EVERETT — Vigor Industrial is shutting down the Everett Shipyard.
The ship-building company has offered to pay the Port of Everett nearly $1 million to end its lease early. The deal has to be approved by the port commissioners, who are scheduled to vote on it at their Tuesday meeting.
In recent years, Vigor Industrial has done “minimal work” at the shipyard, which typically had only a skeleton staff of about 10, said Jill Mackie, a senior vice president with the Portland-based company.
With busier and bigger shipyards in Seattle and Tacoma, staying in Everett “no longer makes business sense for Vigor,” she said.
The company has about 2,500 workers across 12 waterfront sites in Alaska, Washington and Oregon. Workers already are shutting down the Everett site, which should close by the end of April, she said.
The Everett Shipyard focused on maintenance and repair work for Washington ferries when Todd Shipyards Corp. bought the privately owned company in 2008. Vigor Industrial then purchased Todd in 2011.
Vigor signed its current lease in late 2013, and it runs into 2025. To get out of it, Vigor Industrial has agreed to pay the port $918,515, and transfer ownership of its buildings, cranes and other property on the 3.6-acre site.
Vigor’s departure does not mean an end to shipbuilding on the Everett waterfront, though. Other shipyards have expressed interest in moving here, said Port Commissioner Glen Bachman.
Dan Catchpole: 425-339-3454; email@example.com; Twitter: @dcatchpole.