Press Release: Port of Centralia Announces Centralia Station Developer and Anchor TenantMarch 9, 2017
FOR IMMEDIATE RELEASE
Kyle Heaton, Port of Centralia Executive Director
Phone: (360) 736-3527 Email: email@example.com
Centralia, WASH. — The Port of Centralia has partnered with Powell Development Co. to complete the Centralia Station project. This transfer of development rights is similar to the Port’s efforts in Park I with The Benaroya Company, whose Centralia Logistics Center is currently under development, and in Park II with Tarragon LLC, which delivered Michaels, Lineage Logistics, and Lowe’s.
Powell Development Co. has a successful track record throughout the Pacific Northwest. The Port Commission is confident its partner will bring high-quality companies to Centralia Station and will develop the project to a standard that the community will be proud of.
“The Port’s mission is to create opportunities for economic development in our community and we’ve done that with Centralia Station,” said Kyle Heaton, Port of Centralia Executive Director. “Now it’s time for the Port to take the next step forward with this project and transfer it to an experienced and respected developer who will bring Centralia Station from a planned project to a successful enterprise.”
The Port also announced that Powell Development Co. brings with them the opportunity to have Fred Meyer as the anchor retail tenant at Centralia Station. Heaton cautioned that this occasion marks only the start of a process and is by no means a done deal. “Successfully locating Fred Meyer to our community will require cooperation and participation with the City of Centralia, the Washington State Department of Transportation, and others,” said Heaton. “The Port Commission has been listening to the requests of its constituents and the message has been overwhelmingly in favor of Fred Meyer. They have been working diligently over the last four years to bring them in. We are confident that once these parties have had the opportunity to review the many positive economic impacts this tenant will have on our city and to see support from the community, they will pitch in and help Powell Development make bringing in Fred Meyer a reality.”
Centralia Station is a mixed-use development that promises to have a positive economic impact for generations to come. According to an independent study completed in October 2016 by the economic forecasting firm ECONorthwest, Centralia Station will bring the following benefits to the local community:
- The $53 million construction of Centralia Station would employ the full-time equivalent of 410 workers in Centralia, support 575 jobs throughout the entire local economy, and pay $4.6 million in state and local taxes.
- Once opened, the businesses at Centralia Station would employ 535 people in Centralia (698 in the entire local economy), earn over $118 million in annual sales, and pay almost $7.1 million in state and local taxes.
- Over its first ten years, Centralia Station would pay the present year equivalent of nearly $5 million in property taxes.
The full economic impact study can be found in its entirety here.