by Charlotte Merrick
September 29, 2025
PIDC, elected officials, and business and civic leaders gathered to recognize a quarter-century of job creation and economic impact at The Navy Yard as one of the nation’s most successful redevelopment projects enters its next chapter
Note for Media: Photos of the event can be downloaded for publication HERE.
The new documentary, Legacy & Horizon: 25 Years of Transformation, can be viewed online at NavyYard.org/25thDocumentary as new episodes are released.
PHILADELPHIA — Nearly three decades after the closure of the historic Philadelphia Naval Shipyard, The Navy Yard is now home to more than 16,000 jobs and $2.8 billion in investment — surpassing its employment at the time of closure and standing as one of the most successful base redevelopments in the nation. Today, PIDC — Philadelphia’s public-private economic development partner — joined by elected officials, business leaders, and development partners, marked this milestone at URBN’s headquarters to celebrate this milestone and announce the launch of Legacy & Horizon: 25 Years of Transformation, a new documentary chronicling the Navy Yard’s extraordinary comeback.
The Navy Yard is now home to 150 companies across industries including biotechnology, shipbuilding, advanced manufacturing, and professional services. With the next phase of development underway, at full build-out, the 1,200-acre campus is projected to support 30,000 jobs, $6 billion in investment, and up to 8,000 residents, cementing its future as Philadelphia’s newest neighborhood.
“Over the past two decades, the Philadelphia Navy Yard has become a key economic driver for the Commonwealth — transforming from a shuttered military base into a thriving hub for international trade, life sciences, and manufacturing,” said Governor Josh Shapiro. “I have been proud to invest in the Navy Yard’s continued success, and as part of our first round of PA SITES funding, my Administration directed $30 million to ensure this key asset along the Philadelphia waterfront is shovel-ready to compete for businesses and good-paying jobs. Working in partnership with the PIDC, the City of Philadelphia, business leaders, and our unions, we are laying the groundwork to attract companies, strengthen communities, and make sure Pennsylvania is ready to compete — and win — in today’s economy.”
Recent milestones underscore this momentum: Hanwha Philly Shipyard is embarking on a $5 billion plan to expand the shipyard, while Rhoads Industries has pledged $100 million in new investments to support critical new work with the Navy. Ensemble/Mosaic, PIDC’s lead development partner, has already delivered state-of-the-art life sciences facilities and is preparing The Navy Yard for its next phase as a 24/7 “Live, Work, Play, Stay” community.
“I want to congratulate PIDC on 25 years of transformation at The Navy Yard,” said Mayor Cherelle L. Parker. “What makes this milestone even more meaningful is that The Navy Yard’s workforce truly reflects Philadelphia. Of the 16,000 employees, one-third are in roles that don’t require a college degree, while two-thirds are in positions that call for some college experience or a degree. That means opportunity at The Navy Yard is open to all Philadelphians — whether you’re just starting your career, looking to grow your skills, or bringing advanced training to a cutting-edge field. This is what advancing economic growth for all looks like, and I’m excited for the next 25 years of possibility.”
The new documentary, Legacy & Horizon: 25 Years of Transformation, tells the story of The Navy Yard’s historic transformation through the voices of the leaders, visionaries, and community members who shaped its evolution. The first episode is now available online at NavyYard.org/25thDocumentary, with four more to be released through the end of the year.
“Having been born and raised in South Philadelphia, I am deeply rooted in this community,” said Philadelphia City Council President Kenyatta Johnson, whose Second Council District includes the Navy Yard. “Witnessing the transformation of The Navy Yard from a place of loss — folks out of work, buildings falling apart — to a growing campus where jobs are created, career paths are forged, and companies expand has been extremely gratifying as the representative of the Second Councilmanic District. I am proud to work in partnership with PIDC and all of the businesses here to build on what we’ve accomplished and bring more economic growth, stronger commerce, and better jobs.”
“The Navy Yard is proof of what’s possible when vision meets collaboration,” said Jodie Harris, President of PIDC. “Twenty-five years ago, this site symbolized loss and uncertainty. Today, it represents resilience, innovation, and economic opportunity. Through strong public-private partnerships, we’ve created a hub where global companies thrive alongside local businesses, and where opportunity is open to people of every background and skill level. And we’re not done — The Navy Yard’s next chapter will bring thousands more jobs, new homes, and vibrant public spaces that ensure this community continues to serve as a model for redevelopment across the nation.”
The Navy Yard’s next chapter includes not only continued commercial expansion but also welcoming its first residents since the base closed, positioning the site as Philadelphia’s newest neighborhood. At full build out, The Navy Yard will have upwards of 8,000 residents in this community.
“We are proud to partner with PIDC to lead The Navy Yard into its next phase of redevelopment,” said Brian Cohen, Managing Director of Ensemble Investments. “Our goal goes beyond constructing buildings — we are helping to create a vibrant neighborhood where people can live, work, and connect. Together, we’re shaping a community that welcomes residents, supports businesses, and offers opportunities for all who come here to thrive.”
View the new documentary, Legacy & Horizon: 25 Years of Transformation at NavyYard.org/25thDocumentary.
###
About PIDC
PIDC is Philadelphia’s citywide public-private economic development corporation, founded in 1958 by the City of Philadelphia and the Chamber of Commerce for Greater Philadelphia. As a nonprofit, PIDC drives investment, supports business growth, and fosters developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia
We advance this mission through a wide range of financing solutions, real estate services, and business support programs. Over 65+ years, PIDC has completed more than 13,500 transactions, delivering nearly $21 billion in financing and 3,400+ acres of land sales. These investments have helped retain and create hundreds of thousands of jobs in Philadelphia, leveraging tens of billions in total economic impact. As of year-end 2024, PIDC managed a direct loan and third-party portfolio exceeding $522 million across 548 loans and a 135-acre publicly-controlled industrial land inventory.
PIDC is also the master developer of the Philadelphia Navy Yard, leading its planning, development, and operations. Today, The Navy Yard is a thriving 1,200-acre campus with 150 employers, 16,000 workers, and eight million square feet of mixed-use facilities.
For more information about PIDC, visit PIDCphila.com and follow us at @PIDCphila on X, Facebook, and LinkedIn. For more information about The Navy Yard, visit NavyYard.org and follow us at @NavyYardPhila on Instagram, Facebook, and LinkedIn.