Port & Dakota Creek sign long-term contract
Published: Wednesday, Mar. 11, 2015
The Port and Dakota Creek have combined several contracts and signed a 40 year agreement for continued use of Port facilities.
Port Commission approved a new, 40-year lease agreement with shipbuilder Dakota Creek Industries, Inc. (DCI) at their regular meeting on March 5.
Hailing the agreement as a positive, long-term investment in the Port and in the community, Commission President Bob Eberle thanked Dick and Mike Nelson of DCI, along with DCI Lease Administrator Kathy Pittis. He also acknowledged Port staff members Teri Switalski, Jill Brownfield, Josh Beaner, and Interim Port Executive Director John Hachey for their work in facilitating the lease agreement.
The new lease term of 40 years includes two additional five-year option periods with annual Consumer Price Index (CPI) increases, and combines a number of separate leases with the Port, securing a valuable revenue source at the Marine Terminal.
Family-owned DCI has been a tenant of the Port's shipyard site at Pier 1 since 1977.
The company is one of the area's major employers of skilled labor, and a significant contributor to the local economy, employing an average of 390 employees last year.
DCI specializes in construction and repair of vessels up to 400 feet in length and is well known both locally and internationally for its quality and craftsmanship.
DCI has made significant improvements to the shipyard facilities, totaling more than $30 million.
Commissioner Eberle noted, "We are excited to continue to partner with a company that provides vital, family wage jobs."