Portland City Council approves sale for new Wex headquarters
Aug. 22, 2017
PORTLAND, Maine (AP) — The Portland City Council has approved the sale of a parcel of city-owned land for South Portland-based Wex Inc.'s new global headquarters.
The Portland Press Herald reports (http://bit.ly/2vYzJaR ) the Portland City Council voted unanimously to sell the 1.1-acre lot to a developer for $3.3 million in a meeting Monday. Jonathan Cohen, of 0 Hancock Street LLC, says he plans to work with Wex to build a new headquarters able to house at least 450 employees at first.
Wex provides payment processing services for vehicle fleets and other industries.
Some residents say the city contradicted its focus on sustainability by selling land to a company that profits from fossil fuels.
Councilor David Brenerman says the sale will allow Portland to fund multiple services and bring good-paying jobs to the city.
Information from: Portland Press Herald, http://www.pressherald.com