A 75-year lease between The Oregon International Port of Coos Bay and NorthPoint Development has been executed. The agreement paves the way for development of a container facility on Coos Bay’s North Spit. According to Port Officials, the development will result in rail served port processing of over one-million containers annually. CEO John Burns says the construction will be an estimated $1.7 billion dollars. It will also result in an estimated three thousand short term jobs during construction and five thousand long term family wage jobs once construction is completed. A US Department of Transportation Mega Grant Application has been submitted for over one-billion-dollars to support the necessary infrastructure improvements. Officials say permitting will take approximately two years before construction begins.
