Bringing Jobs Back to Sparrows Point
Tradepoint Atlantic’s 21st century master plan will bring back nearly 20,000 jobs to the area.
11,000 permanent jobs • 8,700 jobs during construction
$230 million in new tax revenue
$106 million total from construction and investment activities
- $28 million in local share of personal income tax revenue
- $53 million in state income tax revenue
- $25 million in state sales tax revenue
$124 million annually from operations
- $73 million in new annual state tax revenue
- $48 million in income tax revenue
- $23 million in sales tax revenue (includes 6% construction materials and equipment exemption)
- $2 million in state property tax revenue
$51 million annually in local tax revenue
- $26 million in Baltimore County tax revenue
- $25 million in regional tax revenue
Source: Sage Policy Group, 2017.
A Cleaner, Greener Sparrows Point
Tradepoint Atlantic has provided over $48 million in funding to the USEPA and the Maryland Department of the Environment to remediate Sparrows Point of hazardous waste from decades of steelmaking that resulted in environmental damage to the site and it’s surrounding waterfront. Clean-up efforts are under way and on track, resulting in a cleaner, greener Sparrows Point than ever before in the site’s storied history.
Growing the Economy
The Sparrows Point revitalization will add billions of dollars to the local community.
- $1.1 billion in new wages
- $3 billion in annual economic impact
- 1% to Maryland’s gross state product