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Keyword: kamenetz

RISE Zones designed to spur economic development and job creation

Baltimore County is supporting a new State designation for Towson University to maximize their economic development impact. County Executive Kevin Kamenetz sent a letter to the Maryland Department of Commerce in support of Towson University’s designation as a qualified Maryland Regional Institution Strategic Enterprise (RISE) Zone institution. Once approved, the University is eligible for full designation as a RISE Zone.

The RISE Zone program was established by the State to leverage the economic development potential of Maryland’s higher education institutions.

“RISE Zone designation for Towson University will build on their leadership in attracting innovation companies to the TU incubator, with the potential to further support emerging companies that locate and create new jobs in Towson,” said Baltimore County Executive Kevin Kamenetz.

Towson University has strong economic development impact in areas near the university. The University has a presence in downtown Towson with its Center for Well-Being, Hussman Center for Adults with Autism, and affiliated WTMD Radio studios at Towson City Center.

“Towson University is a significant economic driver of a knowledge-based economy for Towson, the county and greater Baltimore,” said Towson University President Kim Schatzel. “The RISE Zone designation will advance the university’s connectedness and impact throughout the region. TU’s $1.8 billion annual economic impact, including $150 million generated by the TU incubator, makes us a sought-after partner for established businesses and start-ups alike. The RISE Zone designation will help position Greater Towson as a leader in technological innovation, entrepreneurship and a knowledge-based economy.”

Baltimore County has been awarded a $20 million federal grant for infrastructure improvements and expansion of aging marine facilities at Tradepoint Atlantic. The U.S. Department of Transportation’s Transportation Generating Economic Recovery (TIGER) grant will be matched by private investment from Tradepoint Atlantic, developer of 3,100 acres at Sparrows Point.

“This public/private infrastructure investment will ignite job creation in Baltimore County and the entire region by speeding up the turnaround of Sparrows Point from a shuttered steelmaking site into a modern hub for global commerce,” said Baltimore County Executive Kevin Kamenetz.

With funding from the TIGER grant, Tradepoint Atlantic will make structural upgrades to the East-West Berth, modernize it for efficient movement of 21st century cargo, strengthen bulkheads, perform maintenance dredging to allow deep water ships access to the marine terminal, and other necessary improvements designed to leverage existing rail and highway systems on the site.

The investments in dredging, a stronger berth, and short line rail track will facilitate efficient and safe loading and unloading, reducing handling costs for shippers using the facility.

“By partnering with Baltimore County to secure this federal grant for infrastructure investment, we can continue our commitment to creating a first-class facility dedicated to increasing long term job creation in the Baltimore region and lowering prices of American export and import consumer goods,” said Aaron Tomarchio, a Senior Vice President at Tradepoint Atlantic.

The project will expand the region’s bulk handling capability by restoring an obsolete regional marine asset to a state of good repair. The modernization program expands bulk cargo handling capability at Tradepoint Atlantic and does not introduce container cargo handling to the site.

The grant projects will span four years. The TIGER grant is led by the Baltimore County Department of Economic and Workforce Development.

“With this federal transportation grant, Baltimore County continues to proactively put key pieces in place to support development of Tradepoint Atlantic,” said Kamenetz. Baltimore County initiated creation of the Chesapeake Enterprise Zone and established a foreign trade zone to facilitate global commerce.

Economic and Jobs Impact

A recent economic impact report projects Tradepoint Atlantic will generate 17,000 jobs in the Baltimore region, plus another 21,000 jobs during construction. Economic impact is projected to top $3 billion when development of the 3,100 acre site is completed in 2025, according to the Sage Policy Group study.

“There are more than 17,000 jobs on the horizon at full development, but jobs already are coming back to Sparrows Point from world class companies including FedEx Ground, Amazon and Under Armour,” added Kamenetz.

Employment could grow to 1,500 at Hunt Valley campus by 2020

Bank of America is planning to add about 600 new jobs at its Hunt Valley complex, significantly expanding its Baltimore County operations. The anticipated increase follows the addition of nearly 300 jobs in 2017.

“Adding 900 new jobs in three years is a big boost for our economy. Bank of America chose to expand in Baltimore County because we provided what the company needed -- a talented financial services workforce and responsive local government that expedited approvals to meet the expansion timeline,” said Baltimore County Executive Kevin Kamenetz.

Bank of America, one of the world’s leading financial institutions and the largest bank in the Baltimore region, anticipates a total of about 1,500 jobs at its Hunt Valley campus by 2020.

Bank of America upgraded a two-building 377,000 square foot complex at McCormick and Shawan Roads in Hunt Valley, upgrading interiors and increasing parking to accommodate their growing workforce.

“We are pleased to expand our base of operations in Baltimore County and the great state of Maryland, and we are appreciative of our public servants who work tirelessly on behalf of the community we are proud to serve,” said Bank of America Greater Maryland Market President Sabina Kelly.

Hunt Valley is one of Baltimore County’s most vibrant employment centers, with McCormick’s new global headquarters opening in 2018, light rail and interstate access, and the amenities of Hunt Valley Towne Centre across the street from the Bank of America campus.

The new jobs primarily will comprise call center and staff support positions.

“Our new Baltimore County Job Connector program is launching just as Bank of America is beginning recruitment for 600 new jobs,” added Kamenetz.

Kamenetz recently announced a $2.5 million Baltimore County Job Connector program to help businesses recruit, train and match workers with jobs in high-demand fields such as corporate operations/customer service, healthcare and logistics/distribution.

Individuals interested in applying for currently open positions at Bank of America may visit Job seekers can meet with a career counselor at a Baltimore County American Job Center in Hunt Valley, Randallstown or Eastpoint.

Bank of America’s job growth in Baltimore County comes as Fortune 500 company Stanley Black & Decker announced 400 new jobs coming to Greenleigh at Crossroads in White Marsh-Middle River. FedEx Ground, Under Armour, Pasha Automotive and a new 1,000-job Amazon fulfillment center are meeting the jobs potential of the redevelopment of Sparrows Point at Tradepoint Atlantic.

Revised September 11, 2017