John Grady is privy to a lot of secrets. As President of PIDC, the Philadelphia Industrial Development Corporation, he is often one of the first to know about companies that are relocating to or staying in the city.
That is a key topic Grady will be discussing when he appears as JBN’s guest speaker on July 16 at noon, 1515 Market Street Room 222.
Take for instance the case of Dietz and Watson. “We were so thrilled that Dietz and Watson decided not only to stay in Philadelphia but to expand. New Jersey was wooing them but they opted to purchase 20 additional acres and will be investing 50 million dollars in the local economy” said Grady.
Grady was not so pleased about the outcome with the Philadelphia 76ers who chose to move the team’s practice facility to the Garden State. “That’s one that got away” lamented Grady, “I wish we could have offered them more and changed the result”.
On a more upbeat note Grady is excited about PIDC’s plan to offer small businesses more opportunities to qualify for loans. Grady explained, “We want to double the amount of our loans. Currently we are lending between $20-$25 million and would like to increase the number to $50 million. We believe that will be of great interest to many JBN members, and I would like to tell them how they can take advantage”.
Grady has been President of PIDC for the past three years. His proudest achievement is the revitalization of the Navy Yard which will soon include a residential component. PIDC is a partnership between the Greater Philadelphia Chamber of Commerce and the city of Philadelphia. Its stated aim is to promote the economic development throughout the city.