“This is not a status-quo budget,” insists CEO Ted Fick.
“This is a growth-oriented budget so we can spur the regional economy, expand opportunities for small and disadvantaged businesses, increase family-wage jobs, help people acquire skills to move up the career ladder, and protect our environment.”
In 2015, the Port forecasts 12.5 percent growth in airport passengers over 2014, expecting to see over 42 million passengers pass through Sea-Tac by year’s end.
Once again, the airport is likely to be among the fastest-growing top 20 airports in the United States.
And all indications are that passenger growth will continue in 2016 while the port authority continues its work on the Sea-Tac Airport Master Plan (SAMP) as part of its commitment to economic vitality for the region.
Major projects at the airport, such as the North Satellite and South Satellite renovations, new International Arrivals Facility, and the Baggage System Optimization are designed to improve the customer experience, reduce congestion, and add capacity to accommodate future growth.
The total capital budget for 2016 is $408.4 million and the five-year capital improvement program is $2.23 billion, which reflects the Port's continuing commitment to investing in the development, expansion, and renewal of Port facilities that support regional economic activity.