NEW YORK (CBSNewYork/AP) — Mayor Bill de Blasio announced Monday that the city is investing $140 million in the interest of expanding manufacturing, and creating 3,000 jobs, at the Brooklyn Navy Yard.

The mayor announced the project Monday. It builds on earlier city plans for what is known as Building 77.

The 1-million-square-foot building at the former military shipyard, a sprawling site in Wallabout Bay on the East River bordered by the neighborhoods of Williamsburg, DUMBO-Vinegar Hill, Fort Greene and Clinton Hill.

The shipyard was decommissioned by the Navy in 1966. The city now owns it and has been transforming it into a hub for private manufacturing and entrepreneurship.

The new investment will build out space in Building 77 for tenants including a motorcycle design start-up and a medical diagnostics laboratory. The city says more than 100 prospective tenants have been seeking to get or expand space in the Navy Yard.

De Blasio says the expected 3,000 new jobs will expand employment at the Navy Yard by over 40 percent.

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