Commissioners                                             Tay Yoshitani 
Chief Executive Officer 
Stephanie Bowman 
Commission Co-President 
Courtney Gregoire                      P.O. Box 1209 
Commission Co-President          Seattle, Washington 98111 
Tom Albro                        www.portseattle.org 
Bill Bryant                                206.787.3000 
John Creighton 
APPROVED MINUTES 
COMMISSION SPECIAL JOINT MEETING SEPTEMBER 30, 2014 
The Port of Seattle Commission met in a special meeting Tuesday, September 30, 2014, together
with the Port of Tacoma Commission at the Fabulich Center, 3600 Port of Tacoma Road, Tacoma,
Washington. Port of Seattle Commissioners Albro, Bowman, Bryant, Creighton, and Gregoire were
present. Port of Tacoma Commissioners Bacon, Johnson, Marzano, Meyer, and Petrich were also
present. 
CALL TO ORDER 
The special meeting was called to order at 10 a.m. by Clare Petrich, Port of Tacoma Commission
President. 
PLEDGE OF ALLEGIANCE 
OVERVIEW: JOINT ECONOMIC IMPACT STUDY 
Presentation materials provided: 
Presentation. 
Study titled the Economic Impact of Marine Cargo at the Ports of Tacoma and Seattle by
Martin Associates. 
Julie Collins, Director of External Affairs, Port of Tacoma, introduced the joint economic impact
study presentation and noted the contributions of Port of Seattle Corporate Budget Manager
Michael Tong, who assisted in bringing the study forward. John Martin Associates conducted
individual studies for each port, as well as a joint study of the economic impact of the two ports
together.
Chris Mefford, President, Community Attributes Inc., presented the joint economic impact study
prepared by Martin Associates, including the following key information:
The joint study is not simply an aggregate of the information in the individual port
studies. Economic impacts of the two ports overlap and simply combining the two would
result in double counting. 
The joint study was limited to marine cargo and does not account for other lines of
business of each port, such as cruise or aviation activities. 

Digital recordings of the meeting proceedings and meeting materials are available online  www.portseattle.org.

PORT COMMISSION JOINT MEETING MINUTES                 Page 2 of 3 
TUESDAY, SEPTEMBER 30, 2014 
Internationally, the ports of Tacoma and Seattle are viewed as a single Pacific Northwest
gateway for exports and imports.  Both ports have a shared interest in regional
infrastructure and together influence major sectors of the state's economy. 
Advantages to viewing the ports as a single gateway include understanding the joint
expertise and managerial experience and a combined regional labor force represented
by the ports together. Joint interest in regional marine and transportation infrastructure
is also clearer when viewing the ports as a single gateway. 
When viewed separately, the ports rank ninth and twelfth largest in the U.S. when
measured by amount of cargo processed in TEUs (twenty-foot equivalent units). When
viewed jointly, the ports rank third largest among U.S. gateways. 
Direct economic impacts of the two ports were measured in part through surveys and
interviews with over 1,000 businesses and include jobs and activities directly involved in
provision of port services. Management of the ports, provision of dock and terminal
activities, and shipyard activity are examples. 
Indirect impacts include business-to-business spending for supplies and supporting
industries. 
Induced impacts result from the spending of wages of employees engaged in direct or
indirect port-related activity.
In 2014, Washington's gross domestic product (GDP) was reported as $409 billion. The
two ports' marinecargo activity directly generated $4.3 billion in business revenue
statewide. The two ports' combined total marine cargo economic impact through direct
and indirect or induced activity was $138 billion, roughly a third of the state's total GDP. 
There are approximately 18,900 direct jobs associated with the two ports' marine cargo
activities.
Revenue by business category and commodity type were highlighted. By far the largest
business category associated with direct port revenue is rail; the largest commodity by
far is international cargo. 
There are approximately 11,100 indirect jobs associated with the two ports' marine cargo
activities. The figure is proportional to the degree particular jobs are influenced by port
activity.  Parts and equipment suppliers, fuel, maintenance and repair, and similar
services are represented by these jobs. 
Jobs associated with induced port economic impact are estimated at 18,100. These jobs
represent spending for housing, food, health care, and similar activities. 
It is estimated that direct, indirect, and induced income from the two ports' activities
results in $4.1 billion in total income. 
Local and state fiscal impacts of maritime cargo activity were described. 
In discussing the relationship between induced port-related income and overall statewide
fiscal impact, it was noted that the latter represents slightly less than 10 percent of the
former, which approximates the state sales tax. 
Since 2000, TEU volume of the ports of Seattle and Tacoma has remained more or less
level, while volume for West Coast ports, including Canada and Mexico, has risen. The
resulting market share has dropped from about 15 percent to roughly 9 percent. 
Investment requirements to accommodate ever-increasing container ship size were
discussed. The rate of change for increased ship size has accelerated since 2000. The
trend toward larger vessels is driven by industry consolidation, rising fuel costs,

Minutes of September 30, 2014, proposed for approval on June 23, 2015.

PORT COMMISSION JOINT MEETING MINUTES                 Page 3 of 3 
TUESDAY, SEPTEMBER 30, 2014 
expanded use of the Panama and Suez Canals, trade growth, competitive forces, and
the ability to preserve thin margins by reducing the cost per unit shipped. 
Risks for the two ports associated with increasing ship size include investments by
competitor gateways to accommodate larger vessels, expanded port competition
associated with expanded Panama and Suez Canal use, and the need for regional
transportation infrastructure improvements to move cargo from the ports to its intended
customers. 
Opportunities for both ports as a gateway were highlighted. 
Several comments were made about the need for the state Legislature to pass a
transportation improvement package that would help keep the ports connected to
domestic and international markets. 
Commissioner Johnson noted that induced economic impacts are highly influenced by the level of
employees' discretionaryincome and would be considerably less for workers earning minimum
wage than for port-related employees, who tend to earn significantly more. 
In response to Commissioner Albro, Mr. Mefford commented on the limitations of the economic
impact study to a sphere of influence that tends to be localized to Pierce and King Counties. The
effects of port operations on agricultural exporters from eastern Washington is an example of an
impact that might not be comprehensively covered by the study. 
Commissioner Gregoire pointed out that the direct and indirect economic impacts reported by
Martin Associates reflect marine cargo business. They do not account for other port lines of
business such as cruise or aviation. 
Commissioners Bowman and Marzano commented on the value of the two ports' state fiscal
impact of $231 million in terms of the cost of statewide transportation projects. 
Commissioner Albro noted the similarity in the quality of the two ports' economic role to that of a
utility in terms of being far-reaching but less obvious from a business perspective. 
Commissioner Bryant commented on the urgency involved in completion of SR-167 and SR-509 in
order to provide reliable transportation connections that can incentivize shippers not to send cargo
through the Suez and Panama Canals. 
Commissioner Bacon noted that Harbor Maintenance Tax reform represents another important
opportunity for the competitive position of the Puget Sound gateway. 
ADJOURNMENT 
There being no further business, the special joint meeting was adjourned at 10:56 a.m. 
Tom Albro 
Secretary 
Minutes approved: June 23, 2015. 

Minutes of September 30, 2014, proposed for approval on June 23, 2015.