ANNAPOLIS, MD — Governor Wes Moore joined Tradepoint Atlantic and Terminal Investment Limited to break ground on the Sparrows Point Container Terminal. The 168-acre container terminal will feature seven ship-to-shore cranes capable of servicing two ultra-large container vessels simultaneously.
The new terminal and on-dock rail facility at Coke Point will drive historic economic growth for Maryland, creating more than 8,000 jobs and expanding container handling capacity at the Port of Baltimore by 70 percent. Terminal Investment Limited and Tradepoint Atlantic secured approximately $1.2 billion in private financing to deliver the facility, marking one of the largest private container terminal investments in U.S. history.
“Progress doesn’t just happen, progress is made to happen,” Moore said. “From our response to the Key Bridge collapse two years ago to the recovery that continues to this day, Team Maryland and our federal partners are showing what it looks like to deliver progress through partnership. ... At Sparrows Point, we mark the next chapter in the Port of Baltimore’s success story — for our workers, for our state, and for our nation.”
Backed by $88 million in state investments across multiple sources, the project represents the next major phase in Tradepoint Atlantic’s mission to revitalize the former Bethlehem Steel site. Once completed in 2030, the terminal will elevate Baltimore from the sixth- to the third-largest container port on the Eastern Seaboard. The site will handle approximately 1 million containers annually and generate an estimated $1.5 billion in economic activity for the state. The project will also support 1,100 permanent International Longshoremen's Association union jobs and an additional 7,000 indirect jobs connected to the terminal’s operations.
The state’s planned investment includes $48 million in conditional loans from the Department of Commerce through the Sunny Day Fund, to be dispersed over the next six state fiscal years pending approval from the Legislative Policy Committee; $2 million in conditional loans from the Department of Commerce through the Advantage Maryland program; and $38 million in fiscal 2025 and 2026 budget allocations. The development is further supported by a nearly $40 million federal grant through the U.S. Department of Transportation Maritime Administration's (MARAD) Port Infrastructure Development Program and a payment in lieu of taxes (PILOT) agreement with Baltimore County.
| Your local Trimble Construction Division dealer |
|---|
| SITECH Mid-South |
| SITECH Mid-South |
| SITECH Mid-South |
“[This] groundbreaking at Sparrows Point is exactly the kind of strategic, long-term port investment the United States needs,” MARAD Administrator Stephen Carmel said. “The Department of Transportation and MARAD are committed to building a resilient maritime supply chain. Through the $39.7 million Port Infrastructure Development Program grant, MARAD is proud to support the terminal’s expansion. This project will dramatically strengthen America’s maritime supply chain and expand domestic cargo capacity on the East Coast.”
