Vancouver port has deal with Farwest steel

Vancouver port has deal with Farwest steel

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by Associated Press

kgw.com

Posted on May 19, 2010 at 9:01 AM

Updated Wednesday, May 19 at 9:05 PM

 VANCOUVER, Wash. (AP) -- The Port of Vancouver plans to sell up to 22 acres of industrial land to Eugene, Ore.-based Farwest Steel Corp., a move that could result in up to 225 jobs.

  Farwest Steel Corp. would pay the port about $5 million for the land, then spend up to $30 million to build a facility. Port officials said Tuesday that the Eugene, Ore.-based company could start construction by the end of June for a facility of more than 300,000 square feet.

   The Columbian newspaper reported that construction could start by the second quarter of 2011.

   Curtis Shuck, the port's director of economic development and facilities, said Farwest could become one of the port's larger employers.
   Port Executive Director Larry Paulson said the port usually doesn't work to sell land, but Farwest's project won't interfere with the port's rail service and the chance to create jobs was too good to pass up.
   Port officials will first propose making the property available for sale, then secure a purchase and sale agreement with Farwest. The port's Board of Commissioners must sign off on both steps.
   Officials said Farwest would relocate 100 jobs to the site on Lower River Road, with plans to add another 125. The company would transfer 30 jobs from another Vancouver site, and the remainder from facilities in Tualatin and Eugene, Ore.
   The new plant will indirectly create hundreds of additional jobs and generate $343,000 in yearly taxes and $2.9 million in one-time sales tax revenue during construction, port officials said.
   Farwest has operations in Oregon, Washington, California, Idaho, and Utah.
   "We have been looking long and hard throughout the region for a location that best suits our ability to grow and efficiently deliver quality products to our customers," Patrick Eagen, Farwest president and chief executive officer said in a news release. "The port had industrial land ready to build, with the right river, road and rail connections -- this is the best choice for us."


 

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