7b Presentation Draft Port Action Recovery Plan
Economic Recovery Framework Stephen P. Metruck, Executive Director Commission Recovery Motion 2020-06 Deliver early action recovery plan by April 28 with recommendations and options for Port investments to support recovery: The Port shall consider its fiscal, Port Employees and Partners legal, and equity responsibilities in all decisions made when applying Capital Program Investments these principles. Prioritize Economic Development and Community Investment Programs Maximize Partnerships to Leverage Funding and Impact 2 Commission Guiding Principles for Recovery In carrying out its planning and actions, the Port will align with the Commission's guiding principles of: Equity Sustainability Community engagement 4 Equity Framework for Recovery Core principles for economic recovery actions complement the Commission's directives on COVID-19 response: Integrate Values of Equity and Inclusion Prioritize the Most Vulnerable Mitigate Economic Loss Ensure Language and Cultural Competence Support Community-based Organizations 5 Portwide Economic Benefits Sea-Tac Regional Economic Impact: $22 billion in business revenue 150,000 jobs total (87,000 direct jobs) equaling $3.6 billion earnings $440 million in state & local taxes Port Maritime & NWSA Economic Impact: 20,000 jobs in Maritime & NWSA 5,500 jobs in cruise $900 million in economic activity $130 million in state taxes *2018/2019 Data 7 Capital Project Investments INTERNATIONAL ARRIVALS NORTH SATELLITE BAGGAGE OPTIMIZATION FACILITY MODERNIZATION MODERNIZATION Terminal 5 Modernization Central Terminal Project Upgrade 8 Capital Economic Impact Jobs multiplier: 1,300 port construction direct jobs per month generate 3,350 jobs total (direct, indirect, induced) Direct port expenditures per month associated with 1,300 jobs: 120,000 hours worked per month $5.5 million in wages paid per month $2.2 million in benefits rate atop wages per month 10 Capital Economic Impact $25 million in port direct expenditures multiplies to generate $50 million in business activity per month (direct and secondary) Many businesses benefit: IAF Program: 340 vendors, supplier, consultant, fabrication shops, and subcontractors. 24 MBE firms and 20 WBE firms received payments totaling $100 million so far. NSAT Program: 280 vendors, suppliers, consultants, fabrication shops, and subcontractors. 13 MBE firms and 21 WBE firms received payments totaling $12.2 million so far. 11 Direct Capital Trades MANY TYPES OF WORKERS Asbestos Workers Glaziers Roofers Brick & Cement Masons Heat & Frost Insulators Sheet Metal Workers Cabinet Makers Ironworkers Sign Makers Carpenters Laborers Sprinkler Fitters Drywall Applicator & Tapers Landscapers Surveyors Divers & Tenders Metal Fabricators Telecom Technicians Electricians & Electronic Technicians Millwrights Terrazzo Workers Elevator/Escalator Constructors Painters Tile Setters & Finishers Flaggers Pipefitters Truck Drivers / Teamsters 12 Tourism Tourism is the state's 4th largest industry Travel related employment is over 180,000 The Port of Seattle can help the tourism industry rebound by funding and participating in a collective marketing campaign Port staff has also worked to realign the Port's Tourism grant programs so projects that sync with this collective marketing campaign 14 Cruise Valuable contributor to region and state tourism industry Operations currently halted globally Confidence in protective health and safety measures is paramount We will work with the cruise industry and travel partners to restart and ramp up this business Industry has proven adaptive and resilient 15 Workforce Development Work with partners to Aviation Career support airport employees Pathways Initiative and employers PortJobs Career Advancement Center Port of Seattle Duwamish River Internship program Green Jobs program Note: The challenge for all workforce development initiatives during the COVID-19 pandemic revolves around providing quality online training and supportive services 16 Small Business Assistance Helping our Port tenants and small businesses that benefit from Port operations recover through these difficult economic times is essential. Existing partnerships are critical Small business needs are towards helping our small business glaring and significant partners get help and access to we can drive alliances that capital. provide immediate help Additional partnerships are needed to and support longer term help impacted small businesses at our resiliency. Port facilities, in disadvantaged communities and across the region. 17 Engagement and Outreach Inclusive stakeholder/community engagement and outreach Support our tenants, customers, employees, small businesses and our communities through inclusive, equitable and robust engagement Special emphasis: Duwamish Valley Community Partnership Federal, state and regional recovery coordination Partnerships to Maximize Funding Impact 21 Economic Recovery Plan: Proposed Timeline May 2020 June 2020 July 2020 December 2020: Financial Capacity Community Plan Commission update on recovery Analysis Engagement Implementation implementation efforts Action Plan Commission Issue RFPs for key Development Q1 2021: Report on lessons Committees recovery services Commission learned from initiative Committees Plan Communications Engagement planning Finalization and Engagement 2021 Quarterly: Recovery implementation update. 23
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