While the Hanwha Philly Shipyard is vital to national defense, federal officials touted the shipyard\u2019s role as a job creator at a Monday press conference.<\/p>\n
\u201cWe appreciate the administration\u2019s support,\u201d said Hanwha Philly Shipyard CEO David Kim.<\/p>\n
\u201cThe president has been very clear that America is open for business,\u201d\u00a0said Chris Pilkerton, Assistant Secretary, Office of Investment Security, of the U.S. Treasury. Through the Committee on Foreign Investment in the United States (CFIUS), \u201cour job is to ensure as we see international investment that comes into the United States, it\u2019s done in a secure way, that\u2019s its done in a transparent way, in a way that we can engage and help support the strategic vendors that help support this amazing business here in front of us.\u201d<\/p>\n
Pilkerton noted that the SBA is a \u201ckey partner\u201d for the Treasury Department.<\/p>\n
\u201cAmerica is back as a nation of builders,\u201d Small Business Administrator Kelly Loeffler said. \u201cWe see it right here at Hansha Philly Shipyard. It\u2019s incredible, already hundreds of millions of dollars of investment, hundreds of employees, an incredible apprenticeship class that now numbers about 200 and growing. But here\u2019s what\u2019s at stake: the future of America is not just building but economic strength and national security.\u201d<\/p>\n
The Small Business Administration began as the Small Defense Plants Administration, she said.\u00a0<\/p>\n
President Dwight Eisenhower started the SBA, \u201cacknowledging the absolute critical nature of having a national supply chain, underpinned by small suppliers.\u201d<\/p>\n
Loeffler said that they\u2019re \u201conshoring our supply chains.\u201d<\/p>\n
\u201cThat starts with America\u2019s small businesses that make up 98 percent of all manufacturers across America, and that it\u2019s absolutely critical that we have the policies in place to support their growth and we have to supply shipyards like this. And when you look at the Working Families tax cuts, that provide 100 percent expensing for made in America, that provides no tax on overtime for the hardworking men and women here, that we\u2019re restoring our defense industrial base, making the war fighters of our nation stronger.\u201d<\/p>\n
The SBA put out billions in capital for manufacturers, with $32 million going to the shipbuilding industry, she said.\u00a0<\/p>\n
\u201cPresident Trump has put in place fair trade, and that means tariffs,\u201d she added, noting as she visits factories around the country, she\u2019s seeing optimism. Tariffs \u201cbring manufacturing back to America and create the jobs you see here that had lost out, hollowing out our industrial base for the last five decades, losing 5 million jobs. Now we\u2019re going to have that strength back in America.\u201d<\/p>\n
\u201cEconomic security is national security,\u201d said Pilkerton, echoing Trump and Treasury Secretary Scott Bessent.<\/p>\n
\u201cWe want to be able to support shipbuilding, but we want to support communities,\u201d he said. \u201cAnd the reality is, growing this community. The plan that Hanwha has to grow and build more ships is only going to make us more secure.\u201d<\/p>\n
About 2,000 people work for Philly Shipyard, both vendors and employees. But they plan to grow to more than 10,000, said Kim.\u00a0<\/p>\n
Fideri News Network asked how many local suppliers and vendors service the Philly Shipyard. Kim said they have \u201croughly 1,000\u201d suppliers.<\/p>\n
\u201cAbout three-quarters of them are local suppliers,\u201d he said. \u201cA meaningful number\u201d are in Pennsylvania and \u201cwe continue to grow that base.\u201d<\/p>\n
Kim said as the company grows, it\u2019s important to \u201cgrow our supplier base. We recently signed a MOU (memorandum of understanding) with the Philadelphia Chamber of Commerce (to) identify and grow our supplier base here in Philadelphia and in Pennsylvania.\u201d<\/p>\n
\u201cHanwha\u2019s investment in our community will create up to 10,000 jobs and create tremendous opportunity throughout our regional economy, which is why we are proud to work with them to develop a local shipbuilding supply chain, identify and connect with local suppliers, address workforce shortages, and advocate for policies which position Greater Philadelphia as a shipbuilding hub,\u201d said Shannon McLaughlin, a spokesperson for the Chamber of Commerce for Greater Philadelphia. \u201cAs the Greater Philadelphia shipbuilding ecosystem grows, this kind of local sourcing creates quality jobs, strengthens businesses, and increases economic mobility for our regional workforce.\u201d\u00a0<\/p>\n