The Philadelphia Naval Shipyard (PNSY) was the country’s first naval shipyard. The origins of The Navy Yard date back to the founding of the country in 1776, when the Continental Congress leased land along Philadelphia’s Front Street docks to support the new nation’s fledgling Navy. The site became an official part of the United States Navy in 1801, but was moved to its current location around the time of the Civil War, on South Broad Street.
Over the ensuing years, Philadelphia Naval Shipyard became a vital part of the Navy’s logistical and industrial infrastructure. Many of the Navy’s most significant technological advances and historic ships were produced right here in Philadelphia.
Due to shifting requirements, the Base Realignment and Closure (BRAC) announcements of 1991 and 1995 brought the closure of nearly all naval activities at the Naval Shipyard. The only Navy facilities that remained after the 1995 BRAC were Naval Ship Systems Engineering Station (NAVSSES), the Propeller Shop and Foundry, and the Naval Inactive Ship Maintenance Facility, all which remain in operations to this day.
Today, The Navy Yard is a thriving 1,200 acre business campus with 143 companies occupying more than 6.5 million square feet of office, industrial/manufacturing, and research and development space. In its new form, The Navy Yard has reemerged as one of the region’s most important centers of employment as it attracts new businesses and investment to Philadelphia. Since 2000, when the Philadelphia Authority for Industrial Development acquired 1,000 acres on behalf of the City of Philadelphia, more than $130 million in publicly funded infrastructure improvements has leveraged in excess of $700 million in new private investment.