Port of Oakland adopts $494.2 million budget for FY 2019
A new $494.2 million budget for Fiscal Year 2019 goes into place this week at the Port of Oakland. Port Commissioners last week approved the spending plan that includes $34.7 million for capital projects, the company said in its press release.
The budget finances operations at the Port’s three businesses: Aviation, Commercial Real Estate and Maritime. In addition to its container seaport, the Port manages Oakland International Airport and the Jack London Square entertainment district.
The budget is about $40 million less than the Port’s FY 2018 spending plan. The previous year’s budget was higher because of extraordinary Airport upgrades, the Port said. Those included a major overhaul of the Airport’s International Arrivals Building and rehabilitation of its main runway.
The Port said it would seek Commissioners’ approval for up to $92 million in additional capital funding this year.
About the Port of Oakland
The Port of Oakland oversees the Oakland Seaport, Oakland International Airport, and nearly 20 miles of waterfront including Jack London Square. The Port's 5-year strategic plan - Growth with Care - pairs business expansion with community benefits, envisioning more jobs and economic stimulus as the Port grows. Together with its business partners, the Port supports more than 73,000 jobs in the region and nearly 827,000 jobs across the United States.