PASCO, WA - The Port of Pasco finalized the purchase of 300 acres of land for the development of a new industrial center.
The land is located about a mile north of the Port-developed Pasco Processing Center off of Highway 395 at the north end of Pasco.
Gary Ballew, Director of Economic Development with the Port of Pasco has been on the hunt for new property for years. After finalizing the deal, he's hit the ground running.
"We'll certainly see some food processing but we are interested in other industries as well. The potential for data centers, warehousing, logistics and some industries we haven't even thought of," Ballew said.
The land will remain in agricultural production while the Port begins planning and development of the site. The Port's vision is to replicate the existing Pasco Processing Center but with more additions.
The property was purchased for $6.5 million. Funding came from the Port's Economic Development Opportunity Fund and $2.25 million loan from the Hanford Area Economic Investment Fund Board. The purchase price includes water rights which can be used for agricultural and industrial purposes.
"It will bring in a lot of property taxes, that not only helps the port, but helps the city, the county, schools and then the Jobs. We want to make sure there's opportunities for people," Ballew said.
The Port expects full build out to take up to 20 years, but the timeline could change. The site will gradually be converted to industrial use as new businesses move in.
"So as soon as we have a customer come in we will be able to break ground," Ballew said.