Maryland Gov. Larry Hogan said this week that the expansion of the Port of Baltimore and a new partnership will create 1,000 new jobs for the Sparrows Point region.
The partnership between Tradepoint Atlantic and Terminal Investment Limited will create a 165-acre rail served container terminal on-site at Coke Point, Hogan said. The project is the next major phase of redevelopment at Sparrows Point.
“Tradepoint Atlantic has quickly become a transformational force as one of North America’s most strategic and versatile commercial gateways and a magnet for major companies like Amazon, BMW, FedEx, and Volkswagen to build and expand their footprint in the region,” Hogan said. “It has also solidified the Port of Baltimore’s status as one of the best ports in America, and today we are celebrating a joint partnership between Tradepoint Atlantic and Terminal Investment Limited, which will further expand the growth and competitiveness of the Port with the addition of an on-site 165-acre rail served container terminal.”
Hogan said to support the partnership, he, Baltimore County Executive Johnny Olszewski, and Baltimore City Mayor Brandon Scott have all signed a memorandum of Understanding to promote a collaborative process that will continue to support the Port of Baltimore’s growth.
The port is the largest e-commerce port in the United States and generates 15,300 direct jobs and more than 140,000 indirect jobs linked to port activities. The port ranks first among the nation’s ports for the volume of autos and light trucks, heavy farm equipment, and construction machinery. Last year, Hogan broke ground on the Howard Street Tunnel expansion project that will reconstruct the tunnel to accommodate double-stacked container trains to and from the port.
“This is one of the most important and consequential announcements we have made since setting out with our initial plans to redevelop the former Sparrows Point Steel Mill,” said Kerry Doyle, Tradepoint Atlantic Managing Director. “The Port of Baltimore is a jewel of the Mid-Atlantic region, and today’s announcement means that not only will the Port remain competitive with other major East Coast ports for years to come, but that we will gain a substantial advantage over them.”