Good news for Maryland: They will have a new federal money printing plant

One of the federal government’s money printing plants is being relocated to Maryland.

After more than a century in Washington, D.C., the Bureau of Engraving and Printing will move to a $1.5 million facility in Prince George’s County.

The new facility will be constructed on a 104-acre property in Beltsville and will open in early 2027.

As per Maryland Commerce, the new facility will save the bureau money, increase efficiency, and reduce commute times for 65 percent of its employees who currently live in the state.

Maryland is getting ready for a new federal money printing facility

Maryland Governor Larry Hogan announced in April 2022 that the Bureau of Engraving and Printing would relocate its money-printing operation from Washington to Beltsville.

The new $1.4 billion complexes will be built on the Beltsville Agricultural Research Center’s grounds. In addition, the Bureau makes currency in a plant in Fort Worth, Texas, which opened in 1991 to satisfy increased demand.

The 104-acre Beltsville complex was formerly the largest scientific institution in the United States, with 17 research laboratories specializing in everything from hydrology to animal husbandry. The facility was later handed to the Department of Treasury, which is in charge of money printing in the United States.

In the last three years, the United States Bureau of Engraving and Printing and the state of Maryland have worked closely to assess the potential for this Beltsville facility and determine how they can best collaborate to make this project a success. Knowing that the land has been transferred is another positive step toward moving this project forward.

Since the Bureau announced Maryland was being considered for the new facility in 2019, the state and the Maryland Department of Commerce have backed the initiative. The department was active in the selection process by arranging interactions between the BEP and state agency partners and fulfilling the federal project requirement to see how else the state could help. Maryland Route 201, the Baltimore-Washington Parkway, and Powder Mill Road are among the crossroads near the new site. The state collaborates with the federal government and Prince George’s County to reduce traffic and improve safety.

The facility will print paper cash as well as other secure government documents. Washington produces over 40% of the country’s paper currency.

The Baltimore District of the U.S. Army Corps of Engineers will oversee the project, which is expected to be completed in early 2023, and the facility will be open from 2027. It is projected to employ a minimum of 850 on-site workers and another 600 remote workers once operating.

The current structure, which will be replaced, is located in Northwest Washington between 14th and 15th streets, directly south of the Holocaust Memorial Museum. Since 1914, that factory has printed money and is a significant tourist attraction.

Several intersections near the planned Beltsville site, including Maryland Route 201, the Baltimore-Washington Parkway, and Powder Mill Road, would be improved by the federal, state, and county governments, according to Hogan.

According to the Maryland Department of Commerce, the transfer will cut commutes for the 65 percent of Bureau of Engraving and Printing employees who reside in Maryland.

Maryland is the ideal spot for BEP’s new production plant. According to Maryland Commerce Secretary Mike Gill, it is home to more than 60 federal agencies, several military facilities, and federal research and development labs. This Beltsville location will give the BEP the flexibility it needs to enhance production and advance its manufacturing operations while also offering a good work environment for its employees.

Maryland is also being explored as a possible location for the FBI’s new headquarters. Greenbelt, Landover, and Springfield, Virginia are the three planned locations.

The United States Cyber Command and the National Security Agency are based at Fort Meade, a U.S. Army station in Anne Arundel County. The Food and Drug Administration is based in Silver Spring. The National Institutes of Health is based in Bethesda, and the National Archives and Records Administration is based in College Park.

The Secret Service, responsible for policing American currency, has a training facility near the Beltsville Agricultural Research Facility.

In a statement, David Iannucci, president of the Prince George’s County Economic Development Corp., said that they are delighted that Prince George’s County will be one of only two places where U.S. cash is printed.

Hopefully, this new facility will prove to be an integral part of Maryland’s future growth. So, let’s hope for the best.