Driving Growth: PIDC Recaps This Season’s Economic Development Conferences

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At PIDC, we recognize that staying informed and connected is essential to driving meaningful impact in Philadelphia’s communities. That’s why our team members actively participate in conferences, events, and workshops focused on community, professional, and economic development. These opportunities allow us to learn from industry leaders, share best practices, and exchange ideas with peers from

PIDC Announces It Has Received A $55 Million Allocation In Federal New Markets Tax Credits

The 9th award for PIDC Community Capital for a total of $473 million in New Markets Tax Credit allocations over 16 years For Immediate Release: September 19, 2024 Contact: Kevin Lessard, PIDCSVP, Marketing Communications & Government Today, PIDC—Philadelphia’s public-private economic development corporation—announced its CDFI subsidiary, PIDC Community Capital, was awarded $55 million in New

Client Feature: H&Mcare Breaks Ground on $13M Project for Home Care Support Services

Last month, PIDC client H&Mcare – a Black- and immigrant-owned home care support services business – celebrated a groundbreaking at 71st and Woodland Streets in Southwest Philadelphia. The $13 million project will provide critical services for the community, including housing to more than 22 individuals over the age of 65, an urgent care, a pharmacy, and residential

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)

PIDC ANNOUNCES A $60 MILLION ALLOCATION IN U.S. TREASURY NEW MARKETS TAX CREDITS

The 7th award for PIDC Community Capital for a total of $373 million in New Markets Tax Credit allocations over 13 years PHILADELPHIA (September 2, 2021) – Today, PIDC announced its CDFI subsidiary, PIDC Community Capital, was awarded $60 million in New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department’s Community Development Financial

Powel & SLA-MS

In December 2019, Drexel University and the School District of Philadelphia held a groundbreaking ceremony to celebrate the new construction of a 2-story 90,000 square foot school building in the Powelton section of Philadelphia, a federally designated Promise Zone with a poverty rate of 48%. Fast-forward to 2021, and the construction project is now complete,

RESTART Update: New Markets Tax Credits

Working in partnership with the City of Philadelphia Department of Commerce, the Chamber of Commerce for Greater Philadelphia, and Philadelphia Works, we have jointly identified four phases of work to drive an equitable economic recovery in Philadelphia: [/av_textblock] [/av_one_full] [av_one_fourth first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’

The Clay Studio Breaks Ground on New Facility

The groundbreaking is a culmination of a $13.7 million capital campaign, which was supported by an allocation of New Markets Tax Credits from PIDC. In this project, PIDC joins lending partners Local Initiatives Support Corporation (Philadelphia), Reinvestment Fund, and Wells Fargo. The new facility at 1425 N. American St. is a milestone for the nearly

Groundbreakings & Ribbon Cuttings

Some of PIDC’s spectacular neighborhood projects have recently cut the ribbons and celebrated opening their doors. Here are a few notable projects that have either renovated their current location or opened at an entirely new location. Community Partnership School is now in its 14th year of providing high quality and affordable early childhood and elementary