Long Beach port voted massive US$1 billion budget as it gains on LA
THE Long Beach Board of Harbour Commissioners has approved a $1.02 billion budget for fiscal year 2014 that begins on October 1 after the port's latest statistics showed that it was gaining on neighbouring Los Angeles.
The budget includes the biggest capital improvement spending plan to date for the Port of Long Beach amounting to a total of US$788 million, representing a six per cent increase compared to the previous fiscal year. The budget also anticipates record operating revenue of $375 million.
The funds will be used to rebuild and replace aging facilities and infrastructure to make the port more competitive. Modernisation projects include development of the Middle Harbour terminal and replacement of the Gerald Desmond Bridge.
The approved budget adds 52 new full-time positions, which include 33 in the Engineering Bureau to oversee the ongoing capital improvements and 12 in the Security Division to enhance operational integration with the Long Beach Police Department and other partnering security agencies, a statement from port authorities said.
"Our carefully planned 10-year capital improvement programme represents a significant investment in this port, and this annual budget is just one part of that," said interim executive director Al Moro. "We're working to maintain this port's ability to sustain economic activity and jobs in Long Beach and the region."
In addition, the budget allocates $73 million for environmental programmes to improve air and water quality, as well as to protect wildlife habitat. The budget also estimates a record $18.4 million transfer to the city's Tidelands Fund for the board to consider. The transfer would be five per cent of forecast operating revenue for fiscal year 2013.
The budget was unanimously approved by the commission on June 17. It will be presented in July to the Long Beach City Council for approval.
THE Long Beach Board of Harbour Commissioners has approved a $1.02 billion budget for fiscal year 2014 that begins on October 1 after the port's latest statistics showed that it was gaining on neighbouring Los Angeles.
The budget includes the biggest capital improvement spending plan to date for the Port of Long Beach amounting to a total of US$788 million, representing a six per cent increase compared to the previous fiscal year. The budget also anticipates record operating revenue of $375 million.
The funds will be used to rebuild and replace aging facilities and infrastructure to make the port more competitive. Modernisation projects include development of the Middle Harbour terminal and replacement of the Gerald Desmond Bridge.
The approved budget adds 52 new full-time positions, which include 33 in the Engineering Bureau to oversee the ongoing capital improvements and 12 in the Security Division to enhance operational integration with the Long Beach Police Department and other partnering security agencies, a statement from port authorities said.
"Our carefully planned 10-year capital improvement programme represents a significant investment in this port, and this annual budget is just one part of that," said interim executive director Al Moro. "We're working to maintain this port's ability to sustain economic activity and jobs in Long Beach and the region."
In addition, the budget allocates $73 million for environmental programmes to improve air and water quality, as well as to protect wildlife habitat. The budget also estimates a record $18.4 million transfer to the city's Tidelands Fund for the board to consider. The transfer would be five per cent of forecast operating revenue for fiscal year 2013.
The budget was unanimously approved by the commission on June 17. It will be presented in July to the Long Beach City Council for approval.