Title
Honoring and recognizing the Philadelphia Industrial Development Corporation on the occasion of the organization's 60th Anniversary.
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WHEREAS, The Philadelphia Industrial Development Corporation (PIDC) was founded jointly by the City of Philadelphia and the Greater Philadelphia Chamber of Commerce in 1958. With a mission to spur business growth, create jobs, and foster neighborhood revitalization efforts, PIDC has played a major role in the City's economic development for the past 60 years; and
WHEREAS, PIDC, through its financing arm, the Philadelphia Authority for Industrial Development, has been a major financial supporter for businesses across the City of Philadelphia. Having invested nearly $14 billion in support of $25 billion of total project costs, PIDC has developed a wealth of expertise in leveraging its loans to create a major economic impact in the City of Philadelphia; and
WHEREAS, PIDC Community Capital, established in 1997, is a certified community development financial institution that invests in high impact projects in disadvantaged communities. PIDC Community Capital provides financial and technical support for small and growing businesses and seeks to enhance economic opportunity in these underserved areas; and
WHEREAS, PIDC's real estate management expertise has allowed the agency to play a key role in managing and redeveloping major industrial sites throughout the City, helping to bring many of Philadelphia's formerly abandoned industrial zones back into productive use; and
WHEREAS, Among the agencies many success stories, in 2014 PIDC was able to facilitate the expansion of the Dietz and Watson headquarters in the Tacony section of Northeast Philadelphia. This partnership allowed Dietz and Watson to bring a new distribution center, and the jobs needed to support it, to its expanded corporate campus in the City of Philadelphia; and
WHEREAS, The ongoing transformation of the Philadelphia Navy Yard, with its gro...
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