Port of Long Beach adopts $833 million annual budget

The Long Beach Board of Harbor Commissioners this week approved an $833 million budget for the Port of Long Beach, with almost half allocated for infrastructure projects reinforcing its position as a leader in sustainable and efficient goods movement.

Later this year, the budget for fiscal year 2026 will be sent for approval to the Long Beach City Council. It includes a $25.3 million transfer to the City’s Tidelands Operating Fund, which supports quality-of-life projects along Long Beach’s 7-mile coastline that have improved shoreline safety, cleanliness, water quality, facilities and other amenities.

The Port’s budgeted spending for next fiscal year, which begins Oct. 1, is 9.5% higher than the budget adopted last year. The increase reflects continuing work on the Pier B On-Dock Rail Support Facility, other harbor construction to boost productivity and efficiency in goods movement, and developing power and infrastructure projects supporting zero-emissions port operation equipment and vehicles under the Zero Emissions, Energy Resilient Operations, or ZEERO Policy.

Operating revenue is budgeted conservatively to be down 1.9% due to the uncertainty brought on by current and potential future tariffs.

“We are building a greener future with targeted investments to boost the speed of cargo movement while reducing the impacts on our community,” said Long Beach Harbor Commission President Bonnie Lowenthal. “Our industry partners can depend on the Port of Long Beach as a source of stability as they plan for the year ahead.”

“Though this is a time of uncertainty for global trade, the Port of Long Beach faces it from a position of financial strength,” said Port of Long Beach CEO Mario Cordero. “Like past challenges, we approach the current economic situation as an opportunity to build for the future, and this budget continues that tradition.”

Next year’s budget for capital projects totals $405.4 million, or 48.7% of total spending. The greatest portion, $208.8 million, is for the Pier B project, which broke ground in July last year and is scheduled to be completed by 2032. Pier B will shift more cargo to “on-dock rail,” where containers are taken to and from marine terminals by trains. Moving cargo by on-dock rail is cleaner and more efficient, as it reduces truck traffic. The Port of Long Beach plans $3.2 billion in infrastructure improvements over the next 10 years.

Before adopting the budget on Monday, the Board increased the amount allocated for scholarships next year by $50,000, from $350,000 to $400,000. Late last month, during its annual Celebrating Education event, the Port presented scholarships to 190 high school and local college students interested in studying and training in port-related fields including engineering, environmental science, maritime law and technical trades. As part of its efforts to expand educational opportunities for local residents seeking jobs in the goods movement industry, the Port has steadily increased the budget for scholarships since 2021, when $150,000 was distributed.