On November 19, the Diamond State Port Corporation (DSPC) and The Chemours Company announced an agreement for the Port of Wilmington to purchase the former Chemours Edgemoor site on Hay Road, located to the north of the port’s existing facility.
“I’m excited by the potential for the port to use this site to better connect Delaware with the rest of the nation and the global economy” said Gov. Jack Markell.
“Today’s announcement is great news for Delaware’s economy. The Port of Wilmington has been a source of good-paying, middle class jobs for thousands of Delawareans and their families,” said Congressman and Governor Elect John Carney. “But, the current port is near capacity, and with larger ships coming up the East Coast, we need this space to compete for their business. This agreement is a step toward strengthening the Port of Wilmington and creating more jobs for Delaware workers. I’m looking forward to building on this momentum and continuing to expand operations at the port.”
This spring the DSPC released a strategic plan that concluded that expansion is vital to the port’s long-term survival. It also detailed the taxpayer cost of maintaining the current facility at $300 million over the next twenty years just to maintain existing businesses and their anticipated growth. The plan provided several scenarios for long term growth, which the port board endorsed, including the development of the Chemours site at Edgemoor.
“While this purchase does not guarantee that a new port facility will be built at Edgemoor, it does give us a valuable option to market to potential investors,” said Secretary of State Jeffrey Bullock, the chairman of the DSPC. “The Edgemoor site will be marketed with Riveredge, located south of the Delaware Memorial Bridge, as DSPC’s two primary options for expansion. We are hopeful, of course, that in time both will be developed.”
The sale is expected to close in early 2017. The agreed sale price is $10 million.
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