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Date: Nov 14, 2018

17,000 new jobs supported

Baltimore County Executive Don Mohler has submitted a public infrastructure agreement to the County Council to support Tradepoint Atlantic’s development of 3,200 acres at Sparrows Point.

Public roads, water and sewer infrastructure would support over 17,000 new jobs and $3 billion in economic impact. An analysis commissioned by the County from RKG Associates projects $294 million in County tax revenues through 2048 as a result of development at Tradepoint Atlantic.

“Securing 17,000 new jobs and $3 billion in economic impact anywhere in the County has a positive impact everywhere in the County,” said County Executive Don Mohler. “With proper infrastructure investment, Tradepoint Atlantic will be a transformational economic development project for the County and the entire region.”

Tradepoint Atlantic is turning a vacant 3,200 acre industrial site into a global logistics hub. The redevelopment of the former steel mill site is Baltimore County’s largest economic development project in over a generation.

Proposed Agreement

Under the proposed agreement, which must be approved by the County Council, Baltimore County would reimburse Tradepoint Atlantic for up to $34 million in road construction costs and up to $44 million in water and sewer infrastructure.

“It took months to reach this agreement, but the wait was worth it. This is a much better deal for county taxpayers than the original proposal,” said County Executive Mohler.

The County will reimburse Tradepoint Atlantic for road costs through a portion of the funds that the State of Maryland pays to Baltimore County for new projects within a designated Enterprise Zone.

Water and sewer infrastructure would be funded through the Metropolitan District Fund [Metro], a program designed to fund public water and sewer projects.

Independent Analysis

“We’ve done our due diligence to be certain that our investment in public infrastructure at Tradepoint Atlantic is a good deal for the people of Baltimore County in terms of new jobs and increased revenue to the County,” said Mohler. “That’s why we asked a third-party consultant to conduct an independent economic and fiscal impact analysis.”

The RKG Associates Economic & Fiscal Impact Analysis and Revenue Projections report is available on the Baltimore County website.

Council Action

“Tradepoint Atlantic has the potential to bring thousands of jobs to our county. The Council looks forward to thoroughly studying the agreement and hearing from all stakeholders,” said Council Chair Julian Jones.

The Baltimore County Council is scheduled to discuss the Tradepoint Atlantic public infrastructure agreement at a December 11 public work session.

Tradepoint Atlantic Companies

FedEx, Amazon, Under Armour, Pasha Automotive, Gotham Greens and Perdue are among the companies that already have opened or signed leases for new facilities at Tradepoint Atlantic in Sparrows Point.

“There already are more people working at Tradepoint Atlantic today than when the steel mill closed in 2012,” said Mohler.


 
 
Revised September 11, 2017