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February 13, 2013

Philly's Navy Yard now home to 130 firms

  • About $130 million in public infrastructure at the nation's first shipyard has spurred more than $700 million in private investment, and more is coming, with apartments, a hotel and parks.
    • By JOANN LOVIGLIO
    Associated Press

    PHILADELPHIA — The city's Navy Yard, a massive military powerhouse where battleships were born until the Cold War put it on ice, is celebrating a milestone that seemed a stretch when the Navy shipped out 17 years ago.

    Once the nation's first shipyard — its origins date to 1776 — the sprawling property is now home to 130 companies and 10,000 employees in industries as varied as fashion, pharmaceuticals, colleges and cupcakes.


     
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