A bill passed by the state Legislature and signed Friday by Gov. Jay Inslee provides the ports of Seattle and Tacoma the ability to form a port development authority in support of the Seaport Alliance.
The ports appreciate the support and action by legislators and the governor for this key milestone as the two commissions work to form the Seaport Alliance to jointly manage the marine cargo facilities and business in Tacoma and Seattle.
While the alliance could be formed under a number of different governance structures, the port development authority structure has been recommended because it:
- Creates a separate entity for contracting, auditing and reporting purposes.
- Allows the joint commissions to meet while remaining subject to the Open Public Meetings Act and public records disclosure.
- Clarifies status as a tax-exempt entity.
- Facilitates development of the new team and governance structure through the existence of a separate entity.
Under authority of the Federal Maritime Commission (FMC), the two ports have been working out the details of the Seaport Alliance. The two port commissions intend to submit a more detailed agreement to the FMC for approval later this spring.
Read more about the Seaport Alliance.
The two ports together form the third-largest container gateway in North America, representing a critical connection to Asia and Alaska.
About the ports of Seattle and Tacoma
Combined, the ports of Seattle and Tacoma are the third-largest container gateway in North America. A recent analysis performed by Martin Associates estimates that the two ports’ marine cargo operations supported more than 48,000 jobs, which generated nearly $4.3 billion in economic activity in 2013. If the farmers and manufacturers who ship products through the ports of Seattle and Tacoma are factored in, the ports’ activities reach 443,000 jobs overall in Washington.