Fueling Philadelphia’s Future: PIDC’s 2024 Annual Review

by PIDC
June 17, 2025

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We’re proud to share PIDC’s 2024 Annual Review, reflecting on a year of progress, innovation, and investment across Philadelphia. Throughout the year, PIDC remained focused on fueling the city’s growth — supporting small businesses, advancing real estate development, expanding access to capital, and strengthening communities.

In 2024, PIDC closed 297 transactions, providing financing to 262 organizations, supporting 2,700 jobs, and catalyzing more than $1.4 billion in total investment. These efforts helped businesses grow, create jobs, and transform neighborhoods across the city.

2024 IMPACT BY THE NUMBERS

297

Financing Transactions*

59%

of Investments in High Poverty Neighborhoods**

100%

of Philadelphia City Council Districts Received Investment

150+

Internal & External Events Hosted at the Navy Yard

752K

SQ FT of Commercial & Industrial Lease Renewals & Expansions for the Navy Yard

2,700

Jobs Created and/or Retained

*including loans, New Markets Tax Credits (NMTC), grants, and tax-exempt bonds.

**High poverty neighborhoods have higher than 20% poverty rates. Population census tracts with zero residents were excluded for this analysis.

2024 INVESTMENTS IN PHILADELPHIA

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* PIDC serves strictly as a financial conduit to process and administer these complex financial transactions.

2024 INVESTMENTS BY ZIPCODE

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PIDC continued to serve as a cornerstone of Philadelphia’s business ecosystem by providing critical financing solutions and business support services to small businesses, nonprofits, and developers of all sizes. In 2024, we originated 69 loans to Philadelphia organizations, empowering them to expand operations, create jobs, and drive innovation across various sectors.

CORE LENDING OVERVIEW

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$56.6M

Leveraged Towards Total Project Costs

100%

To Local Small Businesses, Developers, & Nonprofits

80%

Invested in Extreme Poverty Communities*

85%

Funds Supported Minority-Owned Businesses

$17.6M

Funds Supported Woman-Owned

*Defining extreme poverty as greater than 30%.

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In 2024, PIDC remained a key driver of real estate projects that have redefined Philadelphia’s skyline and set the stage for long-term growth. By leveraging our expertise in public-private partnerships and creative financing solutions, we supported several transformative developments, including mixed-use properties, commercial hubs, and industrial spaces.

New buildings, new businesses, and new high-quality jobs were delivered by PIDC and our development partners at Ensemble / Mosaic at the Navy Yard, as we continue to deliver on the ambitious goals of the 2022 Navy Yard Plan. The plan builds on the Yard’s successful transition into one of the city’s strongest economic hubs with 150 businesses and over 16,500 employees, setting forth an achievable vision for doubling employment over the next 20 years, delivering $6 billion of new investment and development to the city, and creating Philadelphia’s newest waterfront neighborhood with mixed-income residential opportunities and high-quality public spaces. Learn more about the Navy Yard’s ongoing transformation at NavyYard.org.

Commercial & Industrial Portfolio

3

Land Sale Transactions

24.1

Acres of Land Sold

Philadelphia Navy Yard

96%

of PIDC's Leasable Assets Are Occupied

16K+

Employees

$31M

Utility Expansion to Support Existing & Future Development

29

Leases Signed

122K

Sq Ft Newly Leased Commercial Space

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PIDC’s Client Engagement team provided business education resources to support the growth of PIDC clients while strengthening their financial condition and offering support and resources to local business owners, helping to enhance company infrastructure, improve contract and project oversight, document growth, and position businesses for future traditional bank financing.

We also played a pivotal role in advancing citywide initiatives that drive business growth, job creation, and economic competitiveness. As a trusted partner to the City and business community, PIDC supported Mayor Cherelle L. Parker’s Business Roundtables, bringing together civic and industry leaders to shape policies that foster a stronger business environment.

234K

Visits to Our Websites

99

Blog Posts Highlighting Clients, Resources, & More

29

Total Workshops Hosted

16

Workshops En Español

1,000

Entrepreneurs Supported

Looking Forward

Our work would not be possible without the dedication of our partners, board members, stakeholders, and the broader business community. We are excited to continue our collaboration with the City of Philadelphia, Chamber of Commerce for Greater Philadelphia, and our many public and private partners to ensure that economic opportunities reach every corner of Philadelphia. Your trust and collaboration fuel our work and inspire us to develop innovative solutions that foster a thriving economy for all. 

As we enter 2025 and celebrate major milestones, including the 25th anniversary of the Navy Yard’s transformation, we look ahead with a continued commitment to building a stronger, more vibrant Philadelphia through collaboration and strategic investment.

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