Mayor de Blasio announced this week that the city is making a major investment of $140 million to transform the Brooklyn Navy Yard's Building 77 into a modern manufacturing facility generating 3,000 good-paying jobs. The investment from the City, Brooklyn Navy Yard Development Corporation, Brooklyn Borough President and City Council will be used to renovate the vacant industrial building, significantly expanding a project begun under the previous administration and doubling the projected number of good jobs at the facility. Once the building is completed, and jobs filled, Navy Yard employment is expected to increase by 40%.
"We are jump-starting a new wave of manufacturing and job creation at the Navy Yard. It will mean more opportunity for people in this community to not only secure a job, but also get the skills and upward mobility they need to support a family," said Mayor Bill de Blasio. "We believe in the kind of economic investments that will spur good jobs and spark the type of growth that can lift up whole neighborhoods. We're thrilled to work with all our partners to get this project moving."
The 1-million-square-foot building at the former military shipyard, a sprawling site in Wallabout Bay on the East River bordered by the neighborhoods of Williamsburg, DUMBO-Vinegar Hill, Fort Greene and Clinton Hill. According to CBS, the shipyard was decommissioned by the Navy in 1966; the city now owns it and has been transforming it into a hub for private manufacturing and entrepreneurship.
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