The proposed 2023 budget and five-year spending plan for the Port of Seattle includes significant investments in seaport infrastructure and workforce development.
Expected to be adopted by port commissioners on Nov. 29, the budget proposal introduced by Port Executive Director Steve Metruck includes a record $5.3 billion investment in capital projects over five years (with $725.8 million being proposed for 2023), as well as more funding for environmental and workforce development initiatives, according to the port.
The 2023-2027 plan includes $522.3 million in maritime and economic development-related projects such as berth-replacing at Terminal 91, electrification work at Pier 66, and developing new maritime industrial space at terminals 106 and 91.
The port also plans to give $276.4 million to the Northwest Seaport Alliance toward container terminal upgrade and expansion in both harbors, including Terminal 5. Both Seattle and Tacoma’s seaports give 50% of costs toward the alliance’s five-year capital improvement plan.
Capital projects are the biggest share of port spending, making up 39% of Seattle’s budget, and up to 43.5% with the inclusion of NWSA projects in 2023.
The budget proposal also includes $1 million for the port’s Aquarium Strategic Relationship for maritime sectors and habitat conservation education, $200,000 to look into maritime economic development opportunities in the offshore wind industry; and $200,000 to explore a cruise-focused Green Corridor that moves between Alaska, British Columbia and Washington.
The full 2023 budget and five-year capital plan is available on the port’s website.