The Baltimore County Council is poised to give a 50 year tax break next week to Tradepoint Atlantic. The global logistics center at Sparrows Point wants the tax credit for building a $1.1 billion container terminal that’s expected to create more than eight thousand jobs.
It’s unclear how much the tax break would add up to, although reporting by the Baltimore Banner estimates it would save Tradepoint and its shipping partner MSC hundreds of millions of dollars.
Baltimore County’s senior deputy administrative officer, Sameer Sidh told the council it will help to diversify the county’s economy “at a time when two of our largest employers in the Social Security Administration and the Center for Medicare and Medicaid Services are dramatically reducing the size of their workforce.”
Sidh said Delaware is contributing nearly $200 million to build a smaller container terminal project. Under the Tradepoint deal the county doesn’t have to pony up that kind of cash up front.
Republican Councilman Todd Crandell, who represents Sparrows Point, called it a massive opportunity but added the legislation needs some technical amendments.
“Unlike the referees in Sunday’s Raven’s game, we can actually get it right and not have to apologize later,” Crandell said.
Supporters of the proposal made their pitch to the county council Tuesday.
Scott Cowan, the president of the International Longshoremen’s Association Local #333 told the council that if the project falls through, thousands of jobs will be lost.
“Not just longshoreman’s jobs,” Cowan said. “Truckers, warehouse, building trades. While this is very very important for Baltimore County, almost half of my members live in Baltimore County, this is bigger than just the county.”
However Alexander Pappas, who lives in Fort Howard, called it a sweetheart deal at the taxpayer’s expense for Tradepoint. Pappas said any long term benefits the county might see are speculative.
“In total contrast, the 50 year tax formula is numerical, exact, nonfungible, ironclad in Tradepoint’s guaranteed deal, while leaving taxpayers merely to speculate any benefit, if at all, will accrue,” Pappas said.
A majority of council members have signed on in support of the legislation, which paves the way for it to be approved at the council’s Dec. 15 meeting.
