Seattle Port Commission Approves $3.7B Capital Improvement Plan
Port of Seattle Commissioners approved the 2021 budget and five-year, $3.7 billion capital improvement plan to support an equitable, rapid, and lasting recovery. It promises to be a transformative year in 2021, as the Port opens the new International Arrivals Facility and completes work on the North Satellite at Seattle-Tacoma International Airport.
Port of Seattle Commission President Peter Steinbrueck says, “Sticking to our core mission is the best way the Port can respond to the COVID-19 crisis and build an equitable recovery. This budget invests in the most fundamental lines of business at the Port, work that no other government in the region is set up to do, to help our community survive this crisis and thrive in the coming recovery.”
The Port will also complete the first phase of a modernized international maritime shipping facility at Terminal 5, a project funded jointly by the Port of Seattle and Port of Tacoma through the Northwest Seaport Alliance.
Capital projects make up the largest category of Port spending, roughly 35% of the organization’s use of funds. The Aviation Division plans to spend $3.3 billion over five years on airport improvements.
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