Port Commissioners consider surplus of industrial property

VANCOUVER, Wash. – Just one action item will come before the Port of Vancouver Board of Commissioners in its regular meeting on Tuesday, June 8, at 9:30 a.m. in the Commission Room at the Port of Vancouver USA headquarters.

Commissioners Jerry Oliver, Nancy Baker and Brian Wolfe will consider the surplus of up to 22 acres of industrial property in preparation for a potential sale to Farwest Steel Corporation, one of the leading distributors, processors and fabricators of specialty steel products in the northwest.  The potential $5,082,500 sale could bring 225 industrial jobs to Clark County.

Prior to considering the action item to amend the Port Comprehensive Scheme of Harbor Improvements and Industrial Development, which would allow surplus of the property, commissioners will take public testimony on the proposal. 

Surplus of industrial property process

Port industrial land must be designated as surplus by the board of commissioners and a public hearing must take place prior to sale of the property.  However, it is important to note that a decision to surplus the property does not necessarily guarantee sale of the property.  The two require separate actions by the commission.  In a future separate meeting, commissioners will consider strict criteria for the sale, including a minimum job requirement at the new facility.  The Farwest sales agreement includes a repurchase clause in the event of default on delivering projected jobs, or if the company decides to sell the land.  These covenants will ensure the commission’s criteria for the sale is protected.  It is anticipated that the commission will consider the purchase and sale agreement sometime in July. 

 Farwest Steel Corporation

Farwest operates several facilities in Oregon, Washington, California, Idaho, and Utah and hopes to consolidate some of their distribution processing and fabrication operations in Vancouver.  Approximately 100 jobs will be relocated to the port, with plans to add an additional 125.  Farwest will generate sought-after family wage jobs, paying average annual wages of approximately $40,000, with benefits.  The economic impact to the community will affect up to a total of 900 jobs benefiting from the consolidation.

Farwest plans to construct a $20 - $30 million facility that will contain its distribution, processing, fabricating and office support.  The Port of Vancouver USA location will allow the company to grow their business and take advantage of access to the national rail system.  The company projects receiving between 200 and 300 rail cars annually.

Farwest has been in operation for over 54 years as a steel distribution, processing and fabrication company, and has been seeking a location to consolidate a number of its operations.  The Vancouver location will help Farwest increase efficiencies for servicing customers in the northwest and other strategic markets.

The regular meeting will be televised live on CVTV (Cable channel 21) beginning at 9:30 a.m. It will also be streaming live on www.cvtv.org, and will be archived later in the day on the same website for future viewing.

About the Port of Vancouver USA

 The Port of Vancouver USA, created by Clark County taxpayers in 1912, is one of the major ports on the Pacific Coast. Its competitive strengths include available land, versatile cargo handling capabilities, vast transportation networks, a dependable labor force and an exceptional level of service to its customers and community.

The Port of Vancouver is in the midst of projects and developments that will lead to vital job creation, economic stimulation and environmental preservation. By diversifying its cargo mix between bulk commodities, breakbulk and project cargos, the port is responsible for job generation and significant contributions to the tax base for not only its own community, but also the state of Washington. Current expansion of the port’s rail system and development of new port industrial and marine properties will bring new jobs – both short term and long term – and the preservation of wetlands, the creation of enhanced wildlife habitat, and make way for more green/sustainable business partners operating from the port. For more information, please visit us at www.portvanusa.com.