It represents a 2.5% increase or $14.4 million increase on the previous year.
According to Massport, the budget reflects its commitment to key areas that include attracting new international and domestic service to propel the region’s economic growth; safety and security; and improving the customer experience at all Massport facilities.
It also covers Massport’s bid to improving ground transportation access at Boston Logan International Airport and supporting initiatives in neighbouring communities.
About 70% of the budget – $403 million – will go towards funding the day-to-day operations of the aviation, maritime and real estate business lines as well as Massport's support departments.
The remaining 30% will be spent on capital programmes to maintain runways, terminals, roadways and docks that support the regional economy.
“The FY ’14 budget ensures not only that Massport’s critical infrastructure and its strong credit rating are maintained, it also supports investment needed to Massachusetts citizens, businesses and customers to connect with new markets,’’ said Richard Davey, chairman of the Massport Board and Secretary of Transportation for the Commonwealth.
“For 2014, Massport will invest nearly $1 million for the international incentive programmed that support new entrants to un-served global markets, like Japan Airlines’ service to Tokyo and Copa Airlines service to all of Latin America through their hub in Panama City,” said Massport CEO Thomas Glynn.
Those two services will contribute an estimated $200 million in regional impact for the state’s economy and serve more than 100,000 passengers.
Massport will also invest $35 million to improve customer services at Boston Logan in 2014, with new costs of nearly $14 million for the operation of the new Rental Car Center and the unified bus system that will replace some 90 diesel powered vehicles with 30 Massport-owned clean diesel electric hybrid buses.
The new buses will reduce vehicle miles travelled by 74% and will lower emissions.
Other new customer service programmes will include digital signage in the terminals.