PORT ANGELES — The Port of Port Angeles’ new 25,000-square-foot building, still under construction in the new composite campus near William R. Fairchild International Airport, officially has a tenant.
The port commissioners approved a five-year lease agreement with Angeles Composite Technologies Inc. on Monday.
“The lease with ACTI leads to jobs,” said Jeff Robb, port executive director.
ACTI is an aerospace manufacturing company that serves commercial and military markets.
The high-tech firm utilizes high-temperature autoclaves, advanced clean-room environments, high-level assembly operations and machining techniques.
For the first six months, ACTI will pay $11,025 rent, which is reduced from the contractual $22,050 by 50 percent, while the company is paying major startup and development costs.
The reduced rent will be repaid to the port later, during the remaining 4.5 years of the initial lease, Robb said.
The port also is constructing a second, nearly identical building on the campus.
The additional building will be constructed only as an insulated shell, with no floor, major conduits or piping, so it can be customized for future tenants.
The total cost of both buildings is $2,964,537, including taxes.
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Reporter Arwyn Rice can be reached at 360-417-3535 or at arwyn.rice@peninsuladailynews.com.
