The Port of Seattle Commission has approved i2019 budget and 2019-2023 capital investment plan or future budget blueprint. The five-year capital development plan outlines the port’s blueprint to invest $348 million to maximize the economic and environmental vitality of Seattle’s working waterfront in the face of significant industry changes.
The budget includes $100 million for a new cruise berth (assuming 50 percent tenant cost share); $39 million for development of Terminal 91 uplands, and $35 million for berth replacement at Terminal 91.
“Our aviation and maritime industries are among this region’s most recognizable and reliable sources of opportunity,” said Port of Seattle Commission President Courtney Gregoire in a prepared statement. “This budget and five-year blueprint advances our region’s status as a premier global gateway and makes transformative infrastructure and environmental investments to attract future opportunities consistent with our region’s values.”
The 2019 budget continues major investments in facilities and customer service at Seattle-Tacoma International Airport, as well as investments in the maritime and economic development divisions.
The Port’s 2019 budget spends 51 percent of its $1.94 billion funds on capital expenditures and 23 percent of its budget on operating expenses. The 2019 budget includes $935 million in major capital development programs at the airport, such as the new North Satellite, International Arrivals facility, and high-speed baggage program.
The 2019-2023 budget blueprint also advances more than 20 key maritime and economic development projects to maintain port assets, advance maritime industries, and invest in communities and the environment between 2019-2023.