Port of Vancouver USA Secures $5.7 Million for Centennial Industrial Park Development
VANCOUVER, Wash.—The Port of Vancouver USA announced today that a grant agreement between the Washington State Department of Commerce and the port was finalized in September, completing the steps necessary to secure $5.7 million in grant funding that will be used to develop 58 acres of the port’s Centennial Industrial Park.
The funding was provided through the Washington State Legislature’s “2012 Jobs Now Act,” a $1.1 billion capital budget package aimed at stimulating the state’s economy. Part of a package of port infrastructure projects put forth by the Washington Public Ports Association, the Centennial Industrial Park project was selected for funding because the 58-acre parcel is ready for development and the project is expected to attract an estimated $100 million in private-sector investment and create as many as 500 new jobs for the local community.
Situated on the north side of State Route 501 in Southwest Washington, Centennial Industrial Park encompasses 108 acres zoned for light industrial use. The property has proximity to a deep-draft shipping channel, key freeway freight corridors, and dual-carrier rail service by BNSF Railway and Union Pacific Railroad. In addition, a binding site plan and a development agreement for the property are in place between the port and the city of Vancouver, making the project fully vested.
“There’s good reason for the Columbia River Economic Development Council’s designation of this property as a development of county-wide significance, “said Curtis Shuck, director of economic development and facilities for the port. “It’s one of the most development-ready light industrial sites in Clark County, and thanks to the grant funding we can fast-track our site improvements to meet growing market demands, which is especially important now that the port’s industrial occupancy rate is 99 percent.”
Grant funding will be used to make infrastructure improvements to the first 58 acres of the park, which will support future development of approximately 550,000 square feet of manufacturing, production, warehouse and ancillary office space. Specific improvements include final site preparation, installation of underground utilities, construction of roadways and sidewalks, and the creation of a state-of-the-art stormwater management system.
The current site plan divides the property into seven buildable lots ranging from five to 11.1 acres, with the ability to be assembled into larger parcels to accommodate the dynamic needs of today’s marketplace. Infrastructure construction will begin in October of this year and be complete in July 2013. Each lot will provide sufficient area, width, depth and other physical attributes to develop one or more buildings and include the required parking, landscaping, and setbacks consistent with light industrial zoning requirements. The adjacent 50-acre parcel will remain available for future development.
Parcels at Centennial Industrial Park are available for sale or short- or long-term lease. For more information on doing business with the Port of Vancouver USA, contact the port’s real estate manager, Kathy Holtby, at 360-992-1114 or email@example.com.
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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 dependable labor force and an exceptional level of service to its customers and community. For more information, please visit us at www.portvanusa.com.