million investment announced for Navy Yard company expected to create 450 new jobs in South Philadelphia.
In a notable economic development initiative announced the day before Independence Day, Governor Josh Shapiro emphasized themes of freedom and national security at the Philadelphia Navy Yard. The state will support Rhoads Industries, a fabrication, installation, and maintenance company, with nearly 0 million earmarked for a new 95,000-square-foot manufacturing facility. This investment aims to enhance the company’s operations, particularly in the production and outfitting of U.S. Navy submarines, and will create a direct shipping route for barge shipments through an adjacent pier.
The state’s involvement includes a million grant from the Redevelopment Assistance Capital Program, contributing to a broader investment strategy at the site. The project is projected to create over 450 new jobs and retain 541 existing positions, as noted by Shapiro’s office. The governor expressed the significance of such developments, indicating that partnerships with industries like Rhoads Industries help safeguard American interests and uphold the nation’s values amid emerging global challenges.
In total, Rhoads Industries has received more than million in state support over the past decade, benefiting further from tax advantages due to its presence in an opportunity zone. Shapiro articulated a commitment to fostering local talent through initiatives such as a “school-to-shipyard pipeline,” which provides paid apprenticeships for high school technical education graduates, helping young individuals find rewarding career paths outside traditional college routes.
The anticipated economic impact from this endeavor includes an additional million in projected payroll, a figure highlighted by Gregory Deavens, chair of the Greater Philadelphia Chamber of Commerce, who characterized the investment as transformative for the region.
This announcement comes amidst ongoing budget negotiations in Harrisburg, where Shapiro called for compromise among a divided legislature. The discussions aim to address various sectors, including education, public safety, and transportation funding, in light of recent funding deadlines and challenges.
Shapiro’s visit to the Navy Yard aligns with previous announcements regarding significant state investments, including million designated for the development of the Philadelphia Navy Yard Greenway District, which aims to promote manufacturing and life sciences. Pointing to future opportunities for growth, the governor expressed optimism for the entirety of the waterfront area and its potential.
Recent trends indicate a robust industrial presence at the Navy Yard, which houses more than 150 employers and approximately 15,000 jobs. Other companies, including Korean shipbuilder Hanwha, have also announced plans for expanded investments in the region. The governor’s remarks further extended to Pennsylvania’s collaboration with tech giant Amazon, which is set to invest billion in artificial intelligence data centers across the state—an endeavor Shapiro believes is vital for national security.
As these developments unfold, political leaders stress the importance of connecting youth with meaningful employment opportunities, asserting that equipping young workers with practical skills can effectively contribute to reducing crime and nurturing prosperous communities throughout Pennsylvania. This sentiment was echoed prominently by Philadelphia Rep. Jordan Harris, who underscored the necessity of creating pathways to high-wage jobs across the Commonwealth.
Overall, the initiatives at the Navy Yard not only bolster local economic growth but also reflect a strategic vision for enhancing national defense capabilities through industrial partnerships.
