7a supp
Item No.: 7a_supp Meeting Date: August 5, 2014 2015 Seaport Business Plan August 5, 2014 Fishing and Maritime Cluster PUT PASSENGERS ON SHIPS MAKE SHIPS OUTLINES Container and Cruise Ships Continue to Upsize East Waterway Deepening -51' to -55' MLLW Dock Strengthening & West Waterway T-46 Deepening -51' to -55' MLLW Berth Deepening T-30 T-5 T-18 Power Upgrades 4 Business/Industry Context Seaport Capital Spending Forecast Seaport Net Operating Income Forecast Committed and Business Plan Prospective Projects $'s Millions $'s Millions 80.0 140.0 120.0 70.0 100.0 100.0 16.0 60.0 80.0 50.0 60.0 50.0 40.0 20.0 40.0 9.0 16.5 20.0 31.9 32.0 25.7 18.4 16.0 30.0 0.0 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2014 Bud Frcst Current Frcst All Other T5 Modernization Waterway Deepening 2014 Bud Frcst Regional Investments Timeline Terminal Improvements Paving Stormwater Crane Rail Extension Dock Repair T-46 Development Program Local Economic Impact of Cruise Fishing and Maritime Diversify and Grow Seaport Revenue Fishing & Seafood Processing North Harbor Island Mooring Dolphins 8.6 Billion business revenue Maritime Industry supports 148,000 indirect jobs 15,400 direct jobs $70,800 average annual salary Environmental Remediation Terminal 117 after remediation Terminal 117 before remediation Total Stormwater requirements: Next 5 years $85 to $135 Million investment in stormwater by Port/tenants & $23 Million in stormwater fees $23 million could be used to repair and replace 16 miles of Port owned stormwater pipes. SWM Fees to City: 1997 - 2018 Tenants Port of Seattle $6.00 $5.40 $4.91 $5.00 $4.47 $4.06 $4.00 $3.69 $3.36 $3.05 In Millions $3.00 $2.71 $2.26 $2.31 $2.04 $2.00 $1.30 $1.40 $1.05 $1.00 $0.69 $0.69 $0.73 $0.83 $0.40 $0.42 $0.51 $0.51 $- 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 11 Stormwater Fees: 1997 - 2018 $5.0 $4.39 $4.57 $4.5 $4.22 $4.06 $4.0 $3.69 $3.36 $3.5 $3.05 $3.0 $2.71 $2.5 $2.26 $2.31 $2.04 $2.0 $1.30 $1.40 $1.5 $1.05 $.83 $1.0 $.69 $.69 $.73 $.40 $.42 $.51 $.51 $0.5 $0.0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Other Environmental Initiatives Clean Truck Program ScRAPS 2 $7millon in Grants for subsidizing 239 truck upgrades 2018 deadline Green Gateway Partners Green Marine Certification Transload Facilities & Heavy Haul Corridor Policy Issues/Challenges Reinvestment in facilities for the future (big ship ready, Terminal 5 Modernization) Partnership with city/county on freight (heavy haul corridor, industrial land use) Increase competitiveness Puget Sound gateway (cost efficient and attractive to customers) Support diversified seaport revenue growth (adapting to new markets/lines of business) Respond to regulatory environment (changes more frequent/restrictive than competitors)
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