Rehabilitating this facility is a great investment for us -- the facility itself is of tremendous value to TransPORT and the region, and a great location for our first port development -- it puts us in a whole new ball game.

Our goal is to create jobs within the port district, and we believe this will help us do that in that we'll be able to present property where businesses can locate with ready access to the river, a rail line and a four-lane highway.

This investment will allow us to take on the challenges of worldwide sources of supply.

This is a stand-alone project.

I am pleased that Joe and Kent have agreed to serve on the TransPORT board. Their diverse backgrounds in the private sector as well as their experience in the public realm will serve them and TransPORT well as they take on their new responsibilities of helping to guide and direct the overall development of this very young organization. We are fortunate to have such a dedicated board that will work diligently to capitalize on the many exciting opportunities TransPORT has on the horizon in the coming year. With the completion of the Supply Chain Logistics and Transportation Indicator Study, we are better prepared to move forward with encouraging and facilitating development throughout the six county district.

This team is charged with creating value in resort, mixed-use and urban construction and redevelopment for Noble's own investment account, as well as for strategic investment partners.