PORTLAND, Maine — A committee of the Portland City Council says South Portland-based Wex Inc. can move ahead with a plan to build a new global headquarters on land owned by Maine’s largest city.

The Portland Press Herald (http://bit.ly/2h8XzgB ) reports on Friday that the committee endorsed the payment processing company’s plan. A developer working with Wex wants to buy a roughly 48,000-square-foot lot near Portland’s eastern waterfront in a $3.3 million deal for city-owned land.

Developer Jonathan Cohen of 0 Hancock Street LLC says he plans to work with Wex to build a new headquarters able to house at least 450 employees at first. The developer says 200 more would join as the company grows.

The City Council’s Economic Development Committee says it has chosen Cohen’s plan over a competing bid.