Presentation about Philadelphia Industrial Development Corporation by president John Grady.

1. Open Access PHL
PHILADELPHIA’S
ECONOMIC DEVELOPMENT CORPORATION SINCE 1958

2. PIDC MISSION
PIDC attracts and manages real estate and
financing resources, investing them in
transactions that generate investment, jobs,
business growth and development throughout
all of Philadelphia’s neighborhoods

3. PIDC MISSION – Six Word Version
Invest in Philadelphia businesses and
development

4. PIDC OVERVIEW
• Philadelphia’s economic development corporation since 1958
• Non-profit, joint venture between the City of Philadelphia and the Greater
Philadelphia Chamber of Commerce
• Certified as a Community Development Financial Institution (“CDFI”)
Over the past 55 years, PIDC has invested more than $11.4 billion in
Philadelphia supporting over $21 billion in total project costs.
Currently, managing a diverse loan portfolio of over $600 million, we bring
years of experience and a wealth of knowledge to creating opportunity in
underserved communities and helping grow small business.

5. PIDC RESOURCES AT WORK
Over the last 3 years, PIDC has
settled more than 500
transactions, investing $1.6B of
public and private capital that
leveraged nearly $3B in total
investment and impacted more
than 10,000 jobs.

6. REAL ESTATE OVERVIEW
PIDC’s real estate activities include:
• Navy Yard:
• 1,200-acre mixed-use property
• 6.5 million SF of occupied space
• 143 companies and 11,000 employees
• Industrial Land Management & Planning:
• Acquired, improved, and sold more than 3,000 acres
of land in 18 industrial parks
• Manage 230 acres of available land in 9 industrial
parks
• Finalized a master plan to transform the 4,100 acre
Lower Schuylkill River District
• Public – Private Development:
• Manages the redevelopment of key parcels and
buildings owned by the City

7. FINANCIAL SERVICES OVERVIEW
SMALL BUSINESS
LENDING
• Term Loans
• Working Capital
• Credit Enhancement
TAX EXEMPT
FINANCING
• Bonds
• Leasing
• Municipal
projects
PIDC offers a broad range of financing products designed to encourage
economic growth in Philadelphia.
PROJECT FINANCE
• Low-cost 1st & 2nd
Mortgage Financing
• Energy Efficiency Loans
• Tax Advantage Financing
GRANTS
• Federal & State Grants
• City Grants:
o Cultural & Commercial
Corridors
o InStore Program
o Stormwater Management

8. EXPANDING SMALL BUSINESS AND
COMMUNITY INVESTMENT
New Markets Tax Credits
• $110 million allocated to low-income communities since 2009
• Community investment projects around the city in severley distressed
census tracts
Goldman Sachs 10,000 Small Businesses
• $10 million Goldman Sachs investment in PIDC
• Small business loans for profitable business that have been in
business at least two years
• Working capital, machinery, equipment and expansion capital
• Education program
• Not based on job creation, low-moderate income jobs or census tracts
In 2012, PIDC was certified as a CDFI. This allows us to access new
resources and continue to invest in small business and community lending.

9. PIDC makes strategic investments in
Philadelphia's neighborhoods
PIDC invests in neighborhood projects throughout the city
including: shopping centers, community health centers, university
partnerships, and commercial corridors.
I N T H E L A S T F I V E Y E A R S

10. Philadelphia is a growing hub for
Entrepreneurship and Startups
• Changes to Philadelphia’s business tax structure are
designed to attract &retain entrepreneurs.
• PIDC has made 184 small business loans totaling $90
million over the last 3 years.
• StartUp PHL
• $6M Seed Fund - $3M PIDC & $3M First Round Capital
• $500K investment in Science Center QED Program
• $750K investment in DreamIT Ventures
75 tech companies on the N3RD Street corridor alone.
50+ entrepreneurial support organizations across the city
including incubators, multi-tenant, and co-working spaces.

11. WHAT’S NEXT FOR ENTREPRENEURSHIP
AND DEVELOPMENT?
• Macro Level: Continue to diversify economy and improve quality of life
• New resources for small business lending
– More CDFI Investors and products to support growth
– Technical Assistance
• Expand Community Investments
– Which neighborhoods, what services
– Partners
• Define outcomes with data:
– Jobs
– Tax revenues
– Property values
– Community goods: school seats, patients served, food access, health statistics, revenue growth
• Build StartUp Success
– Leverage Comcast’s HQ
– Grow ecosystem with more successes

12. Facebook.com/ PIDCphila @PIDCphila● ● W WW.PIDC-PA.ORG