Entries by PIDCphila

MUNICIPAL BOND ISSUANCE INCREASES IN 2012

As of May 1, 2012, long-term municipal bond volume has increased over 70% as compared to the same period during 2011.  One significant driver of 2012 volume is an increase of state and local governments as well as non-profits refinancing outstanding bonds for debt service savings.  Refundings constitute 65% of the year-to-date 2012 municipal issuance […]

NAVY YARD PARTNERSHIP CREATES BIO DIESEL FUEL

The Sustainability Workshop, sponsored by the Energy Efficient Buildings Hub (EEB Hub) and located at Quarters A at The Navy Yard, is a place for students to come together to learn and solve “real world” problems around sustainability and energy efficiency.  Throughout its inaugural year, students formed groups to work on a variety of projects. […]

PHILADELPHIA: SMART CITY. SMART CHOICE FOR HOTEL INVESTMENT

PIDC and the Philadelphia Convention and Visitors Bureau (PCVB) recently released an updated report on Philadelphia:  Smart City. Smart Choice for Hotel Development.   This report outlines the hotel and convention market dynamics and history in Philadelphia and provides an overview of the many ways in which the City of Philadelphia and PIDC are supporting continued investment in […]

PIDC CLEANS UP BARTRAM’S GARDEN

On May 1, PIDC staff joined local, environmentally friendly apparel company United by Blue for their monthly clean up at Bartram’s Garden. Nearly 50 PIDC volunteers trekked along the Lower Schuylkill River collecting over 25 bags of trash and large objects weighing in at a total of 773 pounds. Some fun finds included a fortune […]

PIDC THANKS OUR 2011 CLIENTS AND RELEASES ANNUAL REVIEW

PIDC is thrilled to share its 2011 Annual Review, which highlights many of the exciting client projects that PIDC supported throughout the year. This was a special project that took a lot of dedication, care, and team work – like everything PIDC does! In 2011, PIDC closed 180 transactions, investing $555 million with total project […]

PIDC IS CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI)

PIDC is happy to announce that, as of April, PIDC-Regional Development Corporation (PIDC-RDC) was certified as a community development financial institution (CDFI) by the U.S. Treasury’s Community Development Financial Institutions Fund (the CDFI Fund).  PIDC-RDC is a non-profit subsidiary created by PIDC to attract public, private, and philanthropic capital for targeted community lending and development […]

GPIC CHANGES NAME TO ENERGY EFFICIENT BUILDINGS HUB

On May 1, The Greater Philadelphia Innovation Cluster for Energy Efficient Buildings (GPIC) became the Energy Efficient Buildings Hub (EEB Hub).  The EEB Hub is focused on reducing energy consumption in the commercial building sector by 20 percent by 2020 through informed people, validated information, and proven technologies. With a more focused brand identity, the […]

LOWER SCHUYLKILL RIVER MASTER PLAN UNDERWAY

The City of Philadelphia and PIDC are developing a Master Plan for the 4,100 acre Lower Schuylkill River, an area which has the potential to accommodate the next generation of industrial and commercial activity in Philadelphia.  The Master Plan, to be completed in Fall 2012, will provide vision and guidance that is intended to leverage […]

PIDC AWARDED $50 MILLION IN NEW MARKETS TAX CREDITS

Mayor Michael A. Nutter and PIDC president John Grady recently announced that PIDC received $50 million in New Market Tax Credits (NMTC) through the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund. These federal tax credits are utilized to spur private sector investment in targeted neighborhoods throughout the country. Nationally, the U.S. Treasury Department […]

PIDC FINANCES THREE SMALL BUSINESSES WITH NEW FEDERAL FUNDING

PIDC recently approved low-interest loans to three growing hospitality and specialty food businesses in Philadelphia using new funds it received from the Small Business Administration (SBA) through the Intermediary Lending Program (ILP).  PIDC was selected by the SBA as one of only 20 lending organizations across the nation to participate in the ILP program and […]