The Port of Tacoma announced plans to build a $300 million, 168-acre (68-hectare) container terminal on the industrial east side of Tacoma's Blair Waterway. The terminal will be leased to a container terminal operator, Yusen Terminal Tacoma, Inc., a wholly-owned subsidiary of NYK Line.

The plan was approved by NYK Line at its Board of Directors July 26 meeting in Tokyo, Japan.

The lease agreement will introduce Yusen Terminal Tacoma, Inc. (YTTI) to the Pacific Northwest. Another subsidiary of NYK Line, Yusen Terminals, Inc. (YTI), is currently operating a terminal in the Port of Los Angeles and now the NYK Group is expanding into the Puget Sound.

"This agreement introduces a new employer that will have significant and long-term positive economic impacts for our region," said Port Commission President Dick Marzano. "Construction will create hundreds of jobs in Pierce County and throughout Puget Sound. And when completed, this terminal will support Washington State's growing trade-based economy."

Peter Keller, President of Tokyo-based NYK Line (North America) Inc., says YTTI's move to Tacoma preserves and expands the positive economic impacts of NYK Line's business in the Puget Sound region.

"It was important for us to make a long-term decision about our growth, "Keller explained. "As we looked up and down the US West Coast, Canada and Mexico and considered our options for the future, it became clear that our greatest opportunity was here in the Pacific Northwest. The Port of Tacoma offers growth capacity, a robust road and rail system and strong community support."

"We have long sought to operate our own terminal in the Pacific Northwest. This facility features on-dock intermodal rail, which fits our operational preferences. Moreover, it provides NYK Line capacity for long-term success while providing Washington State with another strong export shipping option."

The YTTI terminal is expected to open in 2012. Designed for an annual throughput capacity of 1.4 million to 1.8 million teus (twenty-foot container units), the terminal will include a 24-acre intermodal rail yard and a 2,400-foot (731.5-meter) berth on the 51-foot (15.5-meter) deep Blair Waterway. The facility will feature up to eight super post-Panamax container cranes and initial design concepts favor rubber tire gantry (RTG) operations.

The $300 million project is projected to generate about 3,000 construction jobs during the two-year construction timeframe. The construction work will also generate about $19.5 million in taxes ($14.7 million at the state level, and $4.8 million at the local level).

Based on the capacity of the new terminal, it is expected that it will create about 3,200 new jobs throughout Washington State (1,800 new jobs in Pierce County, and 1,400 new jobs outside of Pierce County). These jobs are family-wage jobs, with an average annual salary of about $48,500.

In terms of the total economic 'ripple effect' of the new terminal, is expected to impact about 5,800 jobs throughout Washington State (3,500 jobs in Pierce County, and 2,300 jobs outside of Pierce County).

"NYK Line and Yusen Terminals, Inc. share the Port of Tacoma's environmental values," said Port of Tacoma Executive Director Timothy J. Farrell. "That commitment is reflected not only in the lease agreement, it will also play a key role in the design and operation of the terminal."

Keller said NYK Line and YTI have a strong record of environmental leadership in the maritime industry. "We have and will continue to set aggressive environmental targets for this new terminal development project.

Our objective is to build a facility that will be a model of environmental consciousness," h