Job Creation Is the Port's Top Goal for 2009
[Bellingham, Wash.] Job creation, industry recruitment and economic development are high priorities in the Port of Bellingham's Draft 2009 Strategic Budget.
"The main reasons ports exist in Washington State are for economic development and job creation," said Executive Director Jim Darling. "The Port of Bellingham is poised to do what we can to energize the local economy."
A public hearing on the budget will occur at the port's Board of Commissioners' next meeting at 3 p.m. on Tuesday, Nov. 4 and Nov. 18, in the Harbor Center Conference Room, 1801 Roeder Avenue. The budget is available online or during weekday working hours at port offices at the same address.
In 2009 the port will dedicate at least $100,000 to target specific industry clusters and help them expand their economic role in Whatcom County. These clusters were determined based on current growth, local resources and emerging trends. Those areas are: marine trades, engineering and technical services, agriculture-related industry and the adventure tourism-related manufacturing industry.
"Our county is experiencing difficult economic conditions and it is essential for the Port of Bellingham to focus its resources on improving our local economy," said Port Commission President Doug Smith. "Job creation is our number one priority for 2009."
In addition, the port is creating a "Futures Fund" of more than $1.2 million as a dedicated fund available for new capital investments that immediately expand the community's job base. The port also will continue its program of partnering with small cities to provide matching funding for economic development projects in those cites.
One of the Port's key roles is to develop projects and programs that stimulate the economy and add new jobs. A 2008 Economic Impact Study determined that port operations already contribute more than 7,000 jobs to the county. More than 250 local businesses operate on Port property.
The draft budget forecasts $36.7 million in revenues and $36.4 million in expenditures and anticipates maintaining cash reserves of $19.3 million.
The draft budget recommends the port not take the allowed one percent countywide property tax rate increase and instead keep its tax rate flat. If approved, in 2009 the owner of a $275,000 home would pay $89.28 in taxes to the port.
"People are facing increasing costs in many parts of their own home budgets and we believe it is important that the port do what it can to help," Smith said.
The proposed budget includes $9.5 million in capital projects. Some of the largest projects are the development of the Marine Trades Innovation Partnership Zone and the engineering and design for the Whatcom Waterway Cleanup and new Downtown Marina. The proposed budget also anticipates beginning work on the expansion of the Bellingham International Airport Passenger Terminal. This work will include significant improvements to the Baggage Claim Area at the airport.
The draft budget forecasts the beginning of the waterfront redevelopment in Blaine with a private development partner and anticipates continued work on the Bellingham waterfront redevelopment effort. In 2008, the city of Blaine and the Port of Bellingham adopted a new waterfront master plan and worked together to solicit private developers for the project.
The Port of Bellingham is a countywide special purpose district that operates the Bellingham Airport, Bellingham Cruise Terminal, Fairhaven Transportation Station, Squalicum and Blaine Marinas, and numerous diverse real estate business and industrial developments throughout Whatcom County as well a network of public parks, trails and boat launches. All Port assets are owned by the people of Whatcom County.
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