Subaru of America Inc. has extended its lease with the Port of Vancouver until at least 2030 under an agreement approved by the Port of Vancouver’s Board of Commissioners this week.
With the extension, Subaru will remain with the port until Aug. 31, 2030, and two five-year options could extend the least to 2040. The port said it expects revenue during the remainder of the lease to exceed $7 million.
Subaru imports and processes vehicles on approximately 40 acres at the port, where it has been a tenant since 1992. In 2014, Subaru processed 81,718 vehicles in Vancouver, an 18 percent increase over 2013, the port said. About 150 Subaru and Auto Warehousing employees work at the site.
About 60 percent of the Subarus are loaded onto rail cars, while the rest are transported by truck to dealers in the Pacific Northwest.
