WEX breaks ground for Portland headquarters

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PORTLAND — Groundbreaking for the new WEX headquarters at Thames and Hancock streets was scheduled for Tuesday morning.

Built on what had been a city-owned parking lot, the building will be a four-story, 100,000-square-foot structure developed by Jonathan Cohen of 0 Hancock LLC.

The $3.3 million sale of 1.1 acres to Cohen was approved by the City Council on Aug. 21. On Oct. 4, the Planning Board approved the site plan for development.

WEX will shift its headquarters from 22 Gorham Road in South Portland to the building across the street from the Ocean Gateway Terminal, bringing as many as 450 employees in the move.

WEX, which provides payment processing services and technical support for businesses, was founded in 1983 as Wright Express.