Page 26 - Port of Baltimore Magazine May/June 2013

[24] The Port of Baltimore ■ May/June 2013 To subscribe or renew, visitwww.marylandports.com
ships and handle more cargo. The
expansion of the Panama Canal, expected
to be completed in two years, should result
in both outcomes.
“This new 50-foot-deep berth and
these cranes were absolutely critical
to the long-term future of the Port of
Baltimore, enabling Maryland to retain
existing business and jobs while allowing
us to accommodate new business and
create new jobs that will come aboard the
larger ships that are on the horizon,” Gov.
O’Malley said. “This project puts the Port
of Baltimore in an excellent competitive
position when the Panama Canal expansion
is completed in 2015.”
The $105 million Seagirt upgrades
are part of an innovative public-private
partnership agreement between the
Maryland Port Administration (MPA)
and Highstar Capital’s Ports America
Chesapeake. Under the agreement, which
was announced in November 2009, Ports
America Chesapeake has daily operational
control of the 200-acre terminal, but the
state continues to own the facility.
MPA Executive Director James J. White
attributed the partnership’s success to
“working together toward common goals”
such as bringing more jobs and increasing
revenue. “The entire MPA should feel a
true sense of accomplishment for where
we are now and where we’re headed with
Ports America’s involvement,” White said.
“You have to remember, we’re building
something here that will last for the next
50 years.”
Over the 50-year span of the lease
agreement, the public-private partnership
is expected to generate up to $1.8 billion
in total investment and revenue for the
State of Maryland. An estimated 5,700
new jobs created by the agreement include
3,000 for terminal-based construction
Right: Maryland Gov. Martin
O’Malley spoke of Seagirt’s great
potential “to create jobs and
expand opportunity.”
Award-Winning Partnership