Vancouver, Wash., port closes land sale
Washington state's Port of Vancouver closed on the sale of 20 acres of industrial land to Farwest Steel Corp., a distributor, processor and fabricator of specialty steel products in the Northwest.
The $5 million sale is expected to bring up to 225 industrial jobs to Clark County.
'Selling property is not something the port does often or without careful consideration, but we are confident that the sale to Farwest is the right thing to do and will result in good-paying jobs for Clark County residents both in the short-term and in the long-term,' said Port of Vancouver Commission President Brian Wolfe, in a statement.
The port's board of commissioners decided last year to sell the property.
Farwest operates facilities in Oregon, Washington, California, Idaho and Utah, and plans to consolidate some of its operations in Vancouver. About 100 jobs will be relocated to the port, with plans to add 125 jobs.
At Vancouver, Farwest plans to construct a $40 million facility that would contain its distribution, processing, fabricating and office support. Construction is expected to begin in July, with the facility becoming operational in 2012.