National Defense Industrial Association & Philadelphia Works. Regional Engagement Meeting Friday, July 8, 2016

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1 National Defense Industrial Association & Philadelphia Works Regional Engagement Meeting Friday, July 8, 2016

2 PIDC OVERVIEW Our mission is to spur investments, support business growth, and foster developments to create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. To achieve our mission we attract, manage, and invest public and private resources in the clients, communities, and markets that energize Philadelphia s economy. 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. Over the past 58 years, PIDC has settled over 6,700 transactions including $14 billion of financing and 3,100 acres of land sales which have leveraged over $25 billion in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia.

3 PARTNERSHIP In support of our clients, PIDC collaborates with the City, the Chamber, the Commonwealth of Pennsylvania, the Federal Government, and other partners to develop and promote a comprehensive set of economic development tools including: Tax Credit and Abatement Programs Workforce Training Streamlined Permitting, Planning and Development Process

4 REAL ESTATE PIDC acquires, improves, plans, manages, leases, and sells real estate to support the next wave of industrial and commercial activity in Philadelphia. FINANCING PIDC offers a wide range of loans, taxexempt financing, and technical assistance to businesses, developers, and non-profits of all shapes and sizes. KNOWLEDGE & NETWORKS PIDC brings together the public and private sectors in order to energize growth. We build relationships with clients and partners who are dedicated to Philadelphia s success.

5 WHO WE SERVE 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 including: Small businesses Women and minority-owned businesses Manufacturing and industrial Non-profits including arts and culture; education and health care; and neighborhood and community services Corporate and commercial development Technology-based businesses

6 PIDC 2015 ACTIVITY HIGHLIGHTS

7 REAL ESTATE SERVICES OVERVIEW Navy Yard: 1,200-acre mixed-use property 6.5 million SF of occupied space Over 150 companies and 12,000 employees Industrial Land Management & Planning: Acquired, improved, and sold more than 3,000 acres of land in 18 industrial parks Manage 230 acres of available land in 9 industrial parks Master plan to transform the 4,100 acre Lower Schuylkill River District Public Private Development: Manage the redevelopment of key parcels and buildings owned by the City of Philadelphia

8 PRODUCTS & SERVICES PIDC offers a broad range of products designed to catalyze economic development in Philadelphia FINANCIAL SERVICES Business Lending Working Capital & Equipment Loan Capital Project Loan Contract Line of Credit Project Development Finance Bridge Loan Subordinate Term Loan Welcome Fund (EB-5) Tax Advantaged Financing New Markets Tax Credit (NMTC) Tax Exempt Bond Program Tax Increment Financing (TIF) Grants Administration Conduit for local, state, and federal grants

9 BUSINESS LENDING PRODUCTS Working Capital & Equipment Loan Support small and midsize businesses which need term financing for working capital, equipment, or leasehold improvement projects to support their growth. Terms: 5-7 years 6.25% (cost+) First position lien on assets Personal guarantees In Loans $4M Mama s Wellness Joint The Tactile Group Consolidated Drake Press Vahle s Pet Stuff- Accent on Animals

10 BUSINESS LENDING PRODUCTS Contract Line of Credit BFW Group In Loans $7.8M Support small, minority, women, disabled and non-profit businesses which need a line of credit to fund contract-related working capital. Particularly government and institutional contracts. Community Marketing Concepts DKJ Construction Terms Sliding interest rate scale from 2.75%-6.25% Secured by assignment of contract Typical security also includes personal guarantees May include other collateral if necessary

11 BUSINESS LENDING PRODUCTS Capital Project Loan Support businesses undertaking capital projects such as building acquisition, renovation, leasehold improvements or equipment which need additional financing to complete the project. Terms Subordinate lien position Matching term of first mortgage Potential for subsidized interest Typically funded with public sources of capital Replica Creative John Pomp Studios Spare Time, Inc. In Dragon 18 Loans $13.9M Cashman & Associates

12 SMALL BUSINESS LENDING IMPACT During , PIDC s Investments: INCREASED ACCESS TO CAPITAL FOR SMALL BUSINESSES Provided 216 small businesses with over $68.5 million in financing 60% of our small businesses were located in very low income communities Almost 40% of our clients were minority-owned businesses and over 20% were woman-owned businesses Created or retained more than 5,930 jobs HELPED SMALL BUSINESSES GROW Almost 60% of our borrowers increased their credit score Half of our borrowers increased their net income

13 SUPPORT FOR GROWING BUSINESSES Technical Assistance Monthly 1-on-1 Application Assistance 52 workshops with 800 attendees since 2013 Managing Your Cash flow Your Personal Credit for Business Growth 4-part series on the Construction Industry Expanding networking opportunities Business-Business Broader networks across the city CEO Mentoring PIDCphila.com/events

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