Governor Martin O’Malley’s announcement on November 20 that the state and Ports America Chesapeake had entered a 50-year public-private partnership to improve and operate Baltimore’s Seagirt Marine drew strong praise from Greater Baltimore Committee president and CEO Donald C. Fry.
“Today signifies the state’s willingness to bring government and business together to find additional ways to fund significant transportation initiatives,” said Fry, who was among speakers during the announcement ceremony at Seagirt’s 200-acre Dundalk facility.
Governor O’Malley announced a 50-year agreement where the Maryland Port Administration will lease the Seagirt facility to Ports America Chesapeake. In return, the company will build a wider, 50-foot-deep berth enabling the port to serve the next generation of super-container vessels.
The agreement is projected to generate 5,700 new jobs, $1.3 billion in private investment and revenue and $15.7 million per year in tax revenue during the life of the agreement.
Fry praised O’Malley and Ports America for finding a way to improve a vital transportation facility. He noted that the GBC and private-sector leaders have, for many years, encouraged the state to explore more ways to gain access to private-sector capital and expertise in funding and operating transportation resources such as Seagirt.
Look for public-private partnerships to be used more often in the future, said Fry.
Video of Don Fry’s remarks.