Port of Seattle Schedules Review of Proposed 2020 Budget and Five-Year Plan, Continues Major Investments for the Region’s Future
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. You may read the full press release here, excerpted below.
Port of Seattle Open Houses
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 to 7:30
WHERE: Pier 69 Atrium (sign in at the front desk)
WHEN: October 28, 2019, 5:30 to 7:30
WHERE: Sea-Tac Airport Conference Center
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.