PIDC

PIDC is a public-private economic development corporation founded by the City of Philadelphia and the Chamber of Commerce for Greater Philadelphia in 1958. The organization provides a range of financing and real estate products to businesses, nonprofits, and developers across all neighborhoods of Philadelphia. PIDC aims to foster a more inclusive, equitable, and sustainable economic environment where all residents can benefit from growth and development. The organization operates with a focus on racial equity, the future of work, and resilience and sustainability. PIDC serves a diverse client base, including small businesses, large enterprises, nonprofit organizations, and real estate developers. Its business model revolves around offering loans, grants, and real estate services to stimulate economic growth and community development. PIDC generates revenue through interest on loans, fees for services, and returns on real estate investments. The organization is governed by a thirty-member Board of Directors appointed by the Mayor of Philadelphia and the President of the Greater Philadelphia Chamber of Commerce.

Keywords: economic development, financing, real estate, nonprofits, businesses, Philadelphia, racial equity, sustainability, community growth, public-private partnership.