8a Presentation Maritime Innovation Center
Item No. 8a Date of Meeting May 14, 2019 Maritime Innovation Center Design Funding May 14, 2019 1 Maritime Innovation Initiative Progress Update Business Plan "The challenging times in all port related markets, like logistics, oil and gas, and Form advisory group maritime, require that we have a window on Develop MOU with WA State new technologies. [The] PortXL [Maritime Accelerator] helped us identify these Develop virtual incubator and trends, bringing new business models to accelerator our markets and challenging conventional businesses." Complete design work on Ship Supply building Paul Smits CFO, Port of Rotterdam Substantial progress since January 2 Advancing Maritime Innovation Seeking authorization for design services in support of developing Ship Supply building at Fishermen's Terminal. Requesting $1,750,000 Part of 2019-2023 Capital Improvement Plan Vision: Washington State becomes a world leading hub for sustainable maritime and ocean industries... 33 Maritime Innovation Center Mission: The Port of Seattle's Maritime Innovation Center will provide support required by marine When people think about and ocean-oriented companies in their effort to sustainable BlueTech modernize and/or innovate the maritime industries, we want them industry and create good-paying Blue Jobs. to think about Puget Sound in the same way the world equates finance with The Center will provide this support by making New York or technology use of its own facility as an incubator and with Silicon Valley. accelerator environment as well as by leveraging on local assets, resources and network Seattle becomes global leader in BlueTech 4 Innovation Center Strategic Objectives 1. Be a focal point for maritime innovation 2. Become a centralized information source to the BlueTech sector 3. Offer incubator and accelerator environment 4. Support investment in BlueTech start-ups and new technologies 5. Support workforce development and maritime career exploration 5 Innovation Center Services Business development assistance Professional network and relationship support Educational programs Out-reach services Facility-based services Virtual Services 6 Benefits to Incubator/Accelerator Companies Reduced barriers to entry Networking and mentoring Increased visibility and stature Increased company SURF Incubator in Seattlehelps early stage high-tech companies valuation Supporting Maritime Start-ups and Scale-ups 7 Governance Recommend that nonprofit partner operate innovation center Several types of nonprofit organizations could operate the Maritime Innovtion Center 8 Facility Location Criteria Accessibility Access to water Access to laydown area Proximity to Maritime Suppliers and Manufacturers Visibility Historic Preservation, Aesthetics & Ability to Leverage Capital 9 Site Evaluation Fishermen's Terminal (FT) site options ranked higher than Terminal 91 options: More proximate to suppliers and partners More visible and accessible Better access to water FT's Gateway and Historic Ship Supply sites ranked similarly Ship Supply slightly better based on historic preservation opportunity Capital development costs not considered 10 Financials Center will generate positive operating income for the Port from Year one onwards Center "operator" will be able to cover most of its operational costs from facility rental revenue 79% in Year 1 to 97% in Year 7 Center operator will need to secure contributions of approximately $ 72,000 annually for initial 5 years period 11 Proposed Building Improvements Abatement of regulated materials in existing structure Partial existing building demolition (timber structural framework to be preserved) Enhancement of structural piles and framework Construction of new MIC building core and shell Utility services removal and replacement New building perimeter and parking lot paving 12 Maritime Innovation Center Development Schedule Maritime/Economic Project Project Project 2018 2019 2020 2021 2022 2023 Development Project Sponsor Manager Complexity Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 T-91 Uplands ? Tim 3 Development Leonard Design Funding * Community engagement tasks will vary by project needs Community Engagement* Commission Approval Environmental Review Planning/Design Construction 13 13 Maritime Community Engagement Fishermen'sTerminal Master Planning (2015-2016) Madison Bay study: Interbay industrial market Multiple planning sessions, open houses and stakeholder meetings Need for meeting rooms/conference center Maritime Innovation Center Planning (2017-2018) SWOT workshop Online survey input from 150+ stakeholders Interviewed 35 Maritime stakeholders Facilitated design charrette The Port received significant input that helped focus the Port's innovation initiative and drive Maritime Blue 14 14 Enhancing Engagement: Washington Maritime BLUE Initiative A Strategy for accelerating the BLUE economy, technology innovation and sustainability in Washington's maritime industry. A Cluster Organization formed as the focal point for coordination, incubation, capital investment & commercialization. A Maritime Innovation Center to support R&D and commercialization of innovation technology through public/private partnerships. 15 Next Steps Develop MOU with WA State (July) Develop and pilot maritime incubator and accelerator initiatives (Q4) Fact finding Trips (Q3 and Q4) Advisory Committee Meetings Complete 60% design work on Ship Supply building (Q1 2020) Make decision on location of innovation center (Q1 2020) Advancing "Virtual Operations" as Port does homework on future location 16 Community Benefits Job creation Enhanced image Business development Industry innovation and sustainability Increased tax revenue Workforce development Meeting space for FT tenants and customers A hub for maritime innovation and education 17 APPENDIX 18 EXvting Pri i Fisherrmen6 19 An Ocean of Opportunity The global "Ocean Economy" is valued on a conservative basis by the Organization for Economic Cooperation and Development (OECD) at $1.5 trillion (2010) and growing to $3.0 trillion by 2030 Stakeholder Input: Room and Opportunity for Improvement 1. The Maritime industry does not enjoy the visibility or reputation that other industries enjoy in Seattle (ex. Aerospace and IT) 2. Washington's Maritime industry is not particularly innovative 3. The top three trends/opportunities for the Washington maritime sector include: Electrification Ship and vessel design innovation Marine renewables 21 Site Evaluation Site 1: Ship Supply Building Site 2: T91 Uplands Site 3: FT Gateway No Site Selection Criteria Weight Score Weighted Score Score Weighted Score Score Weighted Score I Accessiility 20% 3 0.6 1 0.2 4 0.8 4 = Facility is within 200 yards of public transit and within 20 minute commute from partners (UW Applied Physics Lab, Maritime Blue, etc.) 3 = Facility is within 1/4 mile of public transit and within 20 commute from partners 2 = Facility is within 1/2 mile of public transit and within 30 minute commute from partners 1 = Facility is more than 30 minutes drive from partners II Access to water 20% 4 0.8 2 0.4 3 0.6 4 = Facility is on fresh or salt water with moorage capacity 3 = Facility is within 1/4 mile of fresh or salt water - limited moorage capacity 2 = Facility is within 1/2 mile of fresh or salt water - limited moorage available 1 = Access to fresh or salt water difficult or not optimal III Access to laydown area for staging 20% 4 0.8 4 0.8 3 0.6 4 = Facility provides a laydown area 3 = Facility is within 200 yards of a laydown area 2 = Facility is within 1/4 mile of a laydown area 1 = Access to laydown area is difficult or not optimal IV Proximity to Maritime Suppliers and Manufacturers 20% 4 0.8 3 0.6 4 0.8 4 = Faciltiy is within 1/2 mile of machine shops and maritime suppliers (inc. chandlery) 3 = Facility is within 1 mile of machine shops and maritime suppliers (inc. chandlery) 2 = Facility is within 3 miles of machine shops and maritime suppliers (inc. chandlery) 1 = Facility not located in proximity to maritime supply chain V Historic Preservation, Aesthetics & Ability to Leverage Partner Capital 10% 4 0.4 3 0.3 3 0.3 4 = Faciltiy is historic and can leverage other capital $ 3 = Facility is new and can leverage other capital $ 2 = Facility is new but it may not leverage other capital $ 1 = Facility not located in proximity to maritime supply chain VI Visibility 10% 3 0.3 1 0.1 3 0.3 4 = Visible from Seattle arterials and surrounding streets 3 = Visible from property entrance 2 = Visibility possible from property entrance with signage or other building improvements 1 = Not immediately visible Total Scores 100% 3.7 3.7 2.3 2.4 3.3 3.4 Site Ranking 1 3 2 Fishermen's Terminal offers best location options for Maritime Innovation Center 22 Center Will Be Built on Partnership 23 Maritime Innovation Initiatives RDM Rotterdam Converted from a defunct shipyard into a new interdisciplinary space that supports events, technical training academy, an incubator, storage space with a wave tank, and other testing facilities Co-located with a senior secondary vocational school and a higher professional educational program Supported with funding from the European Commission, the Port of Rotterdam, and other sponsors Focused on maritime technologies and other ocean related verticals including innovative housing concepts over water and design 24 Maritime Innovation Initiatives - COVE Converted an old Coast Guard facility into a hub for scientific research, events, incubator space, ocean technology tenants, and workforce programming Significant government funding and support Focused on ocean technologies Governed by a nonprofit organization that is similar to a cluster, and its incubator is contracted out to another company that specializes in running incubators. 25 Maritime Innovation Initiatives Port XL "World's first Port Accelerator," spun out of the Port of Rotterdam, runs as an independent accelerator General co-working office space with fast- paced programming for startups that are selected through a competitive process in cohorts Two Seattle based companies have participated in the accelerator Value proposition is the connection to the port and a growing number of end-users at one of the largest ports in the world XL wants to open US office 26
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