Port of Vancouver receives $800,000 CERB loan

Port of Vancouver receives $800,000 CERB loan

VANCOUVER, Wash. – The Port of Vancouver announced today that it will receive an $800,000 loan from the Washington State Community Economic Development Revitalization Board (CERB). The funding will be used to make improvements to an existing port facility that are necessary before the aluminum extrusion company, Sapa Profiles, Inc., locates at the port.

“This loan will allow us to make necessary building improvements to attract a major employer to the region, and help bring nearly 100 family-wage jobs to Clark County where unemployment is still hovering near 13 percent,” said Port of Vancouver Executive Director Larry Paulson. “Our private sector partner Sapa Profiles, Inc. has a proven track record of success with tremendous potential for growth and will be a valuable new business in Clark County and Washington State."

The port and Sapa Profiles, Inc. are currently working toward a final lease agreement for the former Panasonic building, located at 2001 Kotobuki Way. The building has been vacant since the electronics manufacturing company closed its doors in 2008, laying off more than 200 fulltime and temporary employees. 

Total cost of the necessary renovations is $1.3 million and includes replacement of the building’s current asphalt floor with a reinforced concrete floor, as well as electrical and HVAC upgrades. In addition to the $800,000 CERB loan, the port will provide $500,000 in matching funds to complete the improvements. The private-sector investment by Sapa Profiles, Inc. in manufacturing equipment and additional facility upgrades is anticipated to be more than $8 million in the first 12 months of occupancy.  

Sapa Profiles, Inc. has 15 plants located in North America.  The Port of Vancouver location will be the company’s first facility in the state of Washington.

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. For more information, please visit us at www.portvanusa.com.

About CERB
The Community Economic Revitalization Board (CERB) is Washington's strategic economic development resource, focused on creating and retaining jobs in partnership with local government. CERB finances public infrastructure to encourage new development and expansion in targeted areas.