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Tacoma Port Passes $63.6-Mil Fiscal Plan

TACOMA, WA-At its most recent meeting, the Port of Tacoma Commission has adopted a $63.6 million 2002 operating budget. The Port also plans on investing $127.1 million in capital improvements during 2002.

By Gina Binole | Updated on November 26, 2001

TACOMA, WA-The Port of Tacoma Commission has earmarked $63.6 million for its 2002 operating budget and $127.1 million for capital improvements in an effort to meet the needs of existing and future shipping line customers.

Of the $127.1 million invested in capital improvements during 2002, $27.9 million will be invested in improving the Port’s existing international container terminals. Another $18.9 million is earmarked for intermodal rail and road improvements.

The Port’s five-year capital improvement program calls for up to $403 million in new investments, both to expand existing facilities and terminals and build additional terminals. The Port Commission reviews and approves all capital improvement projects on a case-by-case basis, evaluating them in light of financial, market, and economic factors as well as the Port’s goal of creating 15,000 jobs by 2015 at wage rates 15 percent higher than the state average.

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