Farwest Steel Will Build Facility at Port of Vancouver
West Coast service center company Farwest Steel Corp., Eugene, Ore., has purchased 20 acres of land at the Port of Vancouver USA. Farwest will construct a distribution, processing and fabricating facility at the site.
“This is a good day for the port and our community,” says Port of Vancouver Commission President Brian Wolfe. “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.” The $5 million sale is expected to bring up to 225 industrial jobs to Clark County.
Part of the process was development of an agreement between the port and Farwest that set strict criteria for the sale, including a requirement that the land be used for industrial purposes; a minimum job requirement; and a repurchase clause if the company does not start construction within 12 months, decides to sell the land or ceases operations. These covenants ensure that the commission’s criteria for the sale are protected.
Farwest operates several facilities in Oregon, Washington, California, Idaho and Utah and plans to consolidate some of its operations in Vancouver. Farwest plans to construct a $40 million facility that will contain its distribution, processing, fabricating and office support. Construction is slated to begin in July, with the facility being operational in 2012.