Port of Kalama will roll into the New Year with several big projects on its plate, including the redevelopment of its boat marina.
The port’s 2018 budget also includes money for developing new industrial properties to attract more business and chipping away at a multiyear project for a 70-acre business park east of Interstate 5.
The port’s budget is down to $39.95 million next year from $44.4 million in 2017. Capital projects, totaling $30 million, will eat up most of the budget in 2018.
Next year, the port plans to spend $5 million to continue developing utilities, road and other infrastructure needed to make Spencer Creek Business Park near the Kalama River Road exit “shovel-ready.” The ongoing, multiyear project will add new mixed-use office, retail and light manufacturing space across from the new recreational Haydu Park on Kalama River Road.
The marina rehabilitation project is a carryover from 2017, when the port had originally planned to start the remodel. Port Executive Director Mark Wilson said the 40-year old marina needs major repair to keep it in good condition. The project will repair or replace concrete docks, replace the visitor dock, improve disability access and replace worn-out marina components. Marine renovation will cost $4.5 million, Wilson said.
This month, Longview-based JH Kelly will break ground on an $8 million, 110,000 square-foot light industrial warehouse. Already the port has announced two major tenants for the space: Marco Industries and Bridger Steel. Construction is slated to be complete in July. The port hopes the new building will allow it to meet growing interest in light manufacturing properties from prospective new tenants.
Those large-scale projects will be partly financed by the port’s $15.25 million in revenues, an increase from last year’s $14.4 million in revenue. Additional income will come from $1.75 million in grants plus $23 million in retained earnings (net income plus investments).
Also on the horizon for 2018: continued permitting hurdles for Northwest Innovation Works’ $1.8 billion methanol plant and the completion of McMenamins’ hotel and restaurant, which is slated for completion next year.