VANCOUVER, Wash. – The Port of Vancouver USA and AbSci LLC have agreed to cancel the biotechnology company’s lease at Terminal 1.

The port’s Board of Commissioners voted unanimously today to rescind the lease, which would have provided renovated office and lab space in the former Red Lion Vancouver at the Quay Hotel.

AbSci originally planned to relocate from its offices in Portland, Oregon, to the port’s waterfront development at Terminal 1 this spring. However, AbSci’s continued rapid growth due to significant industry interest in its SoluPro™ protein manufacturing platform means further investment in the port’s interim facility at the former hotel no longer meets the company’s needs.

“We’re pursuing an aggressive schedule for redevelopment at Terminal 1, which includes eventual demolition of portions of the Red Lion,” said port interim CEO Julianna Marler. “AbSci is growing and needs a facility that can support that growth and expansion into the future.

“It’s unusual for us to rescind a lease, but it’s important we support AbSci and our economic development partners as we all work to bring life sciences companies and jobs to Southwest Washington.”

The Columbia River Economic Development Council has been partnering with the port, AbSci, Greater Portland Inc and other partners for more than a year to bring the life sciences sector to Southwest Washington. CREDC will continue to work with AbSci to find a home in Vancouver that fits the company’s long-term needs.

“We’re encouraged by AbSci’s strong growth and commitment to relocating to Vancouver, even if it’s not at Terminal 1,” said CREDC President Mike Bomar. “Given the nature of AbSci’s technology and their ability to be an influential player in the biotech sector, we believe that they have the potential to serve as a catalyst in the efforts to attract additional biotech companies to Southwest Washington and we appreciate their ongoing collaboration on these efforts.”

“We appreciate the partnership that brought us to Vancouver,” said AbSci CEO Sean McClain. “This is a great place to work and live, and we look forward to finding our future home, contributing to the local community, and supporting the growth of the life science ecosystem in the region.”

Biotech at Terminal 1
The Port of Vancouver is working through the planning and Concept Development Plan process for Terminal 1, the port’s 10-acre waterfront redevelopment in downtown Vancouver. The port is pursuing an aggressive schedule; demolition of existing structures could begin this year and the first phase of construction could start in late 2017.

With this timeline in mind, the port has decided not to continue pursuing biotechnology at its interim facility at Terminal 1. Instead, the port will shift its focus to supporting CREDC’s strategic plan to target and attract this industry.

“As a public agency with an economic development mission, we play an important role in supporting our region’s efforts to develop the life sciences sector,” said port Director of Economic Development Katy Brooks.

“CREDC is continuing to work with our private developers to attract life science businesses to Terminal 1 and biotech at the waterfront is still a real possibility. Going forward, we’ll support our partners and the community infrastructure necessary for this industry to thrive in our region.”

– POV –

The Port of Vancouver USA is one of the major ports on the Pacific Coast, and its competitive strengths include available land, versatile cargo handling capabilities, vast transportation networks, a skilled labor force and an exceptional level of service to its customers and community. For more information, please visit us at www.portvanusa.com.