The Port of Everett has inked a Memorandum of Understanding with Kansas City-based industrial developer NorthPoint Development, LLC to help attract companies to the 4,000-acre Cascade Industrial Center in North Snohomish County, the port revealed this week.
The MOU allows the parties to team up on efforts to draw importers and exporters, develop recruitment leads and take part in a new Center of Excellence for Mechanical Engineering that’s focused on instrumentation and fabrication, the port said.
The MOU also allows the port to broaden its Foreign Trade Zone outside the port district to “create magnet ‘tax-free’ zones within NorthPoint’s development site, providing an attractive business incentive and a recruitment tool to foster new shipping opportunities and cargo diversification efforts,” according to the port.
“NorthPoint is a first-class company and community developer,” Port CEO Lisa Lefeber said. “We look forward to strengthening our partnership with NorthPoint and working collaboratively to leverage the valuable investments being made here with the port’s international Seaport logistics and our unique economic development tools we hold as a Port District, including our FTZ expansion capacity.”