Thursday, February 23, 2012

$50 Million to Philadelphia Industrial Development Corp.

from the inbox:

U.S. Rep. Allyson Schwartz joined Philadelphia Mayor Michael A. Nutter and John Grady, President of Philadelphia Industrial Development Corporation (PIDC) today to announce that PIDC will receive $50 million through the New Markets Tax Credit (NMTC) program to spur private sector investment in low and moderate income neighborhoods. Schwartz urged the U.S. Department of Treasury to support this request for PIDC.
PIDC intends to use its NMTC funding to support four main types of investments: supermarket anchored shopping centers, health care services facilities, manufacturing space, and mixed-use developments.

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