The Port of Tacoma Commission has approved a ground lease with Saxum Investment Co. for a cold-storage and food-processing facility expected to create up to 400 jobs and generate up to $43 million in annual wages.
The project is on a 30-acre site between Taylor Way and Alexander Avenue on the Blair-Hylebos Peninsula. Subject to final design, Saxum expects to invest up to $250 million in the facility.
Saxum will finance and develop the project, which is expected to be completed within a 24-month construction period…