7d supp
Item No.: 7d_Supp Meeting Date: June 9, 2015 2016 Maritime Business Plan June 9, 2015 1 Industry/Business Context Cruise industry continues to grow with vessels upsizing and increased focus on Asia Alaskan cruising market remains strong with interest in homeporting larger ships Seattle market is mature - moderate growth expected with passenger counts of 900K The number of pre/post cruise passenger visits is steadily increasing in the region Industrial properties market remains consistent and steady driving higher occupancy at port properties Cruise Business is mature, growing moderately and larger vessels expected 2 Industry/Business Context Bering Sea and Gulf of Alaska fisheries are the most sustainable fisheries in the world Alaska commercial fishing industry remains strong Alaska commercial fleet continues to homeport at Fisherman's Terminal & factory trawler fleet at T-91 Commercial fishing industry is revitalizing their fleet; building new boats to replace aging ones Recreational Boating customers are demanding higher standards at marinas driving modernization Grain outlook is strong for soy exports to China Legacy fishing fleets continue to homeport & revitalization of fleet has begun 3 Maritime: Mission, Vision & Alignment Century Agenda CEO Goals & Initiatives Maritime Division Mission Vision A vibrant working waterfront generating economic vitality for the region 4 Century Agenda Alignment Strategy: Position the Puget Sound as a premier international logistics hub IMPACT: Incremental growth 2010-2012 Added 1,600 Jobs and $1.5 Billion in business income growth Century Agenda Goal Double the economic value of the fishing and maritime cluster 5 Century Agenda Alignment Strategy: Advance the region as a leading tourism destination & business gateway Total Seattle Passengers 1999-2015 1,000,000 800,000 600,000 400,000 200,000 0 1999 2002 2005 2008 2011 2014 IMPACT: Over 3,600 Jobs due to the cruise industry in 2014 Century Agenda Goal Double the economic value of cruise traffic to Washington State 6 Century Agenda Alignment Strategy: Be the greenest, most energy efficient port in North America Terminal 117 before remediation after remediation IMPACT: Nearly 12 acres of habitat will be restored toward our 40 acre goal Century Agenda Goal Restore, create & enhance 40 acres of habitat in the Green/Duwamish Watershed and Elliott Bay 7 Maritime Division Overview Business Groups Key Maritime Properties Cruise & Maritime Ops Cruise Facilities Commercial Moorage T-86 Grain Terminal Recreational Boating T-91 Gen'l Purpose Terminal Industrial Properties Fishermen's Terminal Service Groups Maritime Industrial Center Marine Maintenance Shilshole Bay Marina Environmental Svs Bell Harbor & Harbor Island Finance & Budget Marinas Maritime Security & Industrial Properties Emergency Prep Public Access Sites Mission Enrich our maritime legacy by leveraging our properties to create waterfront opportunities & grow maritime jobs in a financially & environmentally sustainable way 8 Maritime Division: Portfolio of Properties Diverse maritime properties & activities have served the community for over 100 yrs 9 Maritime Division: Cruise Terminals Diverse maritime properties & activities have served the community for over 100 yrs 10 Maritime Division: Commercial Moorage Facilities Diverse maritime properties & activities have served the community for over 100 yrs 11 Maritime Division: Industrial & Commercial Diverse maritime properties & activities have served the community for over 100 yrs 12 Maritime Division: Recreational Boat Marinas Diverse maritime properties & activities have served the community for over 100 yrs 13 Maritime: Public Access/Environmental Sites Diverse maritime properties & activities have served the community for over 100 yrs 14 Maritime: Dramatic Growth Initiative Modernize Piers 66 & 90 for larger cruise vessels Develop Fisherman's Terminal Strategic Plan/obtain approval Fund/construct Shilshole Bay Marina bathroom facilities Develop waterfront habitat restoration into a line of business Develop business that optimizes utilization of port properties Leverage maritime properties to grow net income and economic benefit 15 Modernize Our Cruise Facilities Be Big Ship Ready Trending Bigger Pier 90 Calling Seattle Now Early 2000's Pier 66 Modernize our cruise facilities for the future and the upsizing of cruise vessels 16 Fishermen's Terminal Strategic Plan IMPACT: Preserving moorage for commercial fishing boats, has kept occupancy in the 74-84% range in recent years. Continue our legacy as homeport to the North Pacific Fishing Fleet for over 100 years 17 Modernize Shilshole Bay Marina Facilities Industry Standard Vintage 1960's Standard Today's Standard Current SBM Facilities Port of Everett Upgrade our recreational boating facilities to retain customers & foster growth 18 Maritime: High Performance Organization Operational Talent Valued Excellence Development Communication Deliver safe, compliant Develop staff capabilities, Provide information that operations and maintain bench strength and is clear, concise and port assets opportunities relevant Advancing workforce development and small business enterprise goals is a key priority Deliver operational excellence and develop our employees 19 Maritime: Policy Challenges Reinvestment in facilities for the future (Modernize for bigger ships and modernize marinas) Partnership with city/county on supporting maritime (industrial land use, permit conditions, transportation) Increase competitiveness of Puget Sound gateway (cost efficient and attractive to customers) Support diversified maritime revenue growth (adapting to new markets and lines of business) Adapt and respond to regulatory environment (changes more frequent/restrictive than competitors) 20 Stormwater Utility 21 Stormwater Utility: Transition to Port Operated Utility Stormwater Management Fees Paid to City: 1997 - 2018 $6.00 $5.40 $4.91 $5.00 $4.47 Tenants Port of Seattle $4.06 $4.00 $3.69 $3.36 $3.05 In Millions $3.00 $2.71 $2.26 $2.31 $2.04 $2.00 $1.40 $1.30 $1.05 $1.00 $0.83 $0.69 $0.69 $0.73 $0.51 $0.51 $0.40 $0.42 $- 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Next 5 years: $85-135 M investment in stormwater by Port/tenants; $23M in fees 22
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