Philadelphia’s shipyards are getting a $24 million vote of confidence from one of the country’s biggest banks, reports Marcus Weisgerber for The Wall Street Journal.
The package from JPMorgan Chase blends investments, loans and grants, while layering in support for workforce training, apprenticeships and the maritime suppliers who keep the industry running.
At its center is an equity stake in Rhoads Industries, a Navy Yard manufacturer that supplies General Dynamics Electric Boat, one of the Navy’s key submarine builders…