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PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION (PIDC) is a private, not-for-profit Pennsylvania corporation, founded in 1958 by the City of Philadelphia and the Greater Philadelphia Chamber of Commerce to promote economic development throughout the city.
PIDC's central strategy is to leverage financing and real estate resources to retain and to grow employment in Philadelphia. PIDC also coordinates tax incentive and work force development programs offered by the City and the Commonwealth. Clients range from the traditional base of commercial and industrial businesses to the developers of large, public purpose facilities to non-profits, in all neighborhoods of Philadelphia.
A thirty-member Board of Directors appointed by the Mayor of Philadelphia and the President of the Greater Philadelphia Chamber of Commerce governs PIDC. The Staff includes 60 full-time employees and the annual budget is funded largely from service fees generated by PIDC’s business activities.
PIDC also manages the Philadelphia Authority for Industrial Development (PAID) which is a conduit for tax exempt debt and other economic development transactions.
Throughout its fifty year history, PIDC has closed a total of 5350 individual transactions with combined project costs of $15 billion, which have contributed to retaining and creating over 442,000 jobs in Philadelphia.
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