Philadelphia Industrial Development Corp

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

SEE SCHEDULE OSUPPORTING GROWING BUSINESSES: 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. IN 2021, PIDC INVESTED MORE THAN $10M OF CAPITAL THROUGH LOANS AND GRANTS TO SMALL AND MID-SIZED BUSINESSES IN EVERY CORNER OF PHILADELPHIA. IN 2021, IT WAS STILL CLEAR THAT NEW RESOURCES WOULD BE NECESSARY TO ADDRESS THE SEVERE ECONOMIC IMPACTS OF THE PANDEMIC. PIDC CREATED NEW FINANCIAL RELIEF PRODUCTS, LEVERAGED TECHNOLOGY TO DELIVER BUSINESS SUPPORT SERVICES TO MORE BUSINESSES THAN WE EVER HAD BEFORE, AND FORGED NEW PARTNERSHIPS WHILE STRENGTHENING EXISTING ONES. IN 2021, PIDC INVESTED $32.6M THROUGH 23 LOANS IN 13 CATALYTIC PROJECTS IN NEIGHBORHOODS THROUGHOUT PHILADELPHIA. IN JANUARY 2021, THE CITY OF PHILADELPHIA AND PIDC LAUNCHED THE PHILADELPHIA COVID-19 RESTAURANT AND GYM RELIEF PROGRAM (RGRP). THE PROGRAM WAS DESIGNED TO PROVIDE FINANCIAL RELIEF TO SMALL BUSINESSES LOCATED IN PHILADELPHIA THAT HAVE BEEN AMONG THE MOST ADVERSELY AFFECTED BY THE PANDEMIC-RELATED RESTRICTIONS ENACTED IN NOVEMBER 2020. ELIGIBLE BUSINESSES WERE RESTAURANTS WITH INDOOR DINING, GYMS, AND BUSINESSES WHOSE PRIMARY ACTIVITY IS INDOOR EXERCISE. GRANT AWARDS WERE UP TO $15,000 PER BUSINESS. THE BUSINESSES THAT RECEIVED AWARDS STRETCH ACROSS 59 ZIP CODES THROUGHOUT PHILADELPHIA, WITH 81 PERCENT LOCATED IN NEIGHBORHOODS OUTSIDE OF CENTER CITY, FROM WAYNE JUNCTION TO POINT BREEZE. ACCORDING TO SELF-REPORTED DEMOGRAPHIC INFORMATION, OVER 50 PERCENT OF AWARDS WENT TO MINORITY BUSINESS OWNERS, WHILE ONE-THIRD WENT TO WOMAN-OWNED BUSINESSES. THE AVERAGE GRANT SIZE WAS $13,200 PER BUSINESS. A TOTAL OF $12.1M WAS AWARDED TO 913 SMALL BUSINESSES IN PHILADELPHIA.ALSO DURING 2021, THE COMMONWEALTH CREATED THE COVID-19 HOSPITALITY INDUSTRY RECOVERY PROGRAM (CHIRP) $145M STATEWIDE FUND TO ALLEVIATE REVENUE LOSSES AND PAY ELIGIBLE OPERATING EXPENSES FOR CERTAIN BUSINESSES IN THE HOSPITALITY INDUSTRY SEVERELY IMPACTED BY THE COVID-19 PANDEMIC. PHILADELPHIA COUNTY RECEIVED APPROXIMATELY $17M IN FUNDING TO PROVIDE GRANTS TO ELIGIBLE BUSINESSES THROUGH THIS PROGRAM. GRANTS WERE AVAILABLE IN THE RANGE FROM $5,000-$50,000. PIDC ADMINISTERED THIS PROGRAM FOR BUSINESSES LOCATED IN PHILADELPHIA IN PARTNERSHIP WITH THE PHILADELPHIA DEPARTMENT OF COMMERCE. PIDC ALSO PARTNERED WITH OTHER COMMUNITY PARTNERS TO DELIVER THIS PROGRAM. MORE THAN $17.4M WAS AWARDED TO 977 HOSPITALITY BUSINESSES IN PHILADELPHIA. DURING 2021, PIDC CONTINUED THE RESTART PHL LOAN PROGRAM EFFORTS THAT WAS LAUNCHED IN 2020 THAT IS DESIGNED TO PROVIDE FLEXIBLE LOW-COST CAPITAL TO SMALL BUSINESSES WITH LESS THAN $5M IN REVENUE AS THEY RE-IMAGINE, PIVOT, AND SUSTAIN THEIR BUSINESSES DURING THE PANDEMIC. THIS PROGRAM PROVIDES FINANCIAL SUPPORT FOR COSTS ASSOCIATED WITH IMPROVED BUSINESS RESILIENCE OR GROWTH, INCLUDING WORKING CAPITAL, FIT-UP, INVENTORY, TECHNOLOGY, MOBILIZATION, STAFFING, AND EMPLOYEE TRAINING. THE LOAN PROGRAM AIMS TO INVEST IN HISTORICALLY DISADVANTAGED COMMUNITIES WITH A SPECIFIC FOCUS ON MINORITY, WOMEN, AND IMMIGRANT-OWNED BUSINESSES AND NONPROFITS LOCATED ON COMMERCIAL CORRIDORS IN LOW-INCOME AREAS. IN 2021, PIDC PROVIDED A TOTAL OF $3.3M IN FINANCING FOR 29 SMALL BUSINESSES THROUGH THE RESTART PHL LOAN, WHICH RANGED FROM $25,000 TO $250,000.IN 2021, WE FURTHER EXPANDED OUR BUSINESS SUPPORT SERVICES - EDUCATIONAL WORKSHOPS, ONE-ON-ONE COUNSELING, AND NETWORKING EVENTS - DESIGNED TO SUPPORT BUSINESS GROWTH. IN MARCH 2020, ALL IN-PERSON SERVICES TRANSITIONED TO A VIRTUAL ENVIRONMENT AS WE CONTINUED TO CONNECT PHILADELPHIA'S SMALL BUSINESS COMMUNITY TO TRUSTED KNOWLEDGE AND RESOURCES. PIDC HOSTED 59 WORKSHOPS WITH MORE THAN 1,900 ATTENDEES. TOPICS INCLUDED EMERGENCY FUNDING FROM THE U.S. SMALL BUSINESS ADMINISTRATION, NEW PIDC FUNDING PROGRAMS, BUSINESS EDUCATION AND MENTORING PROGRAMS. PLUS, WE PARTICIPATED IN GLOBAL ENTREPRENEURSHIP WEEK WITH A PANEL OF THOUGHT-LEADERS DISCUSSING THE TOPIC, "WHAT THE FUTURE HOLDS FOR FUNDING ENTREPRENEURS OF COLOR." IN NOVEMBER 2021, PIDC KICKED OFF AN EIGHT MONTH SERIES OF FULLY 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 - YEAR-ROUND WORKSHOPS WHICH PROVIDE CRITICAL BUSINESS EDUCATION TO ENTREPRENEURS AND ORGANIZATIONS FROM EVERY INDUSTRY.

CONTRACT MANAGEMENT: PIDC PROVIDES SERVICES TO MANAGE FUNDING AND DISTRIBUTION OF GRANTS TO BE USED FOR PROJECTS THAT FACILITATE JOB CREATION AND ECONOMIC DEVELOPMENT WITHIN PHILADELPHIA. PIDC ALSO ADMINISTERED 26 GRANTS TOTALING NEARLY $23M FOR STORMWATER AND CAPITAL PROJECTS.

SEE SCHEDULE OPROPERTY MANAGEMENT: TRANSITIONING 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. IN 2021, PIDC COMPLETED THREE INDUSTRIAL LAND PORTFOLIO SALES TOTALING 40 ACRES. IT WAS AN ACTIVE YEAR FOR COMMERCIAL AND INDUSTRIAL LAND SALES AS PIDC CONTINUED TO POSITION LAND FOR DEVELOPMENT.IN NOVEMBER 2021, PIDC CLIENT AND MISSOURI-BASED REAL ESTATE DEVELOPMENT FIRM, NORTHPOINT DEVELOPMENT, HELD A GROUNDBREAKING CEREMONY FOR PHILADELPHIA GAS WORKS' (PGW) NORTH OPERATIONS CENTER IN NORTHEAST PHILADELPHIA. PIDC SOLD THE VACANT INDUSTRIAL LAND SITE TO NORTHPOINT DEVELOPMENT, IN JANUARY 2021 FOR THE DEVELOPMENT OF A 208K SF BUILD-TO-SUIT PROJECT FOR PGW. THE NEW BUILDING WILL FEATURE THE LATEST ENERGY-EFFICIENT TECHNOLOGY AND STATE-OF-THE-ART TRAINING FACILITIES TO ENHANCE SERVICE FOR PGW'S CUSTOMERS.PIDC, IN CONJUNCTION WITH THE PHILADELPHIA CITY PLANNING COMMISSION AND THE CITY OF PHILADELPHIA DEPARTMENT OF COMMERCE, LAUNCHED A REQUEST FOR PROPOSALS FOR A CONSULTING TEAM TO PROVIDE PLANNING, LAND USE ECONOMICS, AND MARKET RESEARCH SERVICES IN ORDER TO PRODUCE A NEW PHILADELPHIA MARKET AND LAND USE STRATEGY STUDY THAT ADDRESSES THE FUTURE OF INDUSTRIAL LAND USE AND DEVELOPMENT IN PHILADELPHIA AND ACCOUNTS FOR THE CHANGING NEEDS OF THE SECTOR. THE STUDY WILL BUILD UPON THE PREVIOUS INDUSTRIAL MARKET AND LAND USE STRATEGY REPORT FINALIZED IN 2010, WHILE PRODUCING UPDATED INFORMATION ABOUT PHILADELPHIA'S INDUSTRIAL ACTIVITY, MARKET ANALYSIS, SUPPLY AND DEMAND OF INDUSTRIAL LAND, AND RECOMMENDATIONS ADDRESSING BOTH CURRENT AND FUTURE CHALLENGES AND OPPORTUNITIES OF PHILADELPHIA'S INDUSTRY AND LAND USE.THE NAVY YARD: 2021 WAS A BIG YEAR FOR DEVELOPMENT, PLACEMAKING AND INVESTMENT, AT THE NAVY YARD. IN APRIL 2021, PIDC AND ENSEMBLE/MOSAIC ANNOUNCED THE SELECTION OF JAMES CORNER FIELD OPERATIONS ("FIELD OPERATIONS") TO LEAD THE MASTER PLANNING UPDATE PROCESS FOR THE PHILADELPHIA NAVY YARD. FIELD OPERATIONS HAS ASSEMBLED A TEAM OF 13 SUBJECT MATTER EXPERT CONSULTING FIRMS WITH EXPERTISE IN ARCHITECTURE, COMMUNITY PLANNING, TRANSPORTATION, LIFE SCIENCES LAB AND MANUFACTURING PLANNING, SURVEY AND ENGINEERING, HOUSING AFFORDABILITY AND INCLUSIVE RETAIL INFRASTRUCTURE, LEED/SUSTAINABILITY, WELCOMING PUBLIC SPACES, AND ARTS-BASED ENGAGEMENT. THE PLAN, WHICH WILL BE AN UPDATE AND EXPANSION OF THE INITIAL MASTER PLAN DEVELOPED IN 2004 AND UPDATED IN 2013, WILL BE RELEASED IN MAY 2022.NEARLY HALF OF THE CONTRACT WILL BE PERFORMED BY CERTIFIED MINORITY- AND WOMEN-OWNED BUSINESS ENTERPRISES (MBE/WBE) WITH SPECIALIZED EXPERTISE IN KEY ELEMENTS OF THE PLAN, AND NEARLY ALL HAVE A LOCAL PRESENCE IN THE PHILADELPHIA REGION.IN MAY 2021, PIDC ANNOUNCED THE AWARD FOR A 10-YEAR ELECTRIC UTILITY OPERATIONS AND MAINTENANCE (O&M) SERVICES CONTRACT TO DOMINION ENERGY FOR THE NAVY YARD FOLLOWING A HIGHLY COMPETITIVE SOLICITATION PROCESS. IN NOVEMBER 2021, DOMINION ENERGY TOOK OVER THE O&M SERVICES CONTRACT FOR THE NAVY YARD. DOMINION ENERGY WILL PROVIDE RESPONSIVE ON-SITE MANAGEMENT TO THE NAVY YARD AND ITS CUSTOMERS, WHO WILL GAIN INDUSTRY-LEADING SERVICE RELIABILITY, FINANCIAL PERFORMANCE, INNOVATION, RESPONSIVENESS, AND SERVICE RELIABILITY TO SUPPORT EFFECTIVE RESPONSE TO ROUTINE, URGENT, AND EMERGENCY SERVICE NEEDS AND INTERRUPTIONS.IN AUGUST 2021, MAYOR JIM KENNEY AND LEADERS FROM CITIZENS ENERGY AND PIDC FLIPPED THE SWITCH TO DEDICATE THE 6.4-MEGAWATT BATTERY ENERGY STORAGE SYSTEM (BESS), A 2,240-LITHIUM ION BATTERY SYSTEM WILL PROVIDE A CHEAPER SOURCE OF ENERGY FOR THE BUSINESS TENANTS OF THE NAVY YARD THROUGH PEAK SHAVING TECHNOLOGY WHEN THE DEMAND AND COST OF POWER IS HIGHEST THROUGHOUT THE DAY. AT TIMES WHEN THE PRICE OF ENERGY IS STABLE LOCALLY, THE BESS WILL PARTICIPATE IN THE PENNSYLVANIA-NEW JERSEY-MARYLAND (PJM) INTERCONNECTION'S FREQUENCY REGULATION MARKET TO REGULATE POWER ON THE REGIONAL GRID.PIDC LAUNCHED ITS COLLABORATIVE PROFESSIONAL DEVELOPMENT PROGRAM WITH THE UNIVERSITY CITY DISTRICT'S WEST PHILADELPHIA SKILLS INITIATIVE (WPSI) TO TRAIN PHILADELPHIA RESIDENTS FOR PERMANENT, FULL-TIME, QUALITY-WAGE CAREERS AT THE NAVY YARD. THIS WORKFORCE PROGRAM TRAINS AND CONNECTS PHILADELPHIANS TO ROLES WITH NAVY YARD EMPLOYERS SEEKING TALENT AND WILL BUILD UPON AND EXPAND THE SUCCESSFUL AND PROVEN WPSI PROFESSIONAL DEVELOPMENT MODEL.IN 2021, THE NAVY YARD WORKFORCE SKILLS INITIATIVE (NYSI) IMPLEMENTED TWO PROGRAMS AND CONNECTED 22 PROGRAM GRADUATES TO FULL-TIME PERMANENT EMPLOYMENT WITH TWO NAVY YARD EMPLOYERS, FOUR SEASONS TOTAL LANDSCAPING AND PHILLY SHIPYARD, INC, WITH AT LEAST FOUR ADDITIONAL PROGRAMS SCHEDULED FOR 2022.GROUP X AND THE NAVY YARD LAUNCHED ITS FOURTH COLLABORATIVE PUBLIC ART EXHIBIT, MAGICAL FANTASY (#NAVYYARDMAGIC), A NESTLED WONDERLAND OF IMMERSIVE SPATIAL ARTWORKS BY LONDON-BASED ARTIST MORAG MYERSCOUGH. MAGICAL FANTASY CAN BE FOUND AT THE NAVY YARD'S ICONIC AND HISTORIC MARINE PARADE GROUNDS WHERE IT WILL BE ON VIEW THROUGH OCTOBER 2022.