PIDC offers a broad range of financing incentives through its Financing Group, including below-market loans, grants, and tax-exempt financing designed to encourage economic growth in the City of Philadelphia.
Generally, financing is targeted to capital projects (building acquisition and renovation, new construction, machinery and equipment) that retain or grow employment in Philadelphia where the borrower is not otherwise able to fully fund the project with private-sector debt and equity.
Incentives are capitalized by federal, state and local governmental resources, as well as private sector funds, and are available to for-profit and non-profit corporations both small and large.
Loans PIDC initiates loans ranging from $75,000 to as much as $100 million on below-market terms that include low interest rates, extended terms, or subordination to senior private financing.
Loan amounts are generally determined based on the number of jobs to be created by a project and limited to no more than 40% of total project coSt. In addition to financing of capital improvement projects, financing products include working capital and loan guarantees for smaller emerging companies, bridge loans for public grant programs, and capital for projects that promote sustainable green building practices.
Grants PIDC is a conduit for a variety of grant programs funded at the federal, state or local level of government that are primarily available to non-profit corporations for capital improvement projects or for publicly-owned infrastructure.
Tax-Exempt Financing PIDC manages the Philadelphia Authority for Industrial Development (PAID), which issues tax-exempt financing on a non-recourse basis for eligible non-profit and manufacturing borrowers in Philadelphia.
Philadelphia Industrial Development Corp
Address: 2600 Centre Square West