The Port of Seattle will host two community open houses to review its 2020 budget and five-year capital development plans for Seattle-Tacoma International Airport (SEA) and the Maritime and Economic Development divisions. The plans outline the Port’s blueprint to further invest in infrastructure, maximizing efficiency and service to benefit the economic and environmental vitality of our region.
Port Commissioners will receive a briefing on the preliminary plan to fund the Maritime and Economic Development division five-year capital plan at their October 22 public meeting. Seattle-Tacoma International Airport is primarily supported by funds generated by airport operations and passenger fees. Taxpayer dollars are not used for airport operations and projects, however, tax funds have been used for transportation and environmental projects near the airport. Maritime capital development is funded primarily by operating revenues and bonds purchased with a portion of local property taxes.
WHAT:
Community members are invited to learn about the Port’s preliminary 2020 budget and five-year capital development and investment plans at two upcoming open houses. Port staff will share information about investments at Seattle-Tacoma International Airport (SEA) and in the Maritime and Economic Development divisions. Staff will also share how the Port’s preliminary budget and five-year capital development plans respond to regional need by improving customer service, expanding economic activity across our region, and supporting healthy habitats and communities.
| WHEN: | October 22, 2019 | 5:30–7:30 p.m. |
| WHERE: | Port Headquarters at Pier 69 Atrium (sign in at the front desk) 2711 Alaskan Way Seattle, WA 98121 |
| WHEN: | October 28, 2019 | 5:30–7:30 p.m. |
| WHERE: | The Conference Center at SEA International Auditorium Conference Room 17801 International Blvd. Seattle, WA 98158 |
Capital development projects make up the largest share of the Port’s spending. The preliminary 2020 budget includes capital spending of $644 million, with $570 million going to Sea-Tac International Airport, and $74 million going to Maritime and other divisions. In addition to the Port’s capital spending, the Port will contribute 50 percent to capital investments in the Northwest Seaport Alliance for marine cargo projects, including the current construction transforming Terminal 5 into one of the nation’s premier international container terminals.
The Port’s preliminary 2020 operating budget forecasts revenues of $812 million and expenses of $472 million. The 2020 operating budget allows the Port to respond to needs of business and community stakeholders with stronger organizational capability, advanced sustainability, and an improved customer experience at Port facilities.
The Port of Seattle is in the second year of a five-year investment plan designed to make our region a competitive maritime hub. The investments focus on asset preservation and prioritize economic development where our natural advantages align to economic growth opportunities.
Contact
Peter McGraw | Corporate and Maritime Media Officer
(206) 787-3446 | [email protected]
