A long-shuttered gunpowder factory along the Delaware River is set to become a privately owned port in a major deal announced by officials on Friday afternoon.

State Sen. President Steve Sweeney led a press conference in Greenwich Township to announce the sale of the township's former DuPont Repauno plant to Fortress Investment Group, which aims to turn the dormant 1,800-acre property into a port-related industrial park for imports and exports.

"This has been a very long journey," Sweeney said about the more than nine years of marketing, searching and negotiating of the sale of the plant, a brownfield site that's been the subject of environmental remediation by state and federal agencies.

"We finally got to the place we wondered at times if we would," said Greenwich Mayor George Shivery. "This is a great day for Gibbstown ... We're talking about jobs, talking about ratables and we're talking about bringing Gibbstown back to the level it was 20 years ago."

Friday's announcement capped off years of discussion about what the plant could become in its next life, with talk of a port being considered since at least 2011.

Unlike the Port of Paulsboro -- another project long in the works that has gained traction recently as its first tenant was announced last fall -- the entire port will be privately owned by Fortress, a New-York based investment group that invests in and operates ports.

"That's what they do, and they do it with private sector capital, not government money, which is the win-win-win for everybody," said Sweeney, who declined to divulge the total value of the sale besides to say "It's a lot of land."

He also said the shortage of ports means the privately owned port will not draw tenants or funds away from the Port of Paulsboro, which will have three berths. The new port at Repauno is set to have two, said Sweeney.

"There's actually a need, there's an area of growth in ports and we want to be a part of that growth. That's where the good-paying middle class jobs are."

While months of studies, permitting and other approval processes must be complete before Fortress can get to work at the site, it's possible the port could include import and export facilities for automobiles and warehousing, said Managing Director of Fortress Investment Group Joe Adams.

The site's rail connectivity, proximity to major highways and access to a part of the Delaware River that requires less dredging than Pennsylvania ports gives the site "great potential," said Adams, adding the company has had success in similar ports in the Florida Everglades, the Port of Miami and a port in Beaumont, Texas.

While the site spans more than 1,700 acres, 1,500 are wetlands or undeveloped land that officials said will remain so to provide a buffer for nearby communities.

"Anytime you can create economic development that doesn't impact the environment or surrounding communities, it's a win-win for everything," said Freeholder Director Robert Damminger. "I think this will be a fantastic thing all around."

He said seeing DuPont "rise from the ashes" means a lot to Greenwich, especially to Deputy Freeholder Director Joe Chila who grew up there.

"When you work hard, good things happen. Partnerships are really the key here," said Chila. "I'm very happy for the citizens of Gibbstown."

Despite the time it took, Sweeney said Democratic leaders and the Republican administration of Mayor Shivery maintained a bipartisan cooperation, despite the whispers, criticism and rumors coming from both sides.

"We put all the political differences and BS aside and focused on job creation," said Sweeney. "The only way this state is going to regain its greatness is through jobs."

Adams said the progression of the site's revival will be governed by how long the permitting process takes, likely more than three months.

Assemblyman John Burzichelli of neighboring Paulsboro, who also praised Sweeney for his "laser focus" in securing the deal, said the state will "react in a nimble way" to make sure the process moves "properly, thoroughly, but quickly" in an effort to jumpstart development.

"We want to build this thing," said Burzichelli. "Let's put people to work."

Michelle Caffrey may be reached at mcaffrey@southjerseymedia.com. Follow her on Twitter @ShellyCaffrey. Find the South Jersey Times on Facebook.