PHILADELPHIA (CBS) — The South Philadelphia refinery that exploded in 2019 is being rebranded. Hilco Redevelopment Partners, who purchased the Philadelphia Energy Solutions refinery last year, announced on Monday that the 1,300-acre property will now be called The Bellwether District.

The Bellwether District will become an economic engine for the city and drive change and inclusive growth by bringing thousands of jobs through future tenants, life sciences, e-commerce, and logistics, according to the release.

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The Bellwether District Rendering 4

The Bellwether District

“Nowhere is the story of re-creation and re-envisioning being played out more dramatically than it is here at The Bellwether District in Philadelphia,” Roberto Perez, CEO of HRP, said in a release. “The Bellwether District is a holistic, thoughtful reimagining of post-industrial property into a cleaner, greener, and more sustainable workplace for generations of people and businesses.”

The Bellwether District will generate roughly 19,000 permanent jobs over 15 years in Philadelphia, according to HRP.

The Bellwether District

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HRP renamed the property The Bellwether District after extensive research and the role Philadelphia has played as an innovator and achiever of many firsts for the county from the first library, hospital, medical school, and to the birthplace of the nation, according to the release. The group plans to make the city one of the global leaders in e-commerce, logistics, and life sciences, and create new economic opportunities for local businesses and residents.

The Bellwether District

Four new city streets are being created and two of them will pay homage to African American Philadelphians. One will be named after James Forten, a Philadelphia businessperson and abolitionist, and the other will be named after Francis Harper, one of the first African American women to be published in the United States.

The Bellwether District will be advertised on billboards on major commuting routes starting this week.

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You can watch a video of The Bellwether District here.