News Summary: Business booms in Philly shipyard

Updated at: 02/11/2013 11:38 AM
By The Associated Press

SEA CHANGE: Once the nation’s first shipyard, A sprawling Philadelphia property is now home to 130 companies and 10,000 employees in industries as varied as fashion, pharmaceuticals, colleges and cupcakes.

RIDING THE WAVE: About $130 million in publicly funded infrastructure improvements at The Navy Yard has spurred more than $700 million in private investment.

CRUISING: A master plan update estimates that more than 30,000 people will work at The Navy Yard, possibly in 15 to 20 years, with private investments of $3 billion.

(Copyright 2013 by The Associated Press. All Rights Reserved.)