154 E. Bingen Point Way,
Bingen, WA 98605
509 493-1655
Fax: 509 493-4257
Email: POK@Gorge.net
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Wednesday, July 31, 2002Bingen Pt. - Bldg. 1D - CERB Funding Assistance |
News Release 7/29/02 For Immediate Release Contact: Dianne Sherwood (509) 493-1655 Port Steps Closer to Funding a New Building at Bingen Point The Port of Klickitat has been successful in their latest attempt to secure funding toward design and construction of a new 25,000-30,000 square foot light industrial building for Bingen Point. On July 18, 2002 the Washington State Community Economic Revitalization Board (CERB) approved the Port’s request for a $650,000 low interest loan toward construction of the planned facility. The loan will be structured to allow a five (5) year deferral of payments reflecting 0% interest, and, thereafter, 1% interest for years six (6) through year twenty (20) Pre-design and design grant funding has previously been awarded to the Port: $50,000 from the US Forest Service (USFS) and $50,000 from the Washington State Office of Trade and Economic Development (OTED). The Port selected DSP Architecture of Vancouver, WA for the design and construction management of the project. Bell Design Co., of Bingen, WA, will assist DSP on the project. Klickitat County has pledged $500,000 toward construction. The new facility will allow the retention and expansion of two of the Port’s existing tenants. Innovative Composites Engineering (ICE), a carbon tubing manufacturer, has outgrown their 9,750 sq. ft. facility at Bingen Point, and anticipates fully occupying the new, larger facility which will allow for expansion. ICE has been a tenant of the Port since 1995, and currently employs 15 full-time employees. The new facility will allow ICE to grow to 24 full-time employees. The Insitu Group, a research and development firm specializing in miniature robotic aircraft, has been a Port tenant since 1996 and will be expanding into the 9,750 sq. ft. building that ICE will vacate. Insitu has recently received a multi-million dollar contract from Boeing, which will increase their employment from 16 full-time employees to 48. Together with funding received from USFS, OTED, CERB and Klickitat County, the Port will utilize existing funds, and will secure bonds or other financing, to begin construction of the $2.4 million facility and infrastructure improvements in the late fall. |