Harbor Commission approves Port of Long Beach budget

The Long Beach Board of Harbor Commissioners on Monday approved a $622.4 million budget for the Long Beach Harbor Department, more than half of which is dedicated to capital improvement projects that will ensure the Port of Long Beach’s continued competitiveness, efficiency and sustainability.

The budget for fiscal year 2022 begins Oct. 1 and is 4.2% lower than the budget adopted last year. Operating revenue is projected to be 8.7% higher due to strong anticipated performance in containerized cargo volumes.

The Port’s fiscal year 2022 budget will be considered for approval by the City Council later this year.

“The scope and reach of the COVID-19 pandemic struck a serious blow to the global economy, but the Port remains fiscally strong and secure,” said Mario Cordero, Executive Director of the Port of Long Beach. “We plan to assist with the region’s recovery by continuing to invest in our community, our workforce and infrastructure upgrades that will keep us competitive well into the future.”

For the next fiscal year, the Port plans to add 11 full-time positions and transfer an all-time high of $20.6 million to the City’s Tidelands Operating Fund, which supports quality-of-life projects along Long Beach’s 7-mile coastline.

“Although the COVID-19 pandemic tested our resolve, we remain focused on the future by investing in strategic projects that will improve cargo flow, reliability and efficiency,” said Long Beach Harbor Commission President Frank Colonna. “As an international gateway for trade, the Port is well positioned to endure economic challenges and assist in the nation’s economic recovery.”

Additionally, the budget sets aside $329.1 million in an ongoing capital improvement program to modernize terminals, rail, bridges, waterways, roads and other infrastructure to support the ongoing growth of operations at the nation’s second-busiest seaport.

Overall, the Port of Long Beach plans to invest nearly $1.6 billion in strategic projects over the next 10 years to enhance marine terminal productivity, deliver greater efficiency to our customers and improve the sustainability of our operations.

The Port of Long Beach — the Harbor Department of the City of Long Beach — does not use tax revenue to support operations.