Everett Budget Supports Port Upgrades

The Port of Everett’s $66.2 million budget for 2020 reflects a significant investment in its future and that of the region.

The 2020 fiscal plan includes $24.7 million in operating/non-operating expenses and $24.3 million in capital investment. Approximately $6.5 million has been put aside for environmental remediation and public access projects, and $9.2 million to pay the principal and interest of the port long-term debt.

The $24.3 million capital investment – $103.1 million through 2024 – will help fund 45 projects that further the port’s Strategic Plan. The plan includes upgrades to Seaport facilities, development of the former Kimberly-Clark mill site, and completion of Fisherman’s Harbor, which is Phase One of the port’s 65-acre mixed-use development at Waterfront Place.

The budget sets the financial framework for the port to continue delivering on the vision of a balanced Everett waterfront that supports maritime use at the urban deep-water Seaport, and mixed-use at the destination waterfront.

By Pacific Maritime