Subaru has imported, processed and transported vehicles at the port since 1992. Today, roughly 150 Subaru and Auto Warehousing employees work at the port to process vehicles for sale in the U.S.
On Tuesday, the port’s Board of Commissioners unanimously approved a ten-year lease extension with the Japanese automaker. The company’s lease would have expired on August 31, 2020. The agreement also includes two five-year options that could take the lease to 2040.
According to port officials, revenue to the port over the remainder of the lease is expected to exceed $7 million.