Philadelphia Industrial Development Corp

PIDC PLANS AND IMPLEMENTS ECONOMIC DEVELOPMENT INITIATIVES (SEE SCHEDULE O) WHICH ENHANCE THE COMPETITIVE ENVIRONMENT, GENERATE JOBS AND PRODUCE HIGHER TAX RATABLES THROUGHOUT PHILADELPHIA.

SUPPORT GROWTH & RESILIENCE OF BUSINESSES AND DEVELOPERS (ECONOMIC DEVELOPMENT)SEE SCHEDULE OSUPPORT GROWTH & RESILIENCE OF BUSINESSES AND DEVELOPERS: PIDC PROVIDES SUPPORT TO ITS AFFILIATES (PIDC LOCAL DEVELOPMENT CORPORATION, PIDC COMMUNITY CAPITAL, PIDC FINANCING CORPORATION AND PIDC PENN VENTURE FUND) TO INVEST FLEXIBLE, AFFORDABLE CAPITAL IN GROWING COMPANIES TO HELP THEM SUCCEED. PIDC AND ITS AFFILIATES PROVIDE CAPITAL WHERE TRADITIONAL FINANCING IS DIFFICULT TO ACCESS OR NOT ABLE TO MEET AN OWNER'S NEEDS. PIDC INVESTS FLEXIBLE, AFFORDABLE CAPITAL IN GROWING LOCAL BUSINESSES - THE BACKBONE OF OUR ECONOMY - BECAUSE THEY CREATE JOBS, BUILD WEALTH FOR ENTREPRENEURS, AND STABILIZE NEIGHBORHOODS. PIDC ALSO SUPPORTS DEVELOPERS IN FINANCING COMMUNITY-ORIENTED PROJECTS. THROUGH A VARIETY OF FUNDING RESOURCES, EDUCATIONAL PROGRAMS, AND ONE-ON-ONE TECHNICAL SUPPORT, PIDC FILLS CRITICAL GAPS FOR BUSINESS OWNERS AND NONPROFIT LEADERS WHO LACK ACCESS TO TRADITIONAL CAPITAL. IN ADDITION, WE SUPPORT DEVELOPERS PRODUCING TRANSFORMATIVE PROJECTS THAT HAVE A POSITIVE, LASTING IMPACT ACROSS THE CITY- PROVIDING JOBS, SERVICES, AND AMENITIES. IN 2022, PIDC ORIGINATED $35.3 MILLION IN NEW LOANS TO 76 SMALL AND MID-SIZED BUSINESSES, NONPROFITS, AND DEVELOPERS THROUGH CATALYTIC PROJECTS IN NEIGHBORHOODS IN PHILADELPHIA. $20.1 MILLION WAS INVESTED IN MINORITY BUSINESSES. $7.9 MILLION WAS INVESTED IN WOMEN-OWNED BUSINESSES. 62% OF ALL PIDC CORE LENDING WENT TO DIVERSE/MINORITY BUSINESS ENTERPRISES. PIDC ALLOCATED $35.6M OF NEW MARKET TAX CREDITS TO SIX HIGH-IMPACT PROJECTS IN PHILADELPHIA. THE NMTC PROGRAM IS A US TREASURY PROGRAM WHICH UTILIZES FEDERAL TAX CREDITS TO ATTRACT PRIVATE INVESTMENT IN LOW-INCOME COMMUNITIES. THESE PROJECTS CREATE QUALITY JOBS, PROVIDE ESSENTIAL GOODS AND SERVICES, AND STIMULATE ADDITIONAL INVESTMENT IN OUR NEIGHBORHOODS. PIDC HAS WON OVER $418 MILLION IN NMTC ALLOCATION BETWEEN 2007 AND 2022.IN 2022, WE FURTHER EXPANDED OUR BUSINESS SUPPORT SERVICES -EDUCATIONAL WORKSHOPS, ONE-ON-ONE COUNSELING, CREDIT REPAIR, AND NETWORKING EVENTS- DESIGNED TO SUPPORT BUSINESS GROWTH. WHILE ALL IN-PERSON PROGRAMMING TRANSITIONED TO A VIRTUAL ENVIRONMENT BEGINNING IN MARCH 2020 DUE TO THE PANDEMIC, WE CONTINUED TO CONNECT PHILADELPHIA'S SMALL BUSINESS COMMUNITY TO TRUSTED KNOWLEDGE AND RESOURCES VIA VIRTUAL WORKSHOPS. PIDC BUSINESS BUILDER WORKSHOPS ARE YEAR-ROUND WORKSHOPS WHICH PROVIDE CRITICAL BUSINESS EDUCATION TO ENTREPRENEURS AND ORGANIZATIONS FROM EVERY INDUSTRY. PIDC HOSTED 27 WORKSHOPS WITH MORE THAN 781 ATTENDEES. TOPICS INCLUDED BUYING AND FINANCING COMMERCIAL REAL ESTATE, FEDERAL GOVERNMENT CONTRACTING, TAX SEASON PREPARATION, THE HIDDEN ISSUES OF USING REAL ESTATE AS BUSINESS LOAN COLLATERAL, AND BUSINESS EDUCATION AND MENTORING PROGRAMS. IN 2022, PIDC CONTINUED A SERIES OF SPANISH-LANGUAGE WORKSHOPS AS A PART OF OUR STRATEGY TO BETTER SERVE SPANISH-SPEAKING ENTREPRENEURS, ONE OF THE FASTEST GROWING BUSINESS GROUPS IN PHILADELPHIA. THE SERIES IS PART OF PIDC'S BUSINESS BUILDER WORKSHOPS. TOPICS IN THE SERIES INCLUDE BUDGETING, BUILDING CREDIT, CITY RESOURCES, BUYING AND FINANCING COMMERCIAL REAL ESTATE, LEADERSHIP, AND MORE. PLUS, WE PARTICIPATED IN GLOBAL ENTREPRENEURSHIP WEEK WITH A FULLY SPANISH LANGUAGE WORKSHOP DISCUSSING PREPARATION FOR TAX SEASON.

INVEST IN HIGH IMPACT REVITALIZATION (CONTRACT MANAGEMENT)SEE SCHEDULE OINVEST IN HIGH IMPACT REVITALIZATION: IN 2022, PIDC ADMINISTERED 54 GRANTS TOTALING $55 MILLION FOR PROJECTS ON BEHALF OF THE COMMONWEALTH OF PENNSYLVANIA, CITY OF PHILADELPHIA, AND THE PHILADELPHIA WATER DEPARTMENT. A GRANT FUNDED BY THE PA OFFICE OF THE BUDGET FOR THE ACQUISITION AND CONSTRUCTION OF ECONOMIC DEVELOPMENT, CULTURAL, CIVIC, RECREATIONAL, AND HISTORICAL IMPROVEMENT PROJECTS: SPECIAL PEOPLE IN NORTHEAST (SPIN), A SOCIAL SERVICE PROVIDER WHO HELPS PEOPLE OF ALL AGES WITH INTELLECTUAL OR DEVELOPMENTAL DISABILITIES, RECENTLY FINISHED THE CONSTRUCTION OF A NEW EARLY CHILDHOOD EDUCATION CENTER WITH $850,000 FROM THE REDEVELOPMENT CAPITAL ASSISTANCE PROGRAM. THIS NEW FACILITY HOUSES EIGHT CLASSROOMS AND AN INDOOR/OUTDOOR PLAY SPACE. THIS EXPANSION WILL ALLOW SPACE FOR 40 ADDITIONAL STUDENTS.INVESTING IN PUBLIC WORKS AND COMMUNITY DEVELOPMENT ACROSS THE CITY: THE LOCAL NONPROFIT FAIRMOUNT PARK CONSERVANCY LEADS CAPITAL PROJECTS AND HISTORIC PRESERVATION EFFORTS, FOSTERS NEIGHBORHOOD PARK STEWARDSHIP, ATTRACTS AND LEVERAGES INVESTMENTS, AND DEVELOPS INNOVATIVE PROGRAMS THROUGHOUT THE APPROXIMATELY 10,200 ACRES THAT INCLUDE FAIRMOUNT PARK AND MORE THAN 200 NEIGHBORHOOD PARKS AROUND PHILADELPHIA. FAIRMOUNT PARK CONSERVANCY IS CURRENTLY WORKING ON THE FDR PARK MASTER PLAN. THE PLAN INCLUDES THE CREATION OF THE NEW PATTISON PLAYGROUND AT FDR PARK THAT IS DESIGNED WITH SUSTAINABILITY IN MIND AND FULLY AMERICANS WITH DISABILITIES ACT (ADA) ACCESSIBLE. THIS $2.4 MILLION GRANT HELPS FUND A NEW WORLD CLASS PLAYGROUND CONSISTING OF 93,000 SQUARE FEET OF IMPROVEMENTS, INCLUDING CUSTOM PLAY EQUIPMENT AND CLIMBERS ALONG WITH ASSOCIATED STRUCTURAL FOOTINGS. A PICNIC PAVILION, OUTDOOR FURNISHINGS, A WATER FOUNTAIN, AND A HOSE BIB SUPPORT THE NEW PLAY INFRASTRUCTURE. THE PROJECT INCLUDES 30 NEW TREES ALONG WITH THE PRESERVATION AND MAINTENANCE OF 20 EXISTING TREES.FUNDS THE DESIGN AND CONSTRUCTION OF STORMWATER RETROFIT PROJECTS ON COMMERCIAL, INDUSTRIAL, MULTIFAMILY, AND INSTITUTIONAL PROPERTIES: STORMWATER MANAGEMENT PROJECTS HELP CAPTURE RAINWATER, DECREASE FLOODING AND SEWER OVERFLOWS, AND REDUCE POLLUTION. IN 2022, PIDC STRUCTURED THE SECOND LARGEST SHARED STORMWATER MANAGEMENT PROJECT IN PHILADELPHIA FOR THE PARKING LOTS NEAR CITIZENS BANK PARK, WHICH COMES ONE YEAR AFTER ALSO STRUCTURING AN EVEN LARGER STORMWATER PROJECT IN 2021 ON THE SITE OF A VACANT WAREHOUSE NEAR CITIZENS BANK PARK. THIS PROJECT, CONSTRUCTED IN THREE PHASES STARTING IN 2023, WILL MANAGE 60 GREEN ACRES AROUND THE PHILLIES' HOME. WHEN COMPLETED, IT WILL MANAGE 29 MILLION GALLONS OF RAIN EACH YEAR. TO PUT THAT IN PERSPECTIVE, THAT EQUALS NEARLY 44 OLYMPIC-SIZED SWIMMING POOLS.

CATALYZE OPPORTUNITIES FOR INCLUSIVE GROWTHSEE SCHEDULE OCATALYZE OPPORTUNITIES FOR INCLUSIVE GROWTH: PIDC SEEKS TO TRANSITION UNDERUTILIZED ASSETS INTO PRODUCTIVE USE BRINGS NEW LIFE TO MAJOR AREAS OF THE CITY IN TRANSITION, CREATES JOBS, AND DEVELOPS THE NEXT GENERATION OF JOB-CREATING REAL ESTATE. WHILE LAND SALES WERE LIMITED THIS YEAR, IT WAS AN ACTIVE YEAR FOR COMMERCIAL AND INDUSTRIAL LAND SALES AS PIDC CONTINUED TO POSITION LAND FOR DEVELOPMENT AT THE NAVY YARD AND ON THE LOWER SCHUYLKILL RIVER, WITH ACTIVITY RAMPING UP OVER THE NEXT FEW YEARS.OVER THE LAST DECADE PIDC HAS WORKED TO ASSEMBLE AND REMEDIATE 60 ACRES OF CONTAMINATED INDUSTRIAL LAND ALONG THE WESTERN BANK OF THE SCHUYLKILL RIVER IN SOUTHWEST PHILADELPHIA. A TOTAL OF 20 ACRES HAVE BEEN GIVEN TO THE CITY FOR PUBLIC OPEN SPACE AND EXTENSIONS OF THE SCHUYLKILL RIVER TRAIL. THE REMAINING TWO SITES TOTALING 40 ACRES, WHICH ARE KNOWN AS BARTRAM'S NORTH AND SOUTH DUE TO THEIR LOCATION ADJACENT TO HISTORIC BARTRAM'S GARDEN, HAVE BEEN PREPARED TO SUPPORT NEW INVESTMENT AND DEVELOPMENT AS PART OF THE FUTURE LOWER SCHUYLKILL BIOTECH CAMPUS (LSBC). CONSISTENT WITH THE CITY OF PHILADELPHIA'S LOWER SCHUYLKILL MASTER PLAN, THESE SITES WILL SUPPORT UP TO 850,000 SQUARE FEET OF CELL AND GENE THERAPY AND ADVANCED MANUFACTURING SPACE, ATTRACTING UP TO $550 MILLION IN INVESTMENT AND CREATING UPWARDS OF 900 TO 2,800 JOBS. PIDC IS COMMITTED TO ENSURING THAT THE DEVELOPMENT PROCESS IS EQUITABLE, INCLUSIVE, AND BENEFITS THE NEARBY COMMUNITY. WHEN SUCCESSFULLY REALIZED, THE LSBC WILL BE A COMPETITIVE HOME FOR THE NATION'S LEADING BIOMANUFACTURERS AND THE ADVANCEMENT OF CURES. NEIGHBORING THE CORE RESEARCH INSTITUTIONS AND DRUG DEVELOPMENT FIRMS OF UNIVERSITY CITY IN THE HEART OF THE LOWER SCHUYLKILL INNOVATION DISTRICT, LSBC IS BOUNDED BY THE BEAUTY AND BIODIVERSITY OF THE RIVERFRONT, A HISTORIC BOTANIC GARDEN, AND THE COMMUNITY OF KINGSESSING IN SOUTHWEST PHILADELPHIA.AT THE NAVY YARD, 2022 WAS ANOTHER MAJOR YEAR FOR DEVELOPMENT, PLACEMAKING, AND INVESTMENT, BUILDING ON THE NEARLY 25 YEARS OF TRANSFORMATION PIDC HAS LED IN REDEVELOPING THE BUSINESS DISTRICT. IN JUNE 2022, PIDC AND ENSEMBLE/MOSAIC UNVEILED THE 2022 NAVY YARD PLAN, A TRANSFORMATIVE ROADMAP FOR EQUITABLE GROWTH THAT THROUGHOUT THE NEXT 20 YEARS WILL DELIVER 12,000 NEW JOBS, 8.9 MILLION SQUARE FEET OF NEW LIFE SCIENCE, COMMERCIAL, RESIDENTIAL, RETAIL, AND MIXED-USE DEVELOPMENT AND $6 BILLION OF NEW INVESTMENT - OF WHICH, $4.8 BILLION WILL BE GENERATED BY ENSEMBLE/MOSAIC'S DEVELOPMENT INITIATIVES. THE DYNAMIC NEW PLAN LEVERAGES SUSTAINED GROWTH IN ADVANCED LIFE SCIENCES AND MANUFACTURING, INCREASED ACCESSIBILITY, AND INCLUSIVE MIXED-USE DEVELOPMENT TO DRIVE EQUITABLE ECONOMIC GROWTH, WITH ROBUST OPPORTUNITIES FOR DIVERSE BUSINESSES AND AN EXPANSIVE ARRAY OF QUALITY-WAGE JOBS AND WORKFORCE DEVELOPMENT TRAINING PROGRAMS.