PHILADELPHIA — Mayor Cherelle L. Parker today convened leaders from business and government for a Lower South District Economic Opportunity Roundtable focused on accelerating job creation, investment, and long-term growth in one of Philadelphia’s most strategic economic corridors. During the event, the Mayor also announced the inaugural cohort of PHL PRIME, the Administration’s new citywide initiative to accelerate high-impact business expansion and job-creating projects that will help advance economic opportunity in Lower South and across Philadelphia. 

“The Lower South District brings together one of the most powerful combinations of economic assets anywhere in the country, from a world-class port and Navy Yard to Bellwether, the Stadium Complex, major transportation access, and a skilled workforce ready to compete,” said Mayor Cherelle L. Parker. “That combination gives Philadelphia a once-in-a-generation opportunity to create jobs, attract investment, and drive lasting prosperity for neighborhoods across our city. My administration is committed to speed, coordination, and execution to make sure we seize it.”

At the roundtable, Mayor Parker shared how the Lower South District is central to her broader vision for growing Philadelphia’s economy beyond its traditional strengths in education and healthcare by expanding advanced manufacturing, logistics, maritime, shipbuilding, and defense sectors that create job opportunities with family-sustaining wages accessible to residents.

Following the roundtable, Mayor Parker led a tour of key sites across Lower South, highlighting business expansion plans and opportunities for job creation in the years ahead.

• Bellwether District is projected to support up to 19,000 jobs at full buildout.
• Navy Yard is expected to support nearly 30,000 jobs through planned growth and expansion.
• PhilaPort projects and long-term strategic investments could create up to 9,000 jobs.

Altogether, the Lower South District as an economic engine represents the potential for nearly 60,000 jobs that can strengthen our middle class, boost economic mobility, and grow Philadelphia’s tax base.

The inaugural cohort of PHL PRIME (Project Review and Infrastructure Made Easy) projects announced today includes:

• DrinkPAK, the largest canned beverage contract manufacturer in North America, is expanding and investing $350 million in the construction of a state-of-the-art manufacturing facility in the Bellwether District of South Philadelphia. The project is set to generate 175 full-time job opportunities in the Philadelphia region by 2028.
• TerraPower Isotopes, is investing $450 million to establish a radioisotope manufacturing facility in Philadelphia that supports the development of cancer-fighting drugs. This project is projected to create 225 new full-time jobs over the next three years.
• Hanwha Philly Shipyard is investing $5 billion as part of South Korea’s commitment to supporting the growth of the U.S. shipbuilding industry. Through this expansion, Hanwha aims to increase Philly Shipyard’s annual production volume from less than two vessels to up to 20. This project is anticipated to create more than 7,000 jobs over the next five years.
• Rhoads Industries is investing nearly $100 million to grow its manufacturing operations at the Philadelphia Navy Yard. This project will create at least 450 new jobs and retain 541 existing full-time positions.  Rhoads will build a new 95,000-square-foot manufacturing facility to increase its production capacity for the U.S Navy’s Maritime Industrial Base, supporting its submarine program.

Through PHL PRIME, the Administration will closely coordinate across agencies, identify barriers early, and move priority projects faster from planning to completion. A new intake form is now live on the City’s website for businesses seeking support through the program.

“Philadelphia is competing for and winning the kinds of investments that create lasting opportunity for residents,” said Tiffany Thurman, Chief of Staff to Mayor Cherelle L. Parker. “When we align government, workforce strategy, and private-sector growth, we can move projects faster and create more pathways to quality jobs across our city.”

The administration’s commitment to speed, coordination, and execution extends beyond Lower South to major job-creating projects across Philadelphia. Through PHL PRIME, Mayor Parker is creating a clear front door for businesses seeking to partner with the City while ensuring major economic development projects receive focused attention, faster coordination, and stronger accountability.

“Service excellence is at the core of what we do.  PHL PRIME reflects the Parker Administration’s commitment to turning vision into action,” said Karen Fegely, Acting Director, Department of Commerce. “Projects that do not meet PHL PRIME criteria will be matched with Department of Commerce representative providing one-on-one assistance to help businesses navigate City services and connect them with available resources.”

“From day one, my administration has been clear: Philadelphia is open for business. This is only the beginning. Our strategic processes are working as more companies are bringing large-scale investments with thousands of jobs to our city,” said Mayor Cherelle L. Parker. “The launch of PHL PRIME is a key component of our PHL Open for Business initiative to lead a business-friendly government that removes regulatory burdens, speeds up approval timelines, and streamlines City permitting and licensing processes for all businesses.”