2021 Annual Review

AT THE BEGINNING OF 2021

PIDC set forth six strategic priorities to guide our work. At the top of those priorities is a commitment to playing a leadership role in Philadelphia’s economic recovery and deploying PIDC’s resources across all that we do – lending, business support services, real estate activity, and leveraging our own purchasing power—in ways that address racial inequity and poverty in Philadelphia.

Here is a summary of ways in which PIDC supported business growth, community revitalization, and inclusive growth throughout 2021.

2021 BY THE NUMBERS

2,035

Transactions

40 Acres

Land Sales City-wide

$725.5M

Financing

$29.5M

COVID-19 Relief Grants & Loans

100%

Zip Codes Received Investments

PIDC continued to drive growth to every corner of Philadelphia—closing 2,035 transactions in 100% of the city’s zip codes in 2021. To achieve our mission, we focused on three core strategies:

1.

Support Growth & Resilience of Businesses

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2.

Invest in High-impact Community Revitalization

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3.

Catalyze Opportunities for Inclusive Growth

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PIDC is a nonprofit partnership founded in 1958 by the City of Philadelphia and the Chamber of Commerce for Greater Philadelphia. Over the past 64 years, PIDC has settled over 13,000 transactions with a diverse range of clients, including more than $18.5 billion of financing and more than 3,350 acres of land sales, which have leveraged tens of billions of dollars in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia.

PIDC manages a family of organizations to accomplish our mission including our affiliated companies, PIDC Community Capital a 501(c)(3) nonprofit and certified CDFI created to attract resources with a particular focus on community lending and business support services in underserved, low-income neighborhoods, and Philadelphia Authority for Industrial Development (PAID)a public authority delivering real estate services, tax-exempt financing, state grant funding, and City grant funding.

2021 BOARD MEMBERS

PIDC BOARD OF DIRECTORS*

Chairperson
Salvatore J. Patti
WSFS Bank

Vice Chairperson
Andrea Allon
The Chamber of Commerce for Greater Philadelphia

Members
Tumar Alexander
City of Philadelphia

Terry Booker
Axis Partners

Kevin R. Boyle
Stradley Ronon Stevens & Young, LLP

Craig R. Carnaroli
University of Pennsylvania

Dominique Casimir
Thomas Jefferson University

Diana P. Cortes, Esq.
City of Philadelphia

Fred Cosenza
Building and Construction Trades Council, ALF-CIO

Rob Dubow
City of Philadelphia

Anne Fadullon
City of Philadelphia

Reginald C. Fuller III
Fulton Bank

Jay Goldstein
Spring Garden Lending

Lee Huang
Econsult Solutions, Inc.

Honorable Kenyatta Johnson
Philadelphia City Council

Honorable Curtis Jones, Jr.
Philadelphia City Council

LeRoy Jones
EREflow

Brian T. Keech
Drexel University

Honorable Jim Kenney
Mayor of Philadelphia

Jennifer L. Maher, Esq.
1776

Suzanne S. Mayes, Esq.
Cozen O’Connor

Elizabeth Murphy
PECO Energy Company

Anne K. Nadol
Temple University

Michael K. Pearson
Iron Stone Real Estate Partners

Bret Perkins
Comcast Corporation

Angelo R. Perryman
Perryman Building & Construction Services Inc.

William R. Sautter
Elliott Lewis Corporation

Evelyn F. Smalls
United Bank of Philadelphia

Robert C. Wonderling
The Chamber of Commerce for Greater Philadelphia

PIDC COMMUNITY CAPITAL BOARD OF DIRECTORS*

Chairperson
Salvatore J. Patti
WSFS Bank

Secretary
Terry Booker
Independence Blue Cross

Members
Andrea R. Allon
The Chamber of Commerce for Greater Philadelphia

Jay R. Goldstein
Spring Garden Lending

Evelyn F. Smalls
United Bank of Philadelphia

PAID BOARD OF DIRECTORS*

Chairperson
Evelyn F. Smalls
United Bank of Philadelphia

Vice Chairperson
David L. Hyman, Esq.
Kleinbard, LLP

Treasurer
Thomas A.K. Queenan
PIDC

Secretary
Malcolm J. Ingram
Greenberg Traurig, LLP

Members
Christina Wong
ComcastNBC10, Telemundo62

*as of December 2021

WELCOME TO OUR 2021 INVESTORS!

In 2021, PIDC successfully raised more than $9.3M to invest needed resources in the areas of small businesses support and growth, equitable neighborhood and workforce development, regional planning efforts, and more.

THANK YOU TO OUR INVESTORS:

Learn more:

1. SUPPORT GROWTH & RESILIENCE OF BUSINESS

We are Philadelphia’s public-private economic development corporation. PIDC spurs investments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. PIDC is a non-profit founded by the City of Philadelphia and the Greater Philadelphia Chamber of Commerce in 1958.