PALMETTO — Aggregate production company Martin Marietta is forging ahead with plans to build an aggregate facility at the Manatee seaport.
The Raleigh, N.C.-based company notified Port Manatee on Thursday it secured 20 acres of land from property owner Eastern Cement at the port.
Martin Marietta, which produces construction aggregates used to build roads, will pay $66,000 to temporarily secure the land for six months while it negotiates a permanent deal with Eastern Cement.
Eastern Cement, which imports cement through the port, originally planned to develop an aggregate facility at the port as part of the company’s plans to expand into the aggregate industry. However, due to the economy, Eastern Cement wanted to move away from those plans.
David McDonald, executive director of Port Manatee, said Martin Marietta is looking to negotiate a 30-year land lease agreement with Eastern Cement with two, five-year options for the 20 acres.
Martin Marietta’s aggregate facility is expected to move 400 tons to 600 tons of aggregate a year, and bring in $1 million in annual revenue.
The Manatee County Port Authority approved for Martin Marietta to pick up the temporary land lease option to allow the company to negotiate.
Port Authority commissioners said they were pleased to see new opportunities for future revenue in the works.
“I’m glad the port staff has been able to work with a prominent business to bring new revenue to Manatee County in these difficult times,” said Commissioner Joe McClash. “In these difficult times to be able to bring in new business to Manatee County is extremely important.”
As part of Martin Marietta’s plans to build an aggregate facility, it will also pay a $400,000 permit fee to Port Manatee, and will invest an undisclosed amount of money to build a new conveyor system for moving aggregate at the port.
McDonald said the company will come back before the port authority in several months to seek approval on a permanent land lease agreement with Eastern Cement. At that time, McDonald said Martin Marietta will disclose more information regarding the aggregate facility’s economic impact.
“They’re investing a lot of money here at Port Manatee,” McDonald said. “We’ll have more for you on the economic impact of jobs this will bring to the port at a future meeting.”
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