Reports to: Vice President, Product and Resource Development
Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods and drive growth to every corner of Philadelphia. We offer flexible financing tools, a targeted portfolio of industrial and commercial real estate, and decades of Philadelphia-based knowledge to help our clients invest, develop and grow. PIDC works with companies of all sizes in every area of Philadelphia. We work on projects big and small with businesses, developers and non-profits in every sector.
Over the past 60 years, PIDC has settled over 7,150 transactions with a diverse range of clients – including more than $16 billion of financing and more than 3,200 acres of land sales – which have leveraged over $28.6 billion in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia. Its direct loan and managed third-party portfolio at year-end 2017 was more than $545 million, representing 475 loans.
PIDC’s Strategy, Communications, and Partnerships group is seeking an individual with superior analytical and critical thinking skills to assist with the specific projects detailed below, as well as general departmental responsibilities or projects. Candidates must have strong quantitative abilities and excellent writing skills. Candidates should have relevant education, experience, and a high level of interest in finance, economic development, or community development.
- Capitalization Projects
- Develop and update profile sheets for corporate, philanthropic, and public funding opportunities from a broad range of national, regional, and local investors
- Identify potential sources of funds to capitalize PIDC’s technical assistance programs and create a short report outlining best practice findings
- Partner with PIDC’s Financial Reporting department to update PIDC’s tracking system for financial covenants and reporting requirements for investors
- Assist in the preparation of funding applications to the US Department of Treasury’s CDFI Fund (i.e. Financial Assistance and New Markets Tax Credit programs) as well as any other funding opportunities.
- Conduct research into topics such the Federal Home Loan Bank programs, CDFI Bond Guarantee Program, and impact investing.
- Impact Data Project
PIDC is interested in expanding our ability to track the outputs, outcomes, and impact of our financing programs. Potential projects include:
- Update dashboards and charts for PIDC’s small business and project finance lending activity
- Conduct a “best practices” review of comparable organizations and the impact metrics these organizations use to evaluate their products
- Compile a list of outputs, outcomes, and impacts based on the “best practices” review, conversations with PIDC staff, and general research.
- Special Initiatives
Provide project management support for special initiatives including, but not limited to, developing a Capital Access Plan for Southwest Philadelphia and helping SCP craft a strategy around Opportunity Zones, a new federal tax incentives
- AERIS Rating
Assist in the preparation of documents for PIDC Community Capital’s annual AERIS rating.
- Product Development
Support the implementation of several new financial products including: Commercial Mortgage loans, Flexible Real Estate loans, and the Impact Development Fund.
- Undergraduate student with relevant work experience and/or coursework in finance, economics, economic/community development, or policy.
- Excellent quantitative and analytical skills.
- Strong research and analytical skills including a high level of competency with spreadsheets, databases, power point, word processing, and e-mail applications.
- Detail oriented and highly organized.
- Passion for the city of Philadelphia and enthusiasm for PIDC’s mission to help businesses and non-profit organizations create and retain jobs in Philadelphia.
- Flexibility and willingness to pitch in to support various projects, tasks, initiatives, and events as needs arise.
- Efficiency and productivity, with a results-oriented mindset.
Interested intern applicants should submit a cover letter and resume electronically to the contact info below.
April 5, 2019
PIDC promotes a culture of inclusion and does not discriminate on the basis of race, color, sex, sexual orientation, religion, national or ethnic origin, age, disability, veteran status or any other legally protected factor.