Over 68 thousand railcars move through the port in 2022, most of which were destined for the port’s longest tenured company, United Grain Corporation. United Grain exported over
Proficiency in handling bulk and break-bulk cargoes continues to position the port to utilize its best assets, including the ability to handle large-sized shipments such as wind energy components. The movement of wind energy components remained strong this year. The largest wind blades to enter the West Coast of the U.S. at 78 meters came through the port in 2022.
Occupancy in the port’s industrial properties continues to exceed 99 percent. Its 50-plus tenants offer a wide range of products and services including metals and machinery, food processing, plastics moldings, and electronics recycling. Tenant businesses in its industrial properties employ thousands of people and contribute significantly to the local economy and tax base.
For the twelfth year in a row, the port purchased Renewable Energy Credits (RECs) equal to 100 percent of its purchased electricity, maintaining its commitment to renewable energy. The port also continues its innovative stormwater management through reliance on biofiltration technology via floating treatment wetlands in the Terminal 4 stormwater retention pond that enables it to meet regulatory requirements to control zinc, oil, and other runoff.
Additionally, in 2022, the port continued work to lower greenhouse gas (GHG) emissions as outlined in the Climate Action Plan (CAP). Replacing existing fleet vehicles and equipment with electric or hybridized diesel and gasoline-powered options continued; the port obtained two electric E-Transit vans and its first electric ATV in 2022. Additionally, it has ordered six new electric Ford Lightning pickup trucks which it will integrate into the fleets. The year also saw a successful trial of renewable diesel in qualified port-owned vehicles and equipment. Lighting and HVAC equipment upgrades at port facilities resulted in further energy efficiency.
The 2023 budget projects operating revenues of $49.600 million, with 68 percent of the projected operating revenue coming from commercial activity, including industrial property leases, rail, and facilities. The 2023 budget projects operating expenses of $42.630 million, a modest increase over the estimated 2022 operating expense forecast. This increase is mainly due to the increase in terminal operating revenue and related expenses.
The port’s 2023 capital budget will continue strong investments in regional economic activity through the investment of nearly $22.645 million. The port will perform tenant improvements, continuation of its multi-year investment in the waterfront development project, and significant maintenance on existing facilities. This reflects the port’s continuing commitment to promoting regional economic activity in the economic development and expansion and renewal of port facilities. Financing for the 2023 capital program will come from current revenues, tax levy revenue, grants, and other contributions.