PA Gov. Corbett bails out failing Aker shipyard with $42M

UPDATE: Linda Loyd's Inquirer story here.

EARLIER: PA Gov. Tom Corbett says the state will go ahead and spend $42 million (previously authorized and approved by ex Gov. Rendell and the General Assembly) to buy equipment at the failing Aker Philadelphia Shipyard, in hopes US shipbuilding will recover in time to save several hundred jobs at the South Philadelphia facility, where Pennsylvania has previously committed over $400 million in grants and loans.

Corbett statement here.