Maryland Gov. Martin O’Malley (D) says the state’s Nov. 20 agreement with an investor-owned private company to take over port operations in Baltimore for 50 years could generate $1.3 billion in berth expansion, port deepening and related infrastructure improvement. O’Malley says the deal would create about 3,000 construction jobs and 2,700 other positions. Ports America Chesapeake, which has operated two terminals at the port since the 1990s, will pay the state $100 million immediately for the long-term lease, which will give it control over facility net revenue, operations and technology investment. The pact must be approved by the state Board of Public Works. Maryland would still own the 200-acre site, state officials say.
Outsourcing of Port of Baltimore Could Yield 3,000 Building Jobs
November 25, 2009