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Port of Vancouver secures $5.7 million for Centennial Industrial Park development

The Port of Vancouver USA announced this week 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, situated on the north side of SR-501.

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. The project was selected for funding because the 58-acre parcel is ready for development and estimated to attract $100 million in private-sector investment, according to the port.

“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.”

In a press release, the port said current site plans divide the light industrial-zoned property into seven buildable lots ranging from five to 11.1 acres, with the ability to be assembled into larger parcels. Infrastructure improvements, including the installation of underground utilities and the construction of roadways and sidewalks, will begin this month and be complete in July 2013.