Exhibit A

Minutes ExhibitA
Port Commission Special Meeting
of May 17, 2016
FHERMEN's    Potential Economic Value of Replacement
of the Alaskan Fishing Fleet
The Advocate for the Commercial Fisherman NEWS

www.fishermensnews.com


Number of Vessels    Number of Vessels Needed     Average Replacement
Fleet                                        Current         to Replace Current Fleet             Cost            Total Replacement Cost

AFA CatcherVessels                               83                                                      $1 ,41 1,000,000.00

AFA Catcher Processors                              15                  15                                     $2,025,000,000.00

AFA Mothership Catcher Vessels                        16                  is                                      $272,000,000.00

AFA Mothership Vessels                              4                  4                                      $800,000,000.00

Non-AFA Bering Sea Catcher Vessels                      13                  13                                      $208,000,000.00
Amendment 80 Fleet                             24                1s                                  $1,050,000,000.00
Western Gulf of Alaska Trawlers                          42                   34                                        $306,000,000.00
Central Gulf of Alaska Trawlers                           53                   42                                         $378,000,000.00

Freezer Longliners                                    39                   as                                        $1,638,000,000.00
Halibut Fleet (lFQ and CD0)                           635                                                            $951,000,000.00
Other Halibut Boats                                1090                                                            $825,000,000.00
Longline Catcher Vessels                               74                   19                   $3,000,000.00             $57,000,000.00
Jig Fleet                                              77                     14                     $1,000,000.00               $14,000,000.00
Groundfish Pot Vessels                               123                   61                  $15,000,000.00            $915,000,000.00
Bering Sea Crab Fleet                                79                   79                  $12,000,000.00            $948,000,000.00
Scallop Fleet                                                              3                   $15,000,000.00              $45,000,000.00
Alaska Seine Fleet*                                 400                  400                  $7,000,000.00           $2,800,000,000.00
Alaska Gillnet Fleet*                                 1 400                  1400                    $700,000.00             $980,000,000.00

*Approximate number of vessels in the Alaskan Fleet         4171                 2829
Total Replacement Cost
$15,623,000,000.00


Updated March, 2016
Prepared by:
Peter Philips, Publisher, Fishermen's News                                           The information contained herein is author's best estimate based on anecdotal best available data
(206) 2848285 peter@philipspublishing.com                                                                       2016 Philips Publishing LLC. All rights resen/ed.


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Remarksfrom Peter Philips to the Port ofSeattle Commission on May 17th, 2016.


My name is Peter Philips. I am a board member and former President of the Seattle Marine Business
Coalition and President of Philips Publishing Group, publishers of Fishermen's News and Pacific
Maritime Magazine, the journals of record for the West Coast and Bering Sea commercial fishing and
maritime industrial sectors.

Philips Publishing Group also produces the annual Bering Sea Fisheries Conference and the annual
Promise of the Arctic Conferencethe two industry events dedicated to the promotion of the Puget
Sound maritime industrial economy.


Firstly I'd like to recognize Kenny Lyles for his work at Fishermen's Terminal, and congratulate him on his
promotion.

Along with Ray Giometti and Ross Perry and their staffs, they have been the face of the port at
Fishermen's Terminal, and have represented you well.
l
l
I also want to recognize Scott Pattison, for the work he does at the port. Scott
may not be well known to
all of you, but he is one of the port's most valuable assets. Scott knows the West Coast maritime
industrial sector inside and out. He is an honest and articulate promoter of maritime
commerce on
behalf of local companies, and has our respect. He too represents to the port well.

I've just read through Joseph Gellings work and would like also to commend him on
a thoughtful, well
articulated and well researched document.


The commercial fishing industry in Puget Sound has never been healthier.

According to the best studies I've readthe Paul Sommers studies done for the City of Seattlethe
industry generated $5 billion annually through 2012, producing 23,000 direct jobs in King County, paying
an average of $70,750 per year.

I know you are all familiar with that study, and the other
more recent economic impact studies that
have come from it as I have heard all of you refer to it in past comments. Thank you.

The fishing industry on the West Coast of North America is rationalized for economic and biologic
sustainability. It is managed conservatively and responsibly to ensure future economic healthand to
perpetuate environmental and biologic diversity.

Our commercial fishing industry is arguably the best managed commercial fishery in the world.


Philips Publishing Group
2201 West Commodore Way
Seattle, WA 98199
(206)284~8285 www.PhillpsPublishingcom

Philips Remark, Page 2

The industry is strong today, and it is poised for incredible growth over the next twenty
years.

Federal legislation passed in late 2010 opened the door for the construction of
new Bering Sea fishing
vessels at a rate never before seen. Older boats are being replaced with modern vessels,
purpose built
for their fisheries, and possessing of the most sophisticated equipment to ensure maximum yieldand
maximum environmental and biological sustainability.

You have in front of you a spreadsheet we have developed at Fishermen's News to demonstrate the

economic potential of the Fishing Vessel Recapitalization Program. Presented and updated each year

at our Bering Sea Fisheries Conference, this data has been continually updated with input from
every
sector of the industry we represent. It is comprehensive and accurate.

The bottom line is that the economic potential for new vessel commercial fishing vessel construction
over the next 20 years is roughly $15 billion.

Cabotage laws like the Jones Act require that work to be done in the United States, and the Pacific
Northwest is best suited among all the regions to capture the vast majority of that work. Our maritime
cluster is sophisticated, diversified and economically developed.

Already, since 2011, four new big boats have been delivered from Northwest yards valued at almost
$100 million. Two more $40 million are waiting for their turn ...and that doesn't include the dozens of
gillnetters and seiners we've built recently: gillnetters run about $700,000 each, and seiners are in the
$3-5 million range.

The fishing industry is healthy, growing and well managed.
E
E
The Port of Seattle with your marine industrial land is unique among large public agencies to have
l
significant and direct role in helping grow this economic sector.

I encourage you as commissioners to take an active and vocal role in promoting
our local commercial
fishing industry.

In addition to being a vibrant economic sector in our economy, the fishing industry is important to
our
social and cultural heritage as well.

One of Seattle's new city council members Deborah Juarez, called out the fishing and maritime heritage
of our region in her opposition to the Occidental Street vacation last week. The maritime and
fishing
industries help set Seattle apart economically, and give
us a unique cultural identity which helps define

our quality of life.

Thank you all for you continued support of this important part of who
we are as Seattleites, and
Northwesterners.

##1##

Philips Publishing Group
2201 West Commodore Way
Seattle, WA 98199
(206)-284-8285 www.PhilipsPublishing.com

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