"This agreement with Axis will help revitalize the Brooklyn waterfront by creating jobs, attracting new industries and increasing waterborne transport to relieve truck traffic and improve our environment," says New York City Economic Development Corp. president Andrew M. Alper.

In September, scrap metal processors Hugo Neu Schnitzer East, said it planned to build a $25-million modern recycling facility at SBMT. That facility will create 160 construction jobs and 100 permanent jobs. Over the next 20 years, the city will give the firm all of the metal, glass, plastic and a portion of the mixed paper collected through recycling.

The marine terminal is located between 29th and 39th streets, and between the Bay Ridge Channel and Second Avenue. The EDC recently completed a $21-million project to stabilize the bulkhead on the piers at 33rd, 35th and 39th streets.