by Navy Yard
June 17, 2025
PIDC, in collaboration with development partner Ensemble/Mosaic, took major steps in 2024 to advance its bold vision for the future of the Navy Yard. From breaking ground on new residential buildings, to welcoming new companies such as BioMerieux and Comcast, to celebrating major infrastructure upgrades, the year was filled with meaningful progress. Today, the Navy Yard is home to over 150 businesses and 16,500 employees, with plans well underway to double employment over the next 20 years and attract $6 billion in new investment.
Let’s take a closer look at what made 2024 such a meaningful chapter in the Navy Yard’s story.
New Companies at the Navy Yard
In 2024, PIDC welcomed six new businesses across industries:
- BioMerieux
- Comcast
- JP Logistics & Consulting
- Bloom 42
- Novick Urban Farm
- Mid-Atlantic Retina
Job Creation & Opportunity
Navy Yard-based companies continue to support accessible jobs across all educational levels — from those requiring GEDs to PhDs — and represent a variety of sectors and industries, in fields as diverse as shipbuilding and repair, cell and gene therapy, industrial trades, health care, chemical and materials R&D, retail, and logistics. The 16,500 jobs based here demonstrate a balanced mix of different educational levels:
37%
individuals are in roles with a GED or High School Diploma
27%
individuals are in roles with some college
36%
individuals are in roles with a college degree or higher
Capital Projects
Behind the scenes, PIDC continued to invest in the infrastructure and assets that keeps the Navy Yard running. This included:
- $22 million restoration of Broad Street, the main critical gateway into the Navy Yard, which also reopened the finish line for the iconic Broad Street Run.
- $31 million expansion and upgrade of the Navy Yard’s energy grid to meet growing demand from businesses and new developments.
- Making essential repairs to key entry points and bridges that keep people and goods moving efficiently across the campus.
These upgrades ensure the Navy Yard is ready for its next phase of growth.
Real Estate
Behind the scenes, PIDC continued to invest in the infrastructure and assets that keeps the Navy Yard running. This included:
- Breaking ground on its first residential project bringing more than 600 rental units, including workforce housing.
- Restoration of Pier 1 and reconstruction of a critical pier.
- 752k square feet of commercial and industrial lease renewals expansions for the Navy Yard.
These projects reflect the Navy Yard’s dedication to creating a place where people can live, work, and thrive.
Events & Programming
More than just a place to work, the Navy Yard has become one of Philadelphia’s most vibrant and welcoming neighborhoods. In 2024 we:
- Hosted over 150 events and programs that brought together employees, neighbors, and visitors.
- Brought our seventh public art installation in partnership with GroupX to the Navy Yard, drawing thousands of visitors.
- Welcomed 100K event attendees.
2024 was full of moments that made the Navy Yard feel more connected and alive than ever. And we’re just getting started: In 2025, we’re marking 25 years of PIDC’s transformation of the Navy Yard, having acquired the former naval base from the federal government on behalf of the city in 2000
The Navy Yard is managed and operated by PIDC, Philadelphia’s public-private economic development corporation charged with driving growth across the city. Learn more about our organization’s impact in our 2024 PIDC Annual Review.