If you’re looking for some positive economic news on this Wednesday afternoon, take a look at what’s happening down at the Port of Vancouver. Yesterday, the port announced the signing of a long-term lease with Sapa Extrusions, North America’s largest provider of extruded aluminum profiles.
Perhaps the most important part of Sapa’s new 15-year lease is that it enables the company to relocate one of its plants from Vancouver, British Columbia, to our Vancouver, bringing 100 family-wage jobs with it.
According to the port, a critical step in bringing Sapa to Vancouver was the port’s success in securing an $800,000 public facility improvements loan from the Washington State Community Economic Development Revitalization Board (CERB). These funds will be used for necessary building upgrades that include replacing the building’s asphalt floor with a reinforced concrete floor and electrical and HVAC upgrades. In addition to the CERB loan, the port will provide $500,000 in matching funds to complete the improvements, bringing the port’s investment to $1.3 million.
“Access to economic development tools such as the CERB loan program is critical in times like these,” said Port of Vancouver Executive Director Larry Paulson in a press release. “With Clark County’s unemployment rate continuing to hover right around 13 percent, our ability to make necessary improvements to a public facility is bringing a major private-sector employer to our community.”
The Sapa lease is hardly the only sign of life from the Port of Vancouver. United Grain Corporation’s expansion project is currently underway, brining much-needed construction jobs. And last week, the port announced the closing of the sale of 20 acres of industrial land to Farwest Steel – a deal that’s expected to bring up to 225 industrial jobs to Clark County.
So what does all this port activity mean for the rest of our business community? According to Eric Johnson, executive director of the Washington Public Ports Association, it’s a sign that more community growth and job creation is coming.
“Is it [port growth] an indicator for other sectors? Yes, ports tend to come out of business downturns more quickly, said Johnson.
“One of the most significant things that’s happening in Vancouver is you’ve got the private sector investing a lot of money in your community and that’s exactly what you want to see,” he added. “It [new investment] is a very healthy thing for our economy and one of the things ports are designed to do is to create the environment for that to happen.”
100 jobs from Vancouver to Vancouver? We’ll take ‘em.
Expanding waterfront export facilities? We’re on board.
Now it’s time to spread that development inland.
