USA: Port of Everett Commission Adopts USD 40 Million Operating and Capital Budget

On November 29, 2011, the Port of Everett Commission adopted a $40 million 2012 operating and capital budget.

The budget invests in business operations and construction projects that will help sustain family-wage jobs. The budget also plans for the port’s future obligations in crucial transportation infrastructure projects like the refurbishment of cargo handling equipment, dredging projects and a key on-terminal rail expansion. Other priorities include preparation for significant environmental cleanup efforts around the Port Gardner Bay.

“Despite this ongoing recession, the Port of Everett Commission has continued to make key investments in our infrastructure to support and enhance the value proposition of our three lines of business,” Port Commissioner Troy McClelland said. “We have also taken an aggressive position on cleaning up properties that have historic contamination with the plan of turning them back into job producing sites in the future.”

The budget forecasts an increase in shipping volumes, and does not propose layoffs or staff furloughs. The Port’s operations are self-supporting, but the Port collects a tax for construction and environmental projects. The Port will collect a property tax totaling $4.1 million in 2012, with average Everett-area household investing $78 annually in the Port of Everett.

Port District taxes, combined with earnings from port operations, will go toward the Port’s environmental cleanup projects and other infrastructure enhancements, including the restoration of the historic Weyerhaeuser Building. In 2012, nearly $12.5 million will be invested in capital projects that improve port facilities, generate construction jobs, increase the Port’s competitiveness and enhance community assets.

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Dredging Today Staff, December 8, 2011