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Dec 4, 2008 7:07 pm US/Eastern
Paper Company Brings Good News To Baltimore's Port
BALTIMORE (WJZ) ―
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The fate of the American auto industry has left some concerned about the future of the Port of Baltimore, but the Maryland Port Authority is celebrating some good news.
CBS
The fate of the American auto industry has left some concerned about the future of the Port of Baltimore, but the Maryland Port Authority is celebrating some good news.
Derek Valcourt reports they've just signed a 10-year contract with one major international company.
You may not have heard of Finland based UPM, but chances are you've had your hands on the paper they sell to American companies.
"From 'Time' to 'Sports Illustrated' to the JCPenney and Kohl's catalogs that you look at and inserts in the newspaper," said Angelo LaMantia, UPM North America.
Huge rolls of paper line their storage warehouse at the Port of Baltimore. UPM says they looked into other U.S. ports up and down the East Coast for a long-term deal, but it was the Port of Baltimore that won a 10-year contract with the company. The deal was signed Thursday by Governor Martin O'Malley.
"Our port has proven to be really the silver lining in what have often been some dark economic storm clouds," said O'Malley.
"Baltimore is perfectly located, I think, in terms of being in the central Mid-Atlantic to reach our customers, and that was also a prime reason that attracted us here as well," said LaMantia.
The agreement means UPM will support 120 jobs and $26 million in wages and salaries and bring $2.7 million in state and local taxes each year.
Union representatives for the port workers say the deal is reason to celebrate.
"Especially in this bad economic time all over the world where everything is down, for them to sign a 10-year lease, at least the people who work here are almost positively assured they'll have a place to work at least for the next 10 years," said Horace Alston.
Under the contract, UPM has agreed to ship 3.2 million tons of their paper through the Port of Baltimore over the next 10 years.
Meanwhile, good news for the port keeps coming. Carnival Cruise Lines plans on offering year-round cruises out of Baltimore starting in April.
This brings the total number of cruises leaving Baltimore next year to 79 compared to this year where there were only 27 cruises leaving Baltimore.
Exports out of the Port of Baltimore were up more than $1 billion higher in the first half of 2008 than they were in the first half of 2007.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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