Kevin Plank's underdog story has become synonymous with Baltimore — the city his company Under Armour calls home.
Now his investment company, Plank Industries, is looking to rebuild an entire area of the city. Billions of dollars will be poured into Port Covington in one of the largest urban redevelopment projects in the country, which will include housing, retail and an entrepreneurial ecosystem.
"We often say that jobs are great, careers are better, and ownership is best," said Plank Industries CEO Tom Geddes. "If we can build a place that has a culture around entrepreneurship, small businesses growing into large businesses and general opportunities — we can give a boost to Baltimore City at a time when it is really needed."
The Port Covington project is already under way with the newly opened City Garage building, which houses three different arms — the Foundry, which is a maker space; Main Street, which is for companies who are pursuing Made in America products and services; and the Under Armour Lighthouse, a testing facility. Several companies, from a whiskey maker to a skateboard manufacturer, currently call City Garage home. Geddes said Plank Industries has invested some $10 million into some 12 businesses operating there.