The International Port of Coos Bay in Oregon has signed a Memorandum of Understanding with Riverside, Missouri-based NorthPoint Development to build a multimodal container facility on the port’s North Spit, it was announced earlier this month.
The sides say they plan to finalize talks and sign a contract by the end of the year.
“With the recent closure of the Georgia Pacific Mill and other recent job loss in southwestern Oregon, the port sees this as an opportunity to rebuild the economic base for the region,” said Port CEO John Burns. “This is a project that has the potential to diversify the region’s economy and create employment opportunities both for the existing workforce and for future generations.”
When completed, the facility is expected to process more than 1 million 40-foot containers a year through the port via the Coos Bay Rail Line. It would also create 500 construction jobs and as many as 250 full-time permanent jobs.
The rail spur on the North Spit will stretch to the project area, with infrastructure improvements made along the line to accommodate double stack container movements, the port said, adding that the facility and rail improvements cost an estimated $1 billion.
Rep. Peter DeFazio, who helped to secure funding for improvements to the Coos Bay North Jetty and the rail line, applauded the port and the developer for teaming up on the project.
“This project will create hundreds of good-paying jobs on Oregon’s coast,” he said, “which will boost Coos Bay’s local economy and provide needed support to rebuild the economic base for the region.”