Washington’s State Community Economic Revitalization Board has awarded a $100,000 grant and $665,000 loan to the Pinnacle Construction project at Port of Chehalis.
This prospective development will begin with site preparation, with earthwork, roads, underground utilities and storm water management infrastructure, which will result in a nine-acre building pad.
Port officials estimate as many as 234 jobs will be created and upwards of $30 million will be invested in the Pinnacle project. The CERB funds are matched by $1.4 million in local resources for this first building stage of the development.
“Washington’s economy was the fastest growing in the nation last year, yet we know that many parts of our state are not full participants in that prosperity,” said Brian Bonlender, Director of the Washington State Department of Commerce.
The release of CERB funds to these projects is contingent upon each applicant completing specific pre-contract requirements, such as finalizing other funding sources and obtaining necessary permits.