable and tax-exempt bonds on behalf of non-profits and manufacturers; and delivers governmental grant funding for economic development projects throughout the city.
  • PIDC Community Capital
    A 501(c)(3) non-profit and certified community development financial institution (CDFI) which supports PIDC’s mission of community investment and delivers additional resources with a particular focus on small business lending and technical assistance in underserved, low-income communities.
  • PIDC Regional Center
    The PIDC Regional Center is a partnership between PIDC and CanAm Enterprises, LLC to sponsor investment opportunities in projects that qualify for the U.S. Immigration Investor Program (EB-5 Program).

Bringing Economic Growth to Philadelphia: Over the past 56 years, PIDC and its affiliates have settled 6,300 transactions, including $11.8 billion in financing that has leveraged over $21.7 billion in total investment and assisted in creating and retaining hundreds of thousands of jobs. Its direct loan and managed third-party portfolio at year-end 2013 exceeded $625 million, representing almost 550 loans.

PIDC works with companies of all sizes in every area of Philadelphia. We work on projects big and small with businesses, developers, and non-profits in every sector.