Port of Seattle Announces Creation of Economic Development Division

Port of Seattle CEO M.R. Dinsmore today announced the creation of a new Economic Development Division as part of a strategic realignment of Port functions. The new division will be lead by Deputy CEO Tom Tierney. In addition, Dinsmore announced the hiring of John Okamoto, as Chief Administrative Officer, to oversee key aspects of the Port's business functions.

The changes are aimed at focusing the Port's efforts more specifically on economic development and achieving top financial returns from Port properties, as well as managing its business in a very challenging economic climate. The new division will be equal in stature to the Airport and Seaport divisions.

Dinsmore said the new division will allow the Port to maintain its strong commitment to maritime commerce and air transportation, while allowing it to focus new energy on its role as an important economic-development driver for the regional economy.

As Managing Director of the new division, Tierney will oversee Port real estate development and economic development activities, as well as its role in regional transportation. He will continue to serve as deputy Chief Executive Officer, a role he has held for the past two years.

"More than ever, the Port needs to act as an economic engine to help pull our region out of economic malaise," Dinsmore said. "The Port was a safety net during the last recession in the Puget Sound area, and, under Tom's leadership, we will perform that role again."

Dinsmore said Tierney will immediately focus on plans for redevelopment of the uplands at Terminal 91, near Magnolia. He will also represent the Port in efforts to come together on regional transportation improvements, including the Alaskan Way Viaduct.

As Chief Administrative Officer, Okamoto will oversee the Port's key administrative departments, including human resources, facilities, engineering, construction services, government relations and public affairs. Okamoto will begin work Jan. 13.

Okamoto has been Assistant Secretary of the state Department of Transportation since April 2001. "John is known throughout the region as an effective, collaborative administrator. His breadth of experience stems from a wide variety of leadership roles at the state and local-government level," Dinsmore said.

"At the Port, we have made significant staff reductions and other budget disciplines to make sure we are operating as economically and efficiently as we can in a difficult and trying economic period. Going forward, a top administrator like John will maintain a tight and high-performance workplace."

This reorganization is the final step in a year-long process at the Port, which saw major reductions in its Seaport and corporate staffs. It will be accomplished out of existing resources without budgetary increases.