That is correct at that location as well, the land it sits on is reclaimed via fill dirt from dredging the river and expensive to add too. The island to the south is now leased by them and could be a growth area, it was a small naval base and has facilities, but not for heavy construction. The road being a huge causeway cannot handle the heavy materals needed for that. To the east sits the old shipyard, in use from the late 30's to the 70's but it was compeletely shut down and stripped of useful construction equipment and large areas filled in because of low level but expensive to clean up radiation left over from building nuclear attack subs in the 70's
In the end it's just cheaper to stay with a steady low level production suited to the needs of really the only customer that US yards have, the US armed forces.