Facing stiff competition from privately owned Baltimore Port, state-owned Port of Wilmington Authority is considering a private-ownership. A vote by the legislature is expected shortly in support of the sale.
Although the state-owned port is doing a decent job, it needs to spend millions in upgrades to stay competitive with other ports along the east coast, money the state doesn’t have.
Many states are turning over toll roads, bridges and other high maintenance projects because they can no longer afford the maintenance. That’s ok as long as the private owners don’t go belly up and can’t maintain what they have agreed to.
The Wilmington Port has grown considerably during the past decade with Dole fruits especially bananas and auto imports topping the list coming into the port. The new company promises many new jobs for union members from a flood of construction jobs at the port.