by Navy Yard
October 9, 2013
Philadelphia Industrial Development Corporation (PIDC) receives three Gold Excellence in Economic Development Awards from the International Economic Development Council (IEDC) in the categories of Public-Private Partnerships for communities with populations greater than 500,000; Partnerships with Educational Institutions for communities with populations greater than 500,000; and Real Estate Redevelopment & Reuse for communities with populations greater than 500,000.
The honors were presented at an awards ceremony on Tuesday, October 8, during the IEDC Annual Conference, which was held October 6-9, in Philadelphia, PA.
“The Excellence in Economic Development Awards recognize the Philadelphia Industrial Development Corporation as being one of the leading organizations in the industry for innovation, creativity and successful strategies,” said IEDC chair, Paul Krutko. “These awards are meant to honor the organizations and individuals who are dedicated to making a positive change in their communities. PIDC and its partners use creative solutions and inventive ideas, and offer other regions a wonderful example to learn and benefit from.”
Beginning in 1958 as a non-profit joint venture between the City of Philadelphia and the Greater Philadelphia Chamber of Commerce, PIDC is Philadelphia’s economic development corporation. By planning and implementing real estate and financing transactions, PIDC attracts investment to and creates and retains jobs in the City of Philadelphia.
For work in the areas of Public-Private Partnerships and Partnerships with Educational Institutions IEDC recognized PIDC and its partners- the University of Pennsylvania, Penn Medicine, and The Children’s Hospital of Philadelphia (CHOP) on the redevelopment of the City’s former Civic Center into a world-class medical research and treatment center. A joint development agreement between PIDC, Penn, and CHOP signed in 2005 divided the seventeen acres of the Civic Center site to create a central parcel owned by CHOP, flanked by two Penn parcels, and the remaining two acres designated for a jointly developed parking facility. Since 2005, Penn and CHOP have completed over 1.75 million square feet of medical research, clinical, office, outpatient treatment, parking, and ancillary commercial space on the site. Penn’s parcels include The Perelman Center for Advanced Medicine, The Smilow Center for Translational Research, and the Roberts Proton Therapy Center. CHOP’s site includes the Ruth and Tristam Colket, Jr. Translational Research Building and the Buerger Center for Advanced Pediatric Care. An additional one million square feet of space is in active construction and will be completed by 2015.
For work in the area of Real Estate Redevelopment & Reuse IEDC recognized PIDC in its role as master developer of The Navy Yard. The Navy Yard is a 1,200 acre, dynamic urban development, offering the Philadelphia region a unique and centrally-located waterfront business campus committed to smart energy strategies and sustainability. The Navy Yard is home to more than 10,000 employees and 130 companies in the office, industrial/manufacturing, and research and development sectors, occupying 6.5 million square feet of real estate in a mix of historic buildings and new high-performance and LEED® certified construction. PIDC manages all aspects of the property’s management and development, including master planning, leasing, property management, infrastructure development, utility operation, and structuring development transactions. For more information about The Navy Yard, please visit www.navyyard.org.
IEDC’s Excellence in Economic Development Awards recognize the world’s best economic development programs and partnerships, marketing materials, and the year’s most influential leaders. These awards honor organizations and individuals for their efforts in creating positive change in urban, suburban, and rural communities.
About the International Economic Development Council
The International Economic Development Council (IEDC) is a non-profit membership organization serving economic developers. With more than 4,000 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities, by creating, retaining and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members are engaged in the full range of economic development experience. Given the breadth of economic development work, our members are employed in a wide variety of settings including local, state, provincial and federal governments, public private partnerships, chambers of commerce, universities and a variety of other institutions. When we succeed, our members create high-quality jobs, develop vibrant communities, and improve the quality of life in their regions.www.iedconline.org
About Philadelphia Industrial Development Corporation
Beginning in 1958 as a non-profit joint venture between the City of Philadelphia and the Greater Philadelphia Chamber of Commerce, PIDC is Philadelphia’s economic development corporation. In the past 55 years, PIDC has invested more than $11.4 billion in Philadelphia supporting $21 billion of total project costs. Currently managing a diverse loan portfolio in excess of $600 million, PIDC brings years of experience and a wealth of knowledge to structuring real estate and financing transactions that attract investment and create and retain jobs in the City of Philadelphia. PIDC accomplishes this mission by developing and managing public and private resources to leverage even greater investments from a diverse range of governmental, for-profit and non-profit clients throughout all of Philadelphia’s neighborhoods.
This article originally appeared on the PIDC Blog.