NAVY YARD (KYW Newsradio) — The $100 million expansion of Rhoads Industries, a longtime maritime manufacturer and military contractor, at Philadelphia’s Navy Yard, is big news for the city and state’s job market.
More than 500 people already work for Rhoads at the Navy Yard, but the expansion for the 130-year-old company will bring 450 new jobs to the region.
Governor Josh Shapiro was in the Navy Yard Thursday to tout the state’s contribution to the effort.
"We are investing $4 million in Rhoads to help them with their brand new production facility here on this site that's going to allow them to double their capacity for the U.S. Navy's submarine program," said Shapiro.
He said the support was to “ensure that the future of submarine manufacturing and shipbuilding and all things important to securing our freedom is going to run right here through the Philadelphia Shipyard.”
The governor also said the state has worked with Rhoads to speed up the permitting process to get the new 95,000 square-foot facility built as quickly as possible.
Over the last decade, the state has provided Rhoades more than $17 million in Redevelopment Assistance Capital Program grants.