News flash: EDB helps land big recruitment win
Harbor Freight Tools will be the inaugural tenant of FRED310, a major new warehouse and distribution development covering 310 acres in Frederickson.
The national tool retailer’s build-to-suit lease will total nearly 783,000 square feet. The building is expected to be completed in the first quarter of 2024.
“Pierce County continues to be a great location for companies,” said Pierce County Executive Bruce Dammeier in a press release. “I’m excited for the large investment this will bring to Frederickson along with the jobs we are attracting from out of state with this facility.”
The EDB, Pierce County and Washington State Department of Commerce worked with site selectors to find the space. The recruitment win will result in 800 jobs over 5 years and $30 million in capital investment.
“This is a significant win for Tacoma-Pierce County and the entire Pacific Northwest region,” said EDB Vice President for Business Recruitment Sarah Bonds. “Harbor Freight Tools’ investment will create hundreds of quality jobs and strengthen our local economy. We are honored to have been part of this recruitment process and look forward to supporting Harbor Freight Tools as it grows its footprint in our community.”
FRED310 is being developed in a joint venture between Panattoni Development Company Inc. and Dallas-based Crow Holdings Capital. Up to 7 buildings totaling more than 3.8 million square feet are planned for the industrial park. In April, permits were approved for a 611,000-square-foot warehouse that will be built on a speculative basis in the development. Another large spec warehouse project is also in the works.