Thursday, October 15, 2009

Grays Harbor Port Approves Preliminary 2010 Budget

Officials for the Port of Grays Harbor in Washington State released a 2010 preliminary budget Tuesday, which predicts a 50 percent increase in vessel calls over the next year.

Based on port expectations of 63 vessel calls next year and an additional 30 barges, the new budget predicts total revenues climbing to $16.6 million versus operating, capital improvement and other expenses of $16.5 million.

In releasing the new budget, port officials cited new partnerships with Ag Processing Inc., Pasha Group shipments, and Westway Terminals liquid storage as foundational to the port's economic situation next year.

The new budget retains about $3.9 million in capital improvement projects, including the development of a research and development facility, a marine cargo yard rail expansion, and additional security improvements.

The port commissioners must submit a final budget to the county by Dec. 7.