TagEconomic Development Division(42)

The Port of Seattle's Q1 2022 Financial Performance Report, covering January through March 2022, shows the organization still recovering from COVID-19 impacts, with airport passenger volumes rebounding but running about 7.6% below 2019 levels. Total operating revenues reached $166.6 million, exceeding budget by $21 million, driven largely by federal concessionaire relief grants and stronger-than-expected parking revenue. The report also highlights record cruise activity, rising grain volumes, and continued community investment programs including environmental grants for urban restoration projects.

The Port of Seattle's 2021 Financial Performance Report details the port's financial results as of December 31, 2021, covering revenues, expenses, and net operating income across its Aviation, Maritime, Economic Development, and Central Services divisions. Despite pandemic-related disruptions, total operating revenues reached $621.8 million, aided by federal relief funds, strong public parking and rental car performance, and a partial return of cruise ship activity. The report does not directly address Sea-Tac Airport noise policy, making it of limited relevance for noise-related research.

The Port of Seattle's 2020 Real Estate Strategic Plan, published in August 2021, outlines strategies for managing and growing the Port's portfolio of industrial and office properties, including sites such as Fishermen's Terminal, Pier 69, and World Trade Center West. Developed by consulting firm Heartland in collaboration with Port staff and an external advisory committee, the plan updates a similar 2016 strategy and provides a framework for evaluating future real estate investments and acquisitions. Note that this document focuses on maritime and commercial real estate operations and does not address Sea-Tac Airport noise policy.

This July 2020 presentation from the Port of Seattle's Office of Equity, Diversity and Inclusion outlines the South King County Fund, an initiative aimed at supporting economic recovery and community equity in the South King County region. It provides an overview of the office's role within the Port's broader strategic priorities, which span aviation, maritime, and economic development operations. The document reflects the Port's commitment to weaving equity and community investment into all lines of business.

In April 2020, the Port of Seattle Commission voted to expand the allowable uses of the South King County Fund — originally created to address Sea-Tac Airport noise and environmental concerns — to include economic development activities in response to the COVID-19 pandemic. The fund, capped at $10 million, can now support efforts such as workforce training, small business assistance, and job retention for communities near the airport. The original environmental and noise-mitigation projects previously funded remain eligible, and equity principles continue to guide how the money is distributed.

The Port of Seattle Commission is requesting authorization for its 2019 Tourism Marketing Support Program, a grant initiative now in its fourth year that distributes up to $200,000 in King County tax levy funds to local destination marketing organizations, chambers of commerce, and nonprofits to promote tourism across Washington State. Grants of up to $10,000 each require a two-to-one match from recipients and must be used for advertising, public relations, digital marketing, trade shows, or familiarization tours aimed at attracting out-of-state visitors. Over its first three years, the program funded 57 projects and generated approximately $700,000 in additional tourism marketing statewide.

The Port of Seattle's 2018 Tourism Marketing Support Program awarded grants totaling $200,000 to 26 organizations across Washington State to promote local tourism destinations. Recipients, including visitor bureaus, arts councils, and cultural organizations, received up to $10,000 each in matching funds for projects such as digital marketing campaigns, familiarization tours, and international outreach. The program required a two-to-one match, meaning for every Port dollar awarded, the recipient contributed fifty cents.

The Port of Seattle awarded $150,000 in Tourism Marketing Support grants to 18 organizations across Washington State in 2017, helping fund projects ranging from whale-watching promotions to international media campaigns. Each recipient was required to provide a matching contribution at a two-to-one ratio, generating a combined total of over $257,000 in tourism marketing funds. For 2018, the Commission increased the program budget to $200,000, with the additional $50,000 designated for cultural, eco, sustainable, or nature tourism activities.

This Port of Seattle document examines the financial implications of transferring airport property to the Economic Development Division (EDD). It explains that if the transferred property currently generates revenue, losing that income would likely raise the cost per passenger (CPE) for airlines, since those revenues normally offset airline fees. However, if the property was originally purchased using FAA noise grants, a portion of the sale proceeds could be reinvested as grant money, potentially reducing costs and partially offsetting the CPE increase.

This Aviation Properties Overview map provides a general reference guide to the Port of Seattle's property zones surrounding Seattle-Tacoma International Airport. It divides the airport and surrounding areas into six named zones — Terminal, Airfield, Commercial, North of Airfield, South of Airfield, and South of 200th — each referenced to a specific page for detailed information. The map also identifies Port of Seattle property boundaries, lease boundaries, and land available for development in the Sea-Tac Airport region.