TagEconomic Development Partnership Program(45)

The Port of Seattle is requesting $1.9 million to continue its Economic Development Partnership Program for 2025-2026, which provides grants of $10,000–$60,000 to King County cities for local economic development projects such as small business support, tourism, and workforce development. In 2024, 27 cities participated, leveraging over $637,000 in city matching funds to generate a combined $1.4 million investment across the region. The program, active since 2016, is funded by the Port's property tax levy and requires cities to provide a 50% match to ensure shared commitment to project success.

The Port of Seattle is requesting $900,000 to continue its Economic Development Partnership (EDP) program, which provides grants of $5,000–$60,000 to King County cities for local economic development projects such as small business assistance, tourism promotion, and workforce development. In the 2022–2023 cycle, 27 cities participated and collectively leveraged over $1.6 million in matching resources, supporting nearly 700 businesses and generating millions of marketing impressions. For 2024, the program is shifting to one-year contracts to better align with cities' biennial budget timelines.

The Port of Seattle drives the regional economy through its airport, maritime trade, and other operations, generating $22.5 billion in economic activity at SEA Airport, $16.3 billion through Maritime International Trade, and supporting over 121,200 area jobs. The presentation emphasizes that economic development requires collaboration across a broad ecosystem of partners, including ports, government agencies, financial institutions, educational institutions, and community organizations. It outlines how the Port builds and operates facilities while supporting business lines such as aviation, cruise, cargo, fishing, and real estate.