U.S. Department of Commerce Invests $3 Million to Improve Access to the Philadelphia Navy Yards Business Campus
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the Philadelphia Authority for Industrial Development, Philadelphia, Pennsylvania, to make critical infrastructure improvements needed to ease access to the Philadelphia Navy Yards business campus. According to grantee estimates, the project is expected to create 1,354 jobs, retain 84 jobs and spur $76 million in private investment.
“The Trump Administration is committed not only to retaining jobs in this country, but also to rebuilding the infrastructure American success relies on,” said Secretary of Commerce Wilbur Ross. “The Philadelphia Navy Yards complex is an important center for entrepreneurship and industry in the region and this investment will spur additional economic growth for Pennsylvania.”
“I’m pleased to see the Economic Development Administration investing in Pennsylvania,” said U.S. Senator Bob Casey. “This grant has the potential help create jobs, promote innovation and stimulate economic growth in the region. By investing in Pennsylvania’s infrastructure, we are investing in the Nation’s future.”
“The Navy Yard has the potential to become one of the largest employment hubs and economic drivers of our region,” said Congresswoman Mary Gay Scanlon (PA-05). “However, it is essential that we provide necessary infrastructure to support that development. This investment from the Department of Commerce will ensure access to the Navy Yard by upgrading the quay.”
The Navy Yard serves as headquarters for several large international manufacturing corporations as well as many start-ups and entrepreneurial companies. This investment will support the reconstruction of the quay wall along Broad Street, which is the main point of access for the Navy Yard.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.