By Karen Robes Meeks
The Long Beach Board of Harbor Commissioners recently endorsed a $982 million spending plan for fiscal year 2018-2019 for the Port of Long Beach.
About $695 million – 70 percent of the budget – will fund modernization and other construction projects, including $333 million on the Gerald Desmond Bridge Replacement Project and the Middle Harbor Terminal Redevelopment Project. Almost $215 million will be spent on the port’s new headquarters, which is expected to be completed in mid-2019.
“The budget reflects the port’s trademark careful planning and fiscal responsibility as we engage in the most active capital improvement program of any US seaport,” said Lou Anne Bynum, president of the Long Beach Harbor Commission. “The port will remain a vital economic engine for both the regional and national economies as we continue to strengthen the port’s competitiveness.”
“This budget gives Long Beach the means to continue building a port that delivers the best customer service in the business,” said Port of Long Beach Executive Director Mario Cordero. “To our customers, that means delivering their cargo fast, efficiently, and at a cost that makes sense for them. “We look forward to a prosperous future together with our many partners.”
The budget will come before the Long Beach City Council for final approval.
