Partners:  The Mid-Atlantic Angel Investment Group
Location: Paoli, PA
Date: September 7, 2011

Algar Ferrari offered the members of the MAG Investment Group the opportunity to experience the joy of driving the Ferrari California through the historic Philadelphia Naval Ship Yard. The convertible GT, 460 HP California truly impressed all the guests, accelerating from a dead stop to 60 mph in less than 4 seconds – thanks to its innovative Launch Control technology.

The country’s first naval yard dates back to the founding of the country in 1776, when the Continental Congress leased land along Philadelphia’s Front Street docks to support the new nation’s fledgling Navy.

The new, much larger navy yard was built around facilities erected during the Civil War on League Island at the confluence of the Delaware and Schuylkill Rivers. Home to the world’s largest crane during World War I, the facility employed 40,000 people during World War II and ultimately built 53 ships, including the famed battleship New Jersey. Moreover, in the Naval Laboratory, Philip Abelson developed the liquid thermal diffusion technique for separating Uranium 235 for the Manhattan Project.

By 1995 nearly all the naval activities were brought to a close, except the Naval Ships Engineering Station, the Propeller Shop and Foundry and the Naval Inactive Ship Maintenance Facility.

Today, the Navy Yard is one of the most thriving business centers in the region, dedicated to renewable energy power research and innovation, energy efficiency and sustainability to support Mayor Nutter’s goal of making Philadelphia the Greenest City in America. Home to over 130 companies including GlaxoSmithKline, Urban Outfitters, and Tastykake the campus currently employs 10,000 people.

Algar Ferrari was happy to provide extra horsepower to the re-emergence of the Philadelphia Navy Yard.