Farwest Steel Corp. has completed its purchase of 20 acres at the Port of Vancouver, where it will build a steel fabrication plant, the port said Monday.
The port’s sale of the industrial parcel for $5 million to Farwest marks the final step in the real estate transaction between the port and the company.
Eugene, Ore.-based Farwest plans to build a $40 million, 364,687-square-foot steel fabrication and distribution facility. Construction is expected to begin in July, with the site scheduled to open for business in 2012.
Farwest plans to relocate 100 jobs to the Vancouver site at first and eventually hire another 128 workers.