Feds Pledge $3 Million Grant To Improve Navy Yard Access
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PHILADELPHIA (CBS/AP) — Federal authorities have announced a $3 million grant aimed at improving access to the former Philadelphia Navy Yard's business campus. The U.S. Department of Commerce says the money will go to the Philadelphia Authority for Industrial Development.
Officials say the money is to be used for "critical infrastructure improvements," citing reconstruction of the quay wall along Broad Street, the main point of access for the Navy Yard.
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The grantee estimates the project will create 1,354 jobs, retain 84 jobs and spur $76 million in private investment.
Once the nation's first shipyard — its origins date to 1776 — the Navy Yard is now a waterfront business campus that is home to 165 companies.
(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)
