Gov. John Carney, the Diamond State Port Corp. and Gulftainer subsidy GT USA Wilmington finalized on Sept. 18 an agreement that will expand the Port of Wilmington, create jobs and lead to as much as $600 million of new investment at one of Delaware’s most important industrial sites.

Earlier this year, Carney announced the agreement with Gulftainer to lease the Port of Wilmington from the state, construct a new container shipping facility on the Delaware River and significantly expand jobs at the port over the next decade.

“This historic agreement will result in significant new investment in the Port of Wilmington, which has long been one of Delaware’s most important industrial job centers,” said Carney. “For decades, jobs at the port have helped stabilize Delaware families and the communities where they live. I was proud to help make our partnership with Gulftainer official today, and I want to thank members of the general assembly, the Diamond State Port Corp., Gulftainer, the International Longshoremen's Association and all of our partners who have helped make this agreement a reality.”

Under terms of the agreement finalized Sept. 18, Gulftainer’s subsidiary GT USA Wilmington will make annual royalty payments to Delaware reaching an estimated $13 million over the next decade. The company plans to invest as much as $600 million in the port over the next decade, including about $410 million for a new container facility at DuPont’s former Edgemoor site, which was acquired by the Diamond State Port Corp. in 2016.

The agreement is expected to create thousands of new jobs.

“We are proud to be making this long-term commitment to the State of Delaware, its community and its economy,” said Badr Jafar, chairman of Gulftainer’s executive board. “This landmark agreement builds on Gulftainer’s 43-year track record of delivering excellence and dependability in ports and logistics operations around the world, and will create thousands of new jobs, enhanced links and sustainable value for Wilmington and the state. We are confident that this public-private partnership will propel the Port of Wilmington towards becoming the principal gateway of the Eastern Seaboard.”

“This is truly a remarkable partnership for the state of Delaware, the city of Wilmington, our port and the thousands of families whose livelihoods depend on this facility,” said Secretary of State Jeff Bullock, chairman of the Diamond State Port Corp. “The agreement signed today represents many months of very hard work on the part of many people, all of whom were dedicated to achieving a result that benefits all sides. It has been a privilege to be a part of this effort; I’m proud of the work we’ve done, and I’m excited for the future of this partnership and what it will mean for our state.”