Fed Agency Expands To Prince George’s
U.S. Currency Production Facility Makes its Mark in Beltsville
Excerpted From An April 28 Announcement By The Prince George’s County Economic Development Corp.
A federal agency will expand to Prince George’s County bringing the potential for great economic opportunity to the surrounding area.
The U.S. Treasury’s Bureau of Engraving and Printing (BEP) announced the official transfer of a 104-acre parcel of the Beltsville Agricultural Research Center from the Department of Agriculture to the Department of the Treasury. This expansion marks the initial phase of the BEP’s Replacement Currency Production Facility’s move from Washington, DC to Beltsville, Maryland.
“This is a major step forward in a critical component of our economic development strategy to have a more equitable distribution of federal jobs across our region,” said Prince George’s County Executive Angela Alsobrooks. “Federal agencies not only bring jobs to a jurisdiction, but the influx of new jobs and workers spurs new development in the area. We are excited about the new opportunities that this will unlock for residents in Beltsville and surrounding communities.”
The Bureau of Engraving & Printing has selected an unused 104-acre parcel of land at the 6,500-acre Beltsville Agricultural Research Center (BARC) as its preferred location for the $1.4 billion Replacement Currency Production Facility that includes up to $400M of new equipment. (This does not include the agency’s administrative functions, which will remain at its Washington DC facility.) The new 1 million square foot one-story facility is projected to employ a workforce of 1,450 employees working three-shifts with an average annual salary of approximately $99,000. Of the current BEP production workforce at the District of Columbia facility, 68% reside in Maryland and 31% in Prince George’s County.
“Bringing the Replacement Currency Production Facility to Prince George’s County brings us one step further in achieving our goal of ‘federal parity’ as it relates to federal jobs in the County,” said David Iannucci, President & CEO of the Prince George’s County Economic Development Corporation. “The Bureau of Engraving and Printing will join the 16 other federal agencies located in the County, including the recently opened U.S. Citizenship and Immigration Services Headquarters in Camp Springs.”
This project also provides an opportunity to infuse federal dollars to improve the aging infrastructure and historic buildings on the BARC campus, as well as improve the traffic flow in Beltsville.
Moving forward, the BEP will begin the demolition of current buildings on the site by early 2023 and complete design of a LEED Silver Facility by end of 2023. Construction of the new facility is scheduled to begin by early 2024 and the first production line will move into the new facility by 2027.
To learn more about the Bureau, visit www.bep.gov. For more information about the services the Economic Development Corporation provides to local companies, visit www.pgcedc.com.
The mission of the Prince George’s County Economic Development Corporation (PGCEDC) is to cultivate and promote a strong local economy that supports the growth and prosperity of entrepreneurs and businesses, dedicated to strengthening communities through business development and job creation.
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