Last Thursday, City Council observed the 30th Anniversary of the Office of Economic Opportunity (OEO). Created by City Council Ordinance in 1983, the Office of Economic Opportunity (OEO) “promotes the economic development of M/W/DSBEs through its registration program; contract review and monitoring activities; as well as ongoing interaction with other City departments, quasi-public agencies and the local marketplace.”
PIDC works with OEO to develop participation goals whenever we bid any of our capital projects or when we solicit professional services for economic development activities. We believe that part of growing the Philadelphia economy is growing the participation of all of our citizens in that economy.
PIDC also develops innovative financing programs for small, emerging businesses, many of which are owned by minorities, woman, and the disabled. The Emerging Business Loan Program and Emerging Business Guarantee Programs specifically target this segment of the market. For a fuller description of the programs, please take a look at our website.
Just as PIDC Vice President Marla Hamilton proudly stood next to the founders of OEO at last week’s Council session, PIDC is proud to stand with the City and with all of our emerging business clients as we work to make Philadelphia’s economy a model for diversity and inclusion.