About 450 Treasury Department jobs through the federal government will be relocating to Parkersburg, West Virginia from Hyattsville, Maryland as part of a move to consolidate operations.
The move would begin in 2013 and is expected to take three years.
U.S. Treasury officials announced in February that they planned to consolidate the Bureau of Public Debt (BPD) and the Financial Management Service (FMS) into a new organization called the Fiscal Service. BPD borrows money needed to operate the government, while FMS operates payment and collection services.
Treasury officials, who announced the planned merger in February, project the move to save $96 million over five years in management, administrative, and support service costs. In January, it completed a merger of the two organizations’ data centers, at an estimated five-year savings of $129 million.
The majority of Bureau of Public Debt operations are in Parkersburg, which sits right along the border of the Ohio River and is the third largest city in the state of West Virginia. Real estate there is much cheaper than in Hyattsville and according to the General Services Administration, which manages federal real estate, the move will help Treasury meet a directive from President Obama for agencies to more efficiently use their facilities.
Officials representing Prince George’s County and the State of Maryland were angered that the county overlooked other federal office deals, particularly a $450 million lease from the Department of Health and Human Services.
After hearing the news from Treasury officials, U.S. Rep. Donna Edwards (D-Md.) issued a press release Wednesday expressing disappointment and suggesting that workers receive help finding new jobs. “I expect that these workers losing their jobs will be compensated and provided opportunities to find new employment, and those remaining in Hyattsville will be guaranteed job security. I will continue to demand transparency and fair leasing practices on the part of the GSA to level the playing field. Prince George’s County deserves the opportunity to compete fairly in the marketplace,” she said.
Senators Barbara Mikulski and Ben Cardin, as well as Representatives Steny Hoyer, Chris Van Hollen and Elijah E. Cummings, all democrats, attached statements to Edwards’ condemning the move, which in turn could be an economy booster to West Virginia and the Mid-Ohio Valley.
Source: The Washington Post