Shapiro Administration invests $34M in Hanwha Philly Shipyard expansion

August 28, 2025 August 28, 2025

Editorial Staff

Investment in the Philadelphia Navy Yard by the Shapiro Administration and Hanwha is set to boost job creation and shipbuilding capacity, ensuring enhanced infrastructure for national security.

With a vision for growth, the collaboration between Hanwha and the administration aims to expand job opportunities to 5,000, focusing on union jobs, and increase annual ship production in Philadelphia.

Governor Josh Shapiro joined Republic of Korea President Lee Jae Myung at Hanwha Philly Shipyard

Philadelphia, PA – Governor Josh Shapiro, alongside Republic of Korea President Lee Jae Myung and other dignitaries, attended the christening of the TS State of Maine at the Hanwha Philly Shipyard. This $350 million vessel, part of a series of five commissioned by the U.S. Maritime Administration, marks a significant milestone in Philadelphia's shipbuilding legacy.

Governor Shapiro highlighted Pennsylvania's commitment to economic growth, emphasizing the state's openness to business and investment from South Korean entities such as Hanwha, spanning industries like shipbuilding and life sciences.

In the past two years, the Shapiro Administration has allocated over $34 million to the Hanwha Philly Shipyard and its vicinity. This investment aims to bolster shipbuilding capabilities, job creation, and infrastructure, all vital for national security efforts.

The partnership between Hanwha and the Shapiro Administration aims to transform the Navy Yard, predicting a job surge to 5,000, largely comprised of union positions, and an increase in ship production annually. This growth is part of a broader initiative to enhance the Philadelphia Navy Yard as an innovation and manufacturing hub.

Significant investments have been made, including a $100 million project by Rhoads Industries to support the U.S. Navy's submarine program, $30 million through the PA SITES program, and a $6 million grant under the Redevelopment Assistance Capital Program (RACP) in November 2024 for expanding the Philly Shipyard Office and Material Logistics.

Governor Shapiro's administration has achieved substantial results since taking office, securing over $25.2 billion in private investments and creating more than 11,200 jobs. This includes a notable $20 billion investment from Amazon, marking the largest private investment in the state's history.

Governor Shapiro's 2025-26 budget proposal seeks to further propel Pennsylvania's competitiveness with new investments and an ambitious 10-year Economic Development Strategy.

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