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When the Philadelphia Naval Shipyard closes in September 1995, the city is expected to lose more than $530 million and almost 30,000 jobs. The Shipyard, which has been a fixture in South Philadelphia for more than 200 years, will shut down as part of a $1.5 billion government savings plan. "We are working with the Navy diligently to minimize the effect of the closing, and creating a viable plan that will convert that extremely valuable land area," said Richard Maloney, vice president of comm- unications for the Philadelphia Chamber of Commerce. He added, however, that "[the closing will] have a definite negative effect on the region." The shipyard's 7,000 employees will be hardest hit by the closing -- most expect to be laid-off. But, it will also affect the 20,000 people who work for establishments which cater to the Shipyard. "We've given up the fight," said 11- year naval yard worker Terry Powell. "You just roll with the punches and live your life from there. I'm too young to retire and too old to learn a new trick." U.S. Senator Arlen Specter (D-Pa.) helped challenge the U.S. Defense Department Closure and Realignment Commission's 1991 decision earlier this month when he testified during a trial held before the U.S. Supreme Court, said his spokesperson Susan Lamontagne. "Senator Specter believes that the navy yard was not given a fair hearing by the Defense Closure and Realignment Commission," she said. The lawsuit stated that the Navy purposefully withheld information compiled by its own experts about the shipyard's value. A federal judge dismissed the suit, which was subsequently reinstated in the U.S. Court of Appeals. A decision on the case is not expected until this summer. Although the DCRC report admits "the impact [of the closing] on the city of Philadelphia would be severe," the Commission chose to include the naval base among 33 other military base closings nationwide. As of September 1995, the city will take over 70 percent of the yard's land space. The rest will remain U.S. Navy property, and will be reserved primarily for military crises. The city's newly acquired land -- approximately 1,000 acres -- may be used for anything from low rent housing to an amusement park. "Its a beautiful area down there, and its probably one of the most valuable areas in the regions," said Maloney. "There are probably a dozen different scenarios." The Associated Press contributed to this article.

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