The U.S. Bureau of Engraving and Printing (BEP/Bureau), an agency of the U.S. Department of the Treasury, is moving forward with locating its new facility in Prince George’s County. The 104-acre site, located at the U.S. Department of Agriculture’s Beltsville Agricultural Research Center (BARC), has been officially transferred to the Department of the Treasury, where it will house a new state-of-the-art and environmentally conscious production facility to print U.S. paper currency and other federal security products.
“Over the past three years, the U.S. Bureau of Engraving and Printing and the state of Maryland have worked closely on evaluating the potential for this Beltsville facility and determining how we can best work together to make this project successful,” said Governor Hogan. “Learning that the land has been transferred is another step in the right direction for moving this project forward. We look forward to seeing the Bureau and its hundreds of employees call Maryland home.”
The Bureau is currently in the design stage of the project and plans to wrap up design development by summer 2023. Construction of the new facility – which is being managed by the U.S. Army Corps of Engineers’ Baltimore District – is anticipated to be completed by early 2027, with currency production starting mid-year. The BEP is expecting to house at least 850 workers on site, with 600 additional employees working remotely.
The state and the Maryland Department of Commerce have supported the project since the Bureau announced Maryland was under consideration for the new site in 2019. The department has been involved with the selection process by coordinating conversations between the BEP and state agency partners, and facilitating the federal project’s needs to see how else the state can assist. The state is also working with the federal government and Prince George’s County on alleviating traffic and improving several intersections located near the new site, including Maryland Route 201, the Baltimore-Washington Parkway, and Powder Mill Road.
“Maryland is the perfect location for BEP’s new production facility,” said Maryland Commerce Secretary Mike Gill. “More than 60 federal agencies call Maryland home, along with dozens of military facilities and federal research and development labs. This Beltsville site will provide the convenience the BEP needs to increase its production and advance its manufacturing process, while providing a quality workplace for its employees.”
As previously reported by Maryland Commerce, building a new production facility in Beltsville will result in cost savings and efficiencies for the BEP, and shorten the commute for the 65 percent of Bureau employees already living in Maryland.
“County Executive Angela Alsobrooks has been a consistent advocate for the BEP’s move to Prince George’s County,” said David Iannucci, president of the Prince George’s County Economic Development Corporation. “We take pride in knowing that Prince George’s County will be one of only two locations in the country where U.S. currency is printed. Increasing the number of federal jobs, and federal investment, in the county have long been a key part of our strategic focus for growing the county’s economy. This $1.4 billion facility will be a meaningful part of future growth here.”
On their official website you can learn more about the Bureau of Engraving and Printing.
In 2021, it became evident once more that issuing a new banknote is not only a technical challenge but a political decision.
During the Civil War paper money was of crucial importance as you can learn in our Monetary History of the USA Part 2: Between Silver and Gold.
