Approximately 130 waterfront acres in Bayonne will be freed up for redevelopment, thanks to IMTT, which on Wednesday said it plans to consolidate its existing bulk liquid storage operations on its 450-acre property.
The consolidation will enable IMTT to serve its bulk liquid customers more efficiently and attract additional economic development opportunities to the Bayonne area.
Even after the anticipated reduction in storage capacity, IMTT’s Bayonne terminal will continue to be the largest bulk liquids storage terminal in the New York Harbor area.
“We are pleased to announce that IMTT is consolidating a portion of the Bayonne terminal and embarking on a transformational development process for the eastern portion of the property. This will allow us to continue providing high-quality storage and logistics services on the west side of our property and pursue sustainable development opportunities on the east side,” Carlin Conner, IMTT chairman and CEO, said.
New Orleans-based IMTT has been operating its storage of bulk liquid products, especially energy transition fuels, feedstocks and petrochemicals, in Bayonne for nearly four decades. The company said it is committed to continuing to provide the services its storage and logistics customers rely on, while also preparing the east side of its property for commercial activity that will support growth in the community for years to come.
“We have been working closely with IMTT over the past year regarding the future of its Bayonne facility, and I am pleased that this plan will bring economic development and jobs to the city,” Bayonne Mayor Jimmy Davis said. “We look forward to working with prospective partners to leverage the significant advantages of locating their businesses at IMTT’s unique property. This is a great day for the city of Bayonne.”
Given IMTT Bayonne’s unique location, within a 15-mile radius of nearly 8.3 million people, the property is well suited for a wide variety of industrial and commercial uses. The property is also within a 3-mile radius of the Port of New York and New Jersey, the largest container port on the U.S. East Coast and one of the three largest in the nation.
IMTT is focused on leveraging its property’s unique attributes, including access to the IMTT-owned East Jersey Railroad, multiple deepwater docks and two interstate natural gas pipelines, to attract innovative and economic development to Bayonne, which is expected to generate a significant number of job opportunities and incremental tax revenue to the region.
