PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION
1500 Market St ste 3500W, Philadelphia, PA 19102 www.pidcphila.com

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Organizations Filed Purposes: MISSION STATEMENT PIDC HAS BEEN PHILADELPHIA'S PUBLIC-PRIVATE ECONOMIC DEVELOPMENT CORPORATION SINCE 1958. AS A PUBLIC-PRIVATE PARTNERSHIP FOUNDED BY THE CITY OF PHILADELPHIA AND THE GREATER PHILADELPHIA CHAMBER OF COMMERCE, PIDC'S 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 THIS MISSION, PIDC ATTRACTS, MANAGES, AND INVESTS PUBLIC AND PRIVATE RESOURCES IN THE CLIENTS, COMMUNITIES, AND MARKETS THAT ENERGIZE PHILADELPHIA'S ECONOMY.

PIDC PLANS AND IMPLEMENTS ECONOMIC DEVELO PMENT INITIATIVES WHICH ENHANCE THE COMPETITIVE ENVIRONMENT, GENERATE JOBS AND PRODUCE HIGHER TAX RATABLES THROUGHOUT PHILADELPHIA.

SUPPORTING GROWING BUSINESSES: PIDC PROVIDES SUPPORT TO ITS AFFILIATES (PIDC LOCAL DEVELOPMENT CORPORATION, PIDC COMMUNITY CAPITAL, PIDC FINANCING CORPORATION AND PIDC PENN VENTURE FUND) TO INVEST FLEXIBLE, AFFORDABLE CAPITAL IN GROWING COMPANIES TO HELP THEM SUCCEED. PIDC AND ITS AFFILIATES PROVIDE CAPITAL WHERE TRADITIONAL FINANCING IS DIFFICULT TO ACCESS OR NOT ABLE TO MEET AN OWNERS NEEDS. IN 2019, PIDC AND ITS AFFILIATES PROVIDED LOANS TOTALING NEARLY $11.3 MILLION OF CAPITAL TO SMALL AND MIDSIZED BUSINESSES IN PHILADELPHIA. IN ADDITION TO PROVIDING FINANCING, PIDC AND ITS AFFILIATES ALSO PROVIDE BUSINESS SUPPORT SERVICES, WHICH INCLUDES EDUCATIONAL WORKSHOPS, ONE-ON-ONE COUNSELING, AND NETWORKING EVENTS DESIGNED TO CONNECT BUSINESS OWNERS TO THE KNOWLEDGE AND NETWORKS THEY NEED TO SUPPORT GROWTH. DURING 2019, PIDC HELD 55 WORKSHOPS WITH MORE THAN 1,300 ATTENDEES. PIDC ALSO INVESTS IN HIGH-IMPACT COMMUNITY REVITALIZATION PROJECTS TO BRING CRITICAL GOODS AND SERVICES, CREATE JOBS, AND ELIMINATE BLIGHT THROUGHOUT THE CITY. IN 2019, PIDC INVESTED $48 MILLION THROUGH 16 LOANS IN CATALYTIC PROJECTS IN NEIGHBORHOODS THROUGHOUT PHILADELPHIA.

CONTRACT MANAGEMENT: PIDC PROVIDES SERVICES TO MANAGE FUNDING AND DISTRIBUTION OF GRANTS TO BE USED FOR PROJECTS THAT FACILITATE JOB CREATION AND ECONOMIC DEVELOPMENT WITHIN PHILADELPHIA.

PROPERTY MANAGEMENT: AT THE NAVY YARD, 2019 WAS A BIG YEAR FOR DEVELOPMENT, PLACEMAKING, AND INVESTMENT. IOVANCE THERAPEUTICS HELD A GROUNDBREAKING AT THE NAVY YARD FOR ITS 136,000 SF FACILITY TO SUPPORT US PRODUCTION TUMOR INFILTRATING LYMPHOCYTES CELL THERAPY PRODUCTS. TAPE PHILADELPHIA: ENTER THE COCOON, AN IMMERSIVE ART EXPERIENCE AT THE NAVY YARD MADE 21.5 MILES OF TRANSLUCENT TAPE- WELCOMED NEARLY 10,000 VISITORS. PIDC ISSUED AN RFQ SEEKING PARTNERS CAPABLE OF PLANNING, DELIVERING, AND MANAGING EXTRAORDINARY OFFICE, R&D, AND MIXED USE RESIDENTIAL DISTINCT DISTRICTS TOTALING APPROX. 109 ACRES. POWERED BY A 35-MEGAWATT UNREGULATED GRID HAD $20 MILLION OF INVESTMENTS IN ELECTRIC UTILITY AND IS ONE OF THE LARGEST UNREGULATED ELECTRICAL DISTRIBUTION SYSTEMS ON THE EAST COAST. ALONG THE LOWER SCHUYLKILL RIVER, PIDC, THE CITY OF PHILADELPHIA, AND PIDC'S PARTNERS CONTINUE TO MAKE EARLY INVESTMENTS TO TRANSFORM THE 3,700 ACRES. THE LAND AMASSED $145 MILLION TOTAL INVESTMENTS THUS FAR. IN 2019, 70 NEW COMPANIES JOINED THE AREA, CREATING 370 JOBS. IN 2019, PIDC COMPLETED THE SOUTHWEST CAPITAL ACCESS PLAN, OUTLINING THE KEY CHALLENGES AND PROVIDING TACTICAL WAYS PIDC AND PARTNER ORGANIZATIONS CAN IMPROVE CAPITAL ACCESS FOR SMALL BUSINESSES AND OTHER STAKEHOLDERS IN SOUTHWEST PHILADELPHIA. PIDC FINALIZED THE TERMS OF A LAND SWAP THAT WILL PROVIDE ITS BARTRAM'S SOUTH DEVELOPMENT SITE AND ALLOW THE BARTRAM'S MILE SEGMENT OF THE SCHUYLKILL RIVER TRAIL TO CONNECT TO 61ST STREET. WORKING WITH THE PHILADELPHIA DEPARTMENT OF COMMERCE, PIDC RELEASED A STUDY FOR LAB SPACE IN PHILADELPHIA. THE LOWER SCHUYLKILL IS ONE OF THE LOCATIONS IN PHILADELPHIA THAT HAS THE CHARACTERISTICS TO SUPPORT DEVELOPMENT OF NEW LAB SPACE.

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