A major $100 million investment by Rhoads Industries, in partnership with Pennsylvania Governor Josh Shapiro’s administration, is set to make Philadelphia’s Navy Yard a national hub for submarine manufacturing. Select Greater Philadelphia welcomes this investment news as this expansion is expected to exponentially grow Greater Philadelphia’s manufacturing sector and become an anchor that strengthens our region’s middle market.

The project includes building a new 95,000-square-foot fabrication facility designed for large-scale submarine production and barge shipping operations. This state-of-the-art expansion will double Rhoads’s capacity to support the U.S. Navy’s submarine industrial base, including advanced welding, machining, and logistics services.

“The future of shipbuilding runs through Philadelphia — and just like generations before us, it’s Pennsylvania workers who will build what keeps our nation safe. We’re investing in that future because it’s good for our economy, our communities, and for the people of Pennsylvania.” said Governor Shapiro at the announcement.

“We’re celebrating the success of an outstanding company with Philadelphia roots that are nearly 130 years deep. Even more, we’re excited to celebrate another example of what can be achieved in Philadelphia and across Pennsylvania when the private and public sectors work in sync for the benefit of the communities and citizens we serve,” said Greg Deavens, Board Chair, The Chamber of Commerce for Greater Philadelphia.

This investment serves as a catalyst for accelerating economic opportunities for Greater Philadelphia’s residents. This project will create 450 new full-time jobs while retaining 541 existing jobs at the Navy Yard, which should result in a projected $44 million in annual payroll entering the local economy. To help clear a pathway for tomorrow’s workforce, Rhoads operates a state-accredited, three-year apprenticeship program in collaboration with Boilermakers Local 19, training high school graduates in welding, machining, and submarine fabrication.

Holistically, this investment will emphasize Greater Philadelphia’s competitive edge in advanced manufacturing, an industry identified by Select Greater Philadelphia as a strategic growth area with high potential. Furthermore, the addition of barge shipping access makes the region more attractive to national and global manufacturers and suppliers.

A major win for the region, this expansion reflects that Greater Philadelphia is a thriving economic hub that is connected, collaborative, and accessible to the world.