The Navy Yard is a modern, sustainable, urban campus that arose from the ashes of the former Philadelphia Naval Shipyard. PIDC is the master developer for The Navy Yard, where more than $1 billion has been invested creating a vibrant, waterfront home for over 11,000 employees and more than 145 companies in the office, industrial/manufacturing, and R&D sectors, occupying nearly 7 million square feet of real estate in a mix of historic, renovated buildings and new high-performance and LEED certified construction.
Since its inception, PIDC has managed the City's industrial land inventory, acquiring, improving and selling more than 2,800 acres of land in 18 industrial parks throughout the city.
PIDC is building on its 55 year history of developing innovative strategies for attracting and deploying capital to support business growth and development throughout Philadelphia.
PIDC is proud to bring together the public and private resources that businesses and developers need to turn their big ideas into projects that attract investment, create jobs and improve our city for all who live, work, and visit here.
The Philadelphia Regional Center, a partnership established in 2003 between PIDC and CanAm Enterprises, LLC (CanAm), was created to sponsor investment opportunities in qualifying projects that meet the requirements of the U.S. Immigration Investor Program (EB-5 Program).
Since 2007, PIDC has been awarded $148 million in New Markets Tax Credit (NMTC) allocation from the federal government, which is aimed at revitalizing low-income communities and increasing economic opportunity nationwide.
Through PIDC, the public sector provided a combination of grant and low-interest debt funding to six of the twenty-four projects (25%) that focused on seeding the larger, historic renovation projects first developed around the PCC.
In University City, PIDC partnered with The University of Pennsylvania and The Children’s Hospital of Philadelphia in converting the former Civic Center and Philadelphia General Hospital complex into a 2.75million square foot state-of-the-art campus of hospitals, healthcare facilities and research centers in one of the world’s leading medical communities.
Drawing on our decades of successful economic development lending, PIDC has developed specialized software to track administer each loan we authorize.