Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive 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.
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:
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.
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.
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).
Over the past 58 years, PIDC and its affiliates have settled 6,700 transactions, including $14 billion in financing that has leveraged over $25 billion in total investment and assisted in creating and retaining hundreds of thousands of jobs. Its direct loan and managed third-party portfolio at the start of 2016 exceeded $642 million, representing 520 loans.
A thirty-member Board of Directors, appointed by the Mayor of Philadelphia and the President of the Greater Philadelphia Chamber of Commerce, governs PIDC. The Staff includes 65 full-time employees and the annual budget is funded largely from service fees generated by PIDC's business activities.
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.