NMTC
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)
Read MoreTeam Members
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
Read MoreClient Stories
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.
Read More
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
Read MorePress Release
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)
Read More
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
Read MoreIndustrial Market & Land Use Strategy
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
Read MoreScholarship
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
Read More
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
Read MoreBlack-Owned
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
Read MoreBlack-Owned
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
Read More
August 23, 2022
The Rebuild Collaborative: Transforming Access to Opportunity in Philadelphia
The Rebuild Collaborative (the Collaborative) was developed through an intentional commitment from JPMorgan Chase to advance racial equity, address key drivers of the racial wealth divide, and provide economic opportunity to underserved communities. Despite the residual economic slowdown caused by the pandemic, the Collaborative, in its first year, has made progress by creating pathways to
Read MorePartner News
July 27, 2022
Latest Updates From African-American Chamber of Commerce of PA, NJ, and DE
PIDC partner, African-American Chamber of Commerce of PA, NJ, and DE (AACC) is bringing together mayors from all around the country to discuss the growth and development of Black-owned businesses in its 2nd Annual National Convening of Black Mayors in August. Plus, AACC recently appointed new board leadership. Get the details in this month’s partner
Read MoreTeam Members
July 26, 2022
Get to Know PIDC’s Summer 2022 Interns
This summer, a few talented interns joined PIDC virtually to learn and assist us in driving growth to every corner of Philadelphia. Get to know our interns and the PIDC departments they assist. Plus, see why they think Philadelphia is a great place to study, work, and play. Tamani Simmons Tucson, Arizona EDUCATION:University of Pennsylvania
Read MoreSHOP PHL
July 26, 2022
SHOP PHL: Summer 2022 Edition
Summer is here, most businesses are operating at full capacity, museums and attractions are open, and people are returning to workplaces. We encourage you to relax and recharge this summer by supporting local businesses and organizations. To start, check out this curated list of some of our PIDC clients. Images courtesy of Tubby Robot Ice
Read MoreTeam Members
July 25, 2022
Meet PIDC’s New 2022 Team Members
PIDC continues to grow, drawing from Philadelphia’s top talent. We hired a great 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! Kassandra Colon HOMETOWN: North Philadelphia DEPARTMENT: Portfolio Management TITLE: Loan Portfolio Monitor What role will you play
Read MoreTeam Members
June 29, 2022
PIDC Celebrates Employee Milestones
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
Read MoreReal Estate Initiatives
June 28, 2022
Roundup of Updates in the Life Sciences Sector
Ranked among the top 10 life sciences markets in the U.S., the Philadelphia region is home to world-class research institutions, inventors of breakthrough medical treatments and technology, and 15 major health systems, according to the Select Greater Philadelphia Council. Plus, with nearly 70,000 employed in the life sciences industry and more than 40 cell and
Read More