News
January 25, 2023
PIDC Celebrates Employee Milestones for Q4 of 2022
All of our employees are such a significant part of our team and we couldn’t imagine our workplace without them. Recently, a few of our employees reached their anniversary milestones and/or received a promotion. Please join us in congratulating them on their achievements. Our employees have all worked hard for their accomplishments and we truly
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December 22, 2022
2022 PIDC Highlights
It was another high-impact year for the PIDC team! We continued to focus on our strategic priorities, including our leadership role in Philadelphia’s inclusive and equitable economic recovery from the impacts of the COVID-19 pandemic. With a strong foundation and 64-year track record, last year, PIDC identified the need to build upon the organization’s recent
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December 22, 2022
Three Firms Shortlisted Biotech Campus
The Lower Schuylkill Biotech Campus is where Philadelphia’s ecosystem of discovery will grow into life altering outcomes for all and on June 14, 2022, PIDC issued an RFQ looking for the right partner for this unprecedented cell and gene therapy development opportunity. The developer selection process is designed to identify a partner to help us
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December 7, 2022
PIDC Announces Current Executive VP Sam Rhoads as Interim President
NEWS RELEASE FOR IMMEDIATE RELEASE CONTACTS: Jazmund Walker, PIDC Director, Marketing Communications 215.496.8199 25+ year PIDC senior executive Sam Rhoads to serve as interim president of PIDC and PIDC Community Capital until the appointment of a new permanent president in early 2023. PHILADELPHIA (December 7, 2022) – Today, PIDC announced that current Executive Vice
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November 17, 2022
Meet PIDC’s New Team Members – Fall 2022
PIDC continues to grow, drawing from Philadelphia’s top talent. We recently hired an excellent group of hardworking, talented, and experienced employees in various fields. It is our pleasure to introduce you to our new additions to the PIDC team! Luke Antonello Media, PA PIDC:Financial Services, Conduit Finance TITLE:Grants Administrator Q: What role will you play
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November 17, 2022
Shop PHL: 2022 Holiday Edition
Oh, the joy of the holiday season! If you’re looking for gifts and places to help you spread the holiday cheer, we have you covered! PIDC is proud to highlight a variety of our unique client businesses that offer gifts and services to help you check off your lists. As you enjoy this holiday season
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November 10, 2022
PIDC’S New Strategic Framework
The Theory of Change builds the basis for PIDC’s new strategic framework. The PIDC Strategic Framework is intended to serve as a roadmap for PIDC to achieve its mission and strive toward a more inclusive, equitable, and sustainable Philadelphia where all residents benefit from economic development and a growing global economy. The Framework provides PIDC
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October 28, 2022
PIDC ANNOUNCES A $45 MILLION ALLOCATION IN U.S. TREASURY NEW MARKETS TAX CREDITS
CONTACT: Jazmund Walker, PIDC Marketing Communications Manager 215.496.8199 The 8th award for PIDC Community Capital for a total of $418 million in New Markets Tax Credit allocations over 14 years PHILADELPHIA (October 28, 2022) – Today, PIDC announced its CDFI subsidiary, PIDC Community Capital, was awarded $45 million in New Markets Tax Credit (NMTC)
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October 27, 2022
Meet Our New Board Members & Officers
Recently, we added new members to our PAID and PIDC Boards of Directors. Jim Engler, Esq, chief of staff and executive director of the office of the president for ChristianaCare Health System has joined the board of PAID and Emily Bittenbender, owner of Bittenbender Construction, LP has joined the PIDC board. Meet our new members
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October 27, 2022
Torrado Construction
PIDC client Torrado Construction is a Hispanic-owned general construction firm specializing in commercial construction, renovations and rehabilitations, concrete, removal services, and painting services. Luis E. Torrado, who established the company in 1995, has devoted his time to working on projects that bring positive change to underserved communities.
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October 27, 2022
Lewis C. Cassidy Academics Plus School Hosts a Groundbreaking Ceremony
This month the Lewis C. Cassidy Academics Plus School hosted a groundbreaking ceremony at 6523 Lansdowne Ave. Superintendent Tony Watlington, representatives from Senator Vincent Hughes’ office, Rep. Morgan B. Cephas, Councilmember Curtis Jones Jr., and 10 students from the first graduating class of the new Lewis C. Cassidy Academic Plus School were among the honored
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September 29, 2022
PIDC Announces Korn Ferry Selected for PIDC President Executive Search
CONTACTS: Jazmund Walker, PIDC Marketing Communications Manager 215.496.8199 Charles S. Ingersoll, Jr., Korn Ferry Senior Client Partner Following a competitive RFP process, Korn Ferry was selected as PIDC’s executive search firm for its ability to garner a diverse pipeline of executive candidates to fill the role of PIDC president. PHILADELPHIA (September 16, 2022)
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September 26, 2022
PIDC Introduces New Theory of Change To Drive Growth to Every Corner of Philadelphia
PIDC continued to drive growth to every corner of Philadelphia—closing 2,035 transactions in 100% of the city’s zip codes in 2021. We delivered and supported $725.5M in financing and $29.5M in COVID-19 relief grants and loans. In addition, PIDC sold 40 acres of land city-wide for job-creating projects. With a strong foundation and 64-year track
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September 26, 2022
Update on the Philadelphia Industrial Market & Land Use Strategy Study & Report
PIDC is gathering a diverse group of individuals to provide feedback for the Philadelphia Industrial Market & Land Use Strategy Study & Report, which consists of comprehensive insight on the current conditions and anticipated future trends of Philadelphia’s industrial environment. PIDC, in partnership with the Philadelphia City Planning Commission and the Philadelphia Department of
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September 26, 2022
PIDC Announces Recipients of the 2022 PIDC-D’Alessio Scholarship for Urban Development
PIDC is proud to announce the fourth-round recipients of the PIDC-D’Alessio Scholarship for Urban Development. The scholarship was launched in 2019 to support graduate students at Philadelphia schools seeking to pursue a career in urban development and finance. The scholarship was created by PIDC in recognition of M. Walt D’Alessio’s decades of commitment and leadership
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September 22, 2022
PIDC Business Builder Workshops
Join us this fall to grow your business with PIDC Business Builder Workshops, which provide critical business education to businesses and organizations from every market sector. Presented by subject matter experts, these workshops are foundational in building skills, making connections, and providing components needed to reach strategic growth goals. Business Builder Workshops are also free
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August 25, 2022
CLIENT FEATURE: YOWIE
PIDC client YOWIE is a Black-, woman-, and millennial-owned home and life shop focused on curating small collections from founder Shannon Maldonado’s friends, independent artists, and designers. Founded in 2016 as an online business, YOWIE attracted a cult following for its eclectic items and workshops and events. Shannon relocated from New York City to open
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August 24, 2022
PIDC Clients You Need to Know – Millennial Business Owners
This month, we’re recognizing our incredible PIDC clients who are millennial business owners. Millennials have contributed greatly to the new and innovative landscape of the business model as we know it – from embracing digital media to getting creative with e-commerce. Millennials were a big driver of Philadelphia’s population growth prior to the pandemic. According
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