The Port’s Economic Development Division is responsible for spurring our regional economy, sustaining and creating family-wage jobs by supporting small businesses, workforce development, tourism and leveraging real estate development to create jobs.
The Port owns property in King County that can be developed to provide jobs for thousands of people. Our Real Estate Strategic Plan is being prepared and will provide a roadmap to maximize the benefits and build regional prosperity.
North Pacific fishing fleet offers $1.6 billion economic opportunity for the region
The Port of Seattle and the Washington Maritime Federation released a detailed analysis of the North Pacific fishing fleet infrastructure and factors related to modernizing the fishing fleet.
With more than 400 vessels over 58 feet, and an average age of 40 years, the report found that there is a need to replace (or refurbish) older vessels. This need represents a significant economic opportunity for the region for the next ten years and beyond.
The report also finds that while the North Pacific fishing fleet plans to spend $1.6 billion on modernization in the next decade, shipyard competition, economic conditions, and public policy will determine how much of this vessel construction will be done in Puget Sound.
Opportunity analysis and more
Des Moines Creek Business Park
The Port owns land around Sea-Tac Airport that is being redeveloped to support our airport communities and the region. The Des Moines Creek Business Park has seen high demand among businesses to locate there. In June 2016 the Port participated in a groundbreaking celebration for the new FAA Regional Headquarters that will be built there, bringing 1,600 employees. Greencore Group, a leading international manufacturer of convenience foods, is building a new facility at the Business Park for 400 employees. In total, the City of Des Moines will see more than 6,000 new jobs come to their city from the Business Park, diversifying the economic base.
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Economic impact report
The most recent economic impact report commissioned by the Port of Seattle, based on business activity data collected in 2013-2014, showed that greater than 216,000 jobs were generated by Port activity, including over 129,000 direct jobs. These jobs generated $4.2 billion of direct wages and salaries. In addition, businesses providing services at the Port-owned properties received $19.8 billion of revenue and generated $894 million of state and local taxes.