PHILADELPHIA, PA — On Thursday, Governor Josh Shapiro announced a landmark $30 million investment in the Philadelphia Navy Yard through the PA SITES program. The funding, part of a new Commonwealth economic development initiative, aims to create shovel-ready sites for advanced manufacturing, life sciences, and commercial use, fostering job creation and economic growth across Pennsylvania.
“When I took office, I made clear that my Administration would be focused on making Pennsylvania more competitive and making us a leader in economic development, job creation, and innovation,” Governor Shapiro stated during the event. “Thanks to the work of the PIDC and the city, business, and economic development leaders, as part of our first round of PA SITES funding, I’m proud to invest in the next stage of the Philadelphia Navy Yard’s success.”
The Navy Yard investment is the largest allocation from the inaugural $64 million in PA SITES grants, which are supporting 11 projects across the state. Developed in consultation with national site selectors, this initiative aims to make Pennsylvania more attractive to businesses by addressing the critical need for ready-to-develop sites. The program is funded as part of the Governor’s $500 million site development initiative included in the 2024-25 state budget.
Supporting Economic Growth
The $30 million will advance the development of 54 acres within the Navy Yard’s Greenway District, preparing parcels for up to 700,000 square feet of construction. The funding will support critical infrastructure improvements, including utilities, grading, and stormwater management, to accommodate advanced industries like life sciences, manufacturing, and research.
“This transformative investment from the Commonwealth’s innovative new PA SITES program strengthens the Navy Yard’s role as a powerful engine of job creation and economic growth throughout Philadelphia and Pennsylvania,” said Jodie Harris, President of PIDC.
Over the past two decades, the Navy Yard has evolved into a major business hub, currently supporting over 150 companies and 16,000 workers. The new development marks a significant step toward doubling its employment base to 30,000 jobs at full buildout.
Partnership and Vision
Developers Ensemble Investments and Mosaic Development Partners, in collaboration with PIDC, are spearheading the transformation under a 20-year master plan. The project includes 8 million square feet of new LEED-certified buildings and infrastructure to support advanced industries, neighborhoods, and public spaces. This initiative also builds on PIDC’s mission of equitable growth by driving private investment and fostering inclusion.
Mark Seltzer, Managing Director of Ensemble Investments, underlined the significance of the funding, stating, “This vital support from the Commonwealth builds on the Navy Yard’s existing momentum and provides the opportunity to continue attracting leading-edge companies and institutions to the Navy Yard and position Philadelphia and Pennsylvania as a national hub for advanced industries.”
A Pivotal Step Forward
With $2 billion of investment and decades of strategic planning, the Navy Yard’s redevelopment showcases Pennsylvania’s commitment to driving innovation and economic success. This investment not only secures the Navy Yard’s future as a hub for high-value industries but also lays a foundation for long-term opportunity and inclusive growth.
The PA SITES program signifies Governor Shapiro’s ambition to position Pennsylvania as a national leader in economic development, ensuring the state competes effectively in a rapidly evolving global economy. With additional projects in the pipeline, Pennsylvania’s vision for sustainable growth and innovation shows no signs of slowing.
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