TradePoint Atlantic (TPA) – previously Sparrows Point Terminal – is a former 3,200 acre Bethlehem Steel plant site located in southeastern Baltimore County, Maryland. TPA purchased the brownfield site in the fall of 2014 with plans to redevelop it into a major East Coast multi-modal distribution and manufacturing hub.
BLS & Co. was engaged to develop a comprehensive strategy to secure the public financing sources needed to mitigate the significant cost of repositioning a brownfields site of this scale and complexity. Our services included:
The competitive benchmarking analysis revealed an opportunity to improve the cost competitiveness of the site via the introduction of a targeted sales and use tax exemption for specified construction materials and warehousing equipment. BLS & Co. served as “subject matter expert” to assist TPA in pursuit of the required legislation by documenting the competitive market-based rationale for the proposed exemption, providing data on similar programs in other locations, drafting proposed legislation and providing expert testimony during Senate and House hearings on the proposed legislation. On May 19, 2016, Maryland Governor Larry Hogan signed the enabling legislation.