| The Suquamish Tribe has purchased a business park off Highway 305, to diversify its businesses, which include the Clearwater Casino Resort, Kiana Lodge and the Masi Shop. Port Madison Enterprises (PME) recently completed the land deal for the 6-acre Agate Pass Business Park, between George Lane and Totten Road on the Port Madison Reservation.
Since PME opened the casino in 2002, the company has been working toward diversifying to reduce the proportion of revenue that comes from the casino. “My goal is not to have all our eggs in one basket,” PME Chief Executive Officer Russell Steele said. PME is shooting for a 50-50 mix — 50 percent of its revenue from casinos, and 50 percent from other business ventures and predicts it could reach that goal in the next five to seven years.
The Agate Pass Business Park is home to a broad range of tenants, including a storage business, a coffee business and an engineering firm. There are 16 tenants. Space is available for additional development. |
