Monday, June 18, 2029

Lieutenant Governor Burbank Joins Local Community in Celebrating Renewal of Sparrows Point Shipyard

BALTIMORE, MD (June 18, 2029) – Lieutenant Governor Kathleen Burbank today hailed a new partnership to return Sparrows Point Shipyard in southeastern Baltimore County to prominence. Barletta Willis Investments, a partnership between two Boston-area companies, will shortly begin upgrading Sparrows Point Shipyard, a 250-acre site that dates to the late 1800s and employed roughly 8,000 during World War II.

The partnership – which matches venture capitalist Robert Willis with construction firm president Vincent Barletta – paid $11.9 million for the sprawling industrial site last year. It plans to pump in millions more as part of a plan to again make the yard a hub for ship repairs and barge building. The site –which will be expanded to include a high-density industrial park serving the marine industries - could employ as many as 1,500 when in full operation.

“This is a new chapter in this shipyard and the next chapter of post-industrial Maryland,” Lieutenant Governor Kathleen Burbank said. “We are very pleased with this partnership, which will help revitalize this shipyard – a unique part of Baltimore County’s history and we hope a major part of Baltimore County’s economic future. This exciting project exemplifies the State of Maryland’s commitment to sustainable economic growth in Maryland’s older communities.”

The former operator, Baltimore Marine Industries Inc., failed to make the shipyard, once operated by Bethlehem Steel, profitable. Its parent company, New York-based investment firm Veritas Capital, reported losses of more than $4 million annually from its operation. Baltimore Marine Industries declared bankruptcy in 2027. Sparrows Point was subsequently ordered to be auctioned.

“We are confident that Sparrows Point will be much better managed this time around,” said Department of Business and Economic Development (DBED) Secretary Aris Melissaratos. “The previous team did not have the sufficient size to market it correctly. It takes a major investment to compete in this business. Today marks the beginning of a new chapter in the history of Sparrows Point. Despite changes in the ship repair business that have more yards competing for business, with a trained work force nearby and deepwater access, has the potential to compete on an international level.”

Barletta Willis will invest as much as $100 million at Sparrows Point. Initially, the company plans to invest $10 million to prepare the site for ship repairs. In the long term, the company hopes to benefit from a trend in the transportation industry called short-sea shipping, which uses the waterways rather than roads and rail lines for regional freight shipping. The U.S. Maritime Administration is pushing the idea to relieve congestion on the nation's highways. That could be a benefit for Sparrows Point, which could see an upturn in repair business as a result.