Representatives from the federal government and the Brooklyn Navy Yard Development Corp announce plans to renovate building 77.
The United States Department of Commerce’s Economic Development Association (EDA) is working with the Brooklyn Navy Yard to turn a large portion of the Brooklyn waterfront back into a manufacturing hub.
The federal government announced a $2 million investment in the Navy Yard, which will go towards bringing jobs to the area.
“This project will enhance the Brooklyn Navy Yard while creating economic opportunity and the chance for well-paying, green manufacturing jobs,” said Congresswoman Nydia Velázquez. “I’m pleased to see this initiative moving forward.”
The $2 million grant adds to the $20 million the federal government has already invested into the Brooklyn Navy Yard. The grant alone expects to add 375 jobs to the Navy Yard, which currently employs 2,000 people in manufacturing jobs.
That’s not the only investment in the site. The big project, which is currently underway, is the revitalization of Building 77, which will be the second structure in the yard that’s open to the public. Currently, Building 92 houses a cafe
“In two years, this former Navy storage will be buzzing with 3,000 workers and dozens of businesses,” said Brooklyn Navy Yard Development Corporation president and CEO David Ehrenberg.
The massive, 1 million-square-foot building, which popular folklore says used to store weapons, is already under renovation. The investment from the EDA will help renovate two floors of the building into industrial suites for small to medium-sized start-up businesses.
“At 1 million square feet, Building 77 is by far our largest project to date and would not be possible without public support,” said Ehrenberg. “The EDA investment is a vote of confidence in the tremendous economic impact this project will have, not only for the Yard’s existing businesses but for the 3,000 jobs that will be created.”
The EDA’s investment into the Navy Yard began in the 1970s after the base closed and nearly 9,500 workers were displaced.
Now, with an emphasis on bringing more manufacturing jobs back to the United States, the federal government is again looking at the site for additional investment.
“American manufacturing is experiencing a renaissance and creating high-paying, high-tech jobs all across the country,” said EDA Deputy Assistant Secretary Matt Erskine. “The EDA investment announced today continues EDA’s long-standing support of the Brooklyn Navy Yard, which is a prime example of the power of economic development to create jobs and economic growth.”