Philadelphia Industrial Development Corporation

Philadelphia Industrial Development Corporation (PIDC) is an economic development agency based in Philadelphia, Pennsylvania. Established in 1958, the agency aims at leveraging finance and real estate resources to retain and to grow employment in Philadelphia. The agency mainly acquires and sells industrial and commercial properties. The agency was established by the City of Philadelphia and the Greater Philadelphia Chamber of Commerce to promote economic development throughout the city. The assets of the firm are managed by a thirty-member board of directors.Philadelphia Industrial Development's investment portfolio is valued at $66.71 million, with investments in private equity and cash.