Cargo volumes grow, tax levy shrinks in Port of Tacoma's 1996 budget.TACOMA, Wash.--(BUSINESS WIRE)--Nov. 29, 1995--Increases in cargo volumes, container traffic and operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. are all part of the 1996 budget adopted by the Port of Tacoma A major gateway to Asia and Alaska, the Port of Tacoma is a leading North American seaport, handling more than $35.6 billion in annual trade and nearly 2.1 million TEUs (Twenty-foot Equivalent container Units) in 2006. Commission on Nov. 28. The port's cargo predictions show strong financial performance and continued growth in most cargo areas for 1995 as well as 1996. The port also approved a decrease in the tax levy from $6.1 million to $5.9 million. This marks the sixth year in a row that the Port of Tacoma Commission has reduced the overall tax levy. "The tax levy reduction is an important step for the port," said Port of Tacoma Commissioner Jerry Thorpe Thorpe , James Francis Known as "Jim." 1888-1953. American athlete. An outstanding collegiate football player, he later played professional football and baseball. . "It shows the citizens of Pierce County Pierce County is the name of five counties in the United States:
With a tax levy of $5.9 million, Pierce County property owners will pay $0.1967 per $1,000 assessed valuation in property taxes to support the port. The owner of a home with an assessed value of $100,000 will pay $19.67 in 1996. Port revenue projections for 1996 include total earned operating revenues of $53.8 million, a 5.1 percent increase over the projected 1995 total of $51.2 million. Continued strong operating performance is expected to generate a net income of $11.3 million in 1996. On the cargo side, the port expects to handle 1,151,000 TEUs (20-foot equivalent units) in 1996, a 6.6 percent increase over 1995 levels. This includes a 9.7 percent increase for international container traffic, and a 1.4 percent increase in the Alaska trade. Total growth in the port's intermodal activity for 1996 is expected to be 6.3 percent. The port's total 1995 tonnage TONNAGE, mar. law. The capacity of a ship or vessel. 2. The act of congress of March 2, 1799, s. 64, 1 Story's L. U. S. 630, directs that to ascertain the tonnage of any ship or vessel, the surveyor, &c. is projected to be up 28 percent over 1994 tonnage. The final figures are expected to show growth in all cargo types -- containers, breakbulk, logs, autos and bulk. The port anticipates an all-time record of 1,080,000 TEUs in container traffic for 1995. That would represent a 5 percent increase over 1994. The Port's Five Year Capital Improvement Plan, which is part of the 1996 budget, focuses on continued terminal development to accommodate anticipated cargo growth. A total of $150 million in terminal expansions and new terminal developments tops the list of priorities for the Port of Tacoma's Five Year Capital Improvement Plan. These terminal developments represent 78 percent of the port's $191 million Five Year Capital Improvement Program. Of that amount, $43.4 million will be spent during 1996 on high priority marine projects and infrastructure expansion activities. Many of these developments focus on the port's Upper Blair Waterway waterway, natural or artificial navigable inland body of water, or system of interconnected bodies of water, used for transportation, may include a lake, river, canal, or any combination of these. . Recent dredging dredging, process of excavating materials underwater. It is used to deepen waterways, harbors, and docks and for mining alluvial mineral deposits, including tin, gold, and diamonds. and deepening deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. Noun 1. deepening - a process of becoming deeper and more profound of the Blair Waterway, along with a current waterway widening effort and the impending im·pend intr.v. im·pend·ed, im·pend·ing, im·pends 1. To be about to occur: Her retirement is impending. 2. removal of the Blair Bridge, clear the way for developing this waterway to its fullest potential. "During the next five years we'll be able to nearly double our acreage for container handling," said John Terpstra John Terpstra (born in Brockville, Ontario) is a Canadian poet and carpenter. During much of his childhood, he lived in Edmonton, Alberta, but moved back to Ontario to attend high school in Hamilton where he lives today. , executive director of the Port of Tacoma. "That is a very impressive expansion rate for any West Coast port." The port currently has about 265 acres of land dedicated to container traffic, serving four of the world's largest shipping lines -- Evergreen, "K" Line, Maersk, and Sea-Land. Over the next five years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time port plans to add 250 acres of new container facility space. The first major step in the port's terminal expansion plan is the West Blair Terminal, a 50-acre container terminal A container terminal is a facility where cargo containers are transhipped between different transport vehicles, for onward transportation. The transhipment may be between ships and land vehicles, for example trains or trucks, in which case the terminal is described as a planned for the Upper Blair Waterway. Development of this terminal will include a new on-dock intermodal rail facility. In addition to working to attract new shipping lines to facilities such as the West Blair Terminal, the port is also focusing efforts on meeting the expansion needs of existing shipping line customers. The port will spend $6 million in 1996 to prepare a 25-acre expansion for Sea-Land on a fill site on the Milwaukee Waterway. In addition, $1.8 million will be spent in 1996 to provide Totem Ocean Trailer Express Inc. (TOTE) with a 5.3-acre expansion. TOTE is a major shipping line serving the Alaska market. Evergreen Line The Evergreen Line is a proposed rail transit line in Greater Vancouver, Canada. It is proposed to run from Lougheed Town Centre SkyTrain station in Burnaby through Port Moody to Coquitlam, and is planned to begin operations by the end of 2011. also is expected to expand its terminal by occupying 12.47 acres the port purchased for $4.2 million. To efficiently handle expected growth in container traffic, the Port is also investing in a variety of infrastructure improvements to ensure the smooth flow of containers in and out of the port via rail and highway. "Our rail connections have been a key to our growth in the last 10 years," said Pat O'Malley Pat O'Malley may refer to:
Another major segment of the port's business -- industrial development -- is also a priority item for capital improvements. Property management projects totaling $44 million represent 17 percent of the port's Five Year Capital Improvement Program. In 1996, the port will spend $5.6 million on improvements in the Industrial Yard. Much of this money is earmarked for Tyson Seafood's new facility at the port, which will employ 120 to 200 people when it is fully operational in March 1996. The port will also continue to look at potential property acquisitions to continue expanding its land base. Another $9 million (5 percent of the Five Year Capital Improvement Program), is primarily earmarked for environmental projects including the port's participation in the cleanup of the Hylebos Waterway, as well as completion of other mitigation and remediation projects associated with port terminal and industrial expansion. CONTACT: Port of Tacoma Rod Koon, PR Director Mick Shultz, Communications Manager, 206/383-5841 From Seattle area 206/838-0142 FAX 206/593-4570 |
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