PIDC is Philadelphia’s public-private economic development corporation founded by the City of Philadelphia and the Chamber of Commerce for Greater Philadelphia in 1958. Its mission is to create quality jobs and grow a global economy through economic development that ultimately achieves a high quality of life for all who live and work in Philadelphia. PIDC works with companies of all sizes driving growth to every corner of the city.
PIDC is committed to driving transformative growth for Philadelphians with a human-centered approach by directing financial and real estate services, knowledge, and networks toward creating a more vibrant city.
Supporting the Growth of Philadelphia Businesses
PIDC offers flexible financing tools, targeted industrial and commercial real estate development solutions, and decades of Philadelphia-based knowledge to help clients invest, develop, and grow—with a goal of creating more jobs and opportunities for Philadelphians. It also structures and invests in public-private partnerships for key City policy areas and development priorities.
Supporting the growth and resilience of Philadelphia’s businesses requires strategic investment in high-impact community revitalization efforts and catalytic opportunities for economic growth for all. Success is measured by lasting impact on jobs, neighborhoods, and opportunity citywide. Below is a sampling of projects that bring this work to life:
Urban Development and Job Hubs
The transformation of the former Philadelphia State Hospital site into the Byberry Industrial Park stands as a definitive case study in PIDC’s expertise in shepherding long-term, large-scale urban transformations into sustainable, job-creating hubs. This project exemplifies our sophisticated real estate solutions work, where we provided the steady, decades-long stewardship required for complex land assembly and infrastructure investment on a once-dormant 300-acre campus. By methodically parceling and selling more than 75 sites to a diverse mix of industrial, commercial, and institutional users, PIDC successfully converted an abandoned institutional asset into a premier engine for regional employment. This sustained commitment has not only attracted vital investment and services to Northeast Philadelphia but has also secured thousands of living-wage jobs, proving our unique ability to manage the intricate public-private collaborations necessary to turn neglected areas of the city into competitive centers of modern economic opportunity.
Similarly, the vision for the Lower Schuylkill Innovation Campus reflects PIDC’s leadership in managing complex, multi-decade industrial transformations. Building on years of site control, environmental remediation, and infrastructure planning, PIDC is repositioning this legacy industrial corridor into a modern hub for advanced manufacturing, logistics, and innovation. By aligning public investment with market demand and preparing sites to be pad-ready and competitive, PIDC continues to reinforce its role as the City’s strategic real estate partner—turning legacy industrial areas into resilient, future-focused centers of employment and economic growth.
Community Impact Project Through New Markets Tax Credits
Through strategic New Markets Tax Credit (NMTC) equity investments, a US Treasury Department program which utilizes federal tax credits to attract private investment in low-income communities, PIDC deploys private capital to advance high-impact community projects in underserved neighborhoods across Philadelphia. Recent investments include the Reverend Leon H. Sullivan Community Impact Center in North Philadelphia, expanding healthcare and workforce services; renovations at Delaware Valley Community Health to launch the city’s first Family Medicine Residency Program; and financing support for the ACANA Africa Center in Southwest Philadelphia, a future hub for cultural, health, and community services.
Together, these projects expand access to essential resources, create jobs, and strengthen neighborhoods.
Transforming the Navy Yard
PIDC is also the lead developer of one of the largest economic development projects in Philadelphia, the Navy Yard. Since 2000, PIDC has driven commercial and industrial development through a successful, 25-year partnership between the City, PIDC, the Commonwealth, and federal partners. Today, the Navy Yard is home to over 150 companies and more than 16,000 employees. Companies range from shipbuilding and traditional manufacturing, to cutting-edge cell and gene therapy companies and major industrial R&D facilities. The latest Navy Yard plan with our development partners will bring over 12,000 additional jobs, nearly 9 million square feet of space, and $6 billion in new investment over 20 years.
The Skills Initiative at the Navy Yard
The Skills Initiative at The Navy Yard, a workforce training program designed in conjunction with University City District, connects Philadelphia residents to quality careers while helping employers meet their talent needs. Through targeted training partnerships and employer collaboration, the initiative creates clear pathways to family-sustaining jobs in growing industries on the campus. By aligning workforce preparation with real-time employer demand, The Skills Initiative strengthens both individual opportunity and the long-term competitiveness of the Navy Yard.
The Skills Initiative has placed 185 local workers in quality, full-time jobs at organizations throughout the Navy Yard. The program not only connects Philadelphians with high quality jobs at Navy Yard companies, but also helps companies find Philadelphia-based talent to support their growth.
Investing in Businesses and the Future of Philadelphia
Over 65+ years, PIDC has completed more than 13,500 transactions, delivering nearly $21 billion in financing and 3,400+ acres of land sales. These investments have helped retain and create hundreds of thousands of jobs in Philadelphia, leveraging tens of billions in total economic impact.
Financing: PIDC supports businesses, developers, and nonprofit organizations of all sizes with flexible financing solutions. The organization assists growing businesses with loans for working capital and equipment, capital projects, and contract lines of credit. PIDC works with businesses that have difficulty accessing traditional financing, including those in need of real-time technical assistance. It also provides capital to development projects that create jobs, revitalize neighborhoods, and deliver important goods and services.
Real Estate Services: PIDC plans, develops, and invests in Philadelphia’s workplaces for the future. The organization acquires, improves, and sells industrial land throughout Philadelphia, as well as buildings and land owned by the City of Philadelphia. PIDC structures and invests in public-private partnerships that advance key City priorities.
Business Support Services: PIDC partners with organizations to provide business support services and additional resources that help clients grow and thrive. The organization attracts public and private resources to Philadelphia to invest in growing businesses and development. PIDC connects businesses, builds relationships, and uncovers opportunities.
Get in Touch with PIDC
Whether you’re a business owner, developer, nonprofit organization, investor, or prospective partner, PIDC offers tailored financing solutions, real estate opportunities, and strategic support services to help move your vision forward.
