BALTIMORE, MD—Hellenic Cables Americas has agreed to build a new factory on 38 acres of land in Wagner’s Point in Baltimore.

The company is one of the largest cable producers in Europe. The factory is expected to create 120 jobs when it’s up and running.

The new plant will manufacture power and telecom cables for a variety of applications including renewable energy, offshore wind, and telecommunications. It’s expected to create hundreds of indirect jobs as a result.

The state of Maryland is applauding the decision.

“Maryland is proud to partner with Cenergy Holdings and Hellenic Cables to build a cleaner, greener, and more equitable future for all. By working together, we will create new jobs, make Maryland more competitive, and provide fresh pathways to work, wages, and wealth for more Baltimoreans,” said Governor Wes Moore. “Climate justice is economic justice. We don’t have to choose between a green economy and a growing economy–we can, and we will, choose both.”

An estimated 200 people will be hired during the construction phase of the project. Hellenic Cables says 120 people will be employed at the factory once it’s open. An estimated 250 indirect jobs will also be created to support construction and operations.

The company received a federal tax credit earlier this year to encourage it to build in Baltimore. The new factory is part of a larger effort by the state to bolster the manufacturing sector and create jobs.

“We’re proud to work with Hellenic Cables as they establish operations in Baltimore City,” said Maryland Department of Commerce Secretary Kevin Anderson. “This significant investment in our state will provide support for our manufacturing workforce and our energy sector, all while supporting our state’s pollution reduction plans.”

This article was written with the assistance of AI and reviewed by a human editor.