Friday, July 13, 2018

Oakland Budget Approved

By Karen Robes Meeks

The Port of Oakland commissioners recently approved a $494.2 million spending plan for the 2019 fiscal year, including $34.7 million for capital projects.

The budget, which accounts for the port’s aviation, commercial real estate and maritime businesses, is about $40 million less than last fiscal year as 2018 spending plan included major improvement to the Oakland International Airport’s International Arrivals Building and renovation to the main runway.

The port plans to ask the commission for as much as $92 million in additional capital funding this year.

The Oakland port is a major economic force, supporting over 73,000 jobs in the region and close to 827,000 jobs throughout the country.