Expanding shipping across the country
Before buying 550 acres in Portsmouth, VA to build a new terminal, Maersk, the world's largest container shipping company, called McGuireWoods Consulting. McGuireWoods Consulting led lobbying activities, negotiated incentives, and managed public relations, and McGuireWoods LLP handled the project's complex legal issues.
Maersk planned to spend $450 million on the terminal, one of the largest capital investments in Virginia history. But first the region needed to improve its infrastructure. With a deep knowledge of the legislature, government agencies, and an understanding of Virginia's level of commitment to economic development, McGuireWoods Consulting won significant incentives: $19 million from the Virginia Department of Transportation to build a dedicated freeway interchange; $6 million from the Department of Rail and Public Transportation to improve rail access to the site; $500,000 from the Governor's Opportunity Fund, to be matched by $745,000 from the City of Portsmouth; and a $9.3 million grant for on-site rail infrastructure from the Rail Enhancement Fund. In addition, McGuireWoods Consulting reduced city building permit fees and successfully changed two state laws related to dredging activities, saving Maersk millions of dollars. The company reaped additional benefits by participating in the Workforce Service training program and the enterprise zone program.
Building a World-Class Business
Maersk's investment nearly doubled the cargo capacity of Hampton Roads, cementing Virginia's major role in international trade. McGuireWoods Consulting continues to represent Maersk's interests in Virginia before the executive branch and the General Assembly.