The Long Beach Board of Harbor Commissioners on Monday approved a $942 million budget for fiscal year 2013, a 12 percent increase over the past year.
The port said the increase reflects the its growing investment in facilities and infrastructure modernization.
The new budget includes $720 million in capital spending, a 14 percent increase over fiscal year 2012, from Oct. 1 through Sept. 30. The growth in capital investment comes mainly from two large construction projects that have already begun at the port: the Middle Harbor Terminal Project and preliminary work for the replacement of the Gerald Desmond Bridge.
It also includes $104 million in environmental infrastructure projects and other programs aimed at improving air and water quality, and cleaning soil and undersea sediments.
Because of the current weakness in global trade, the spending plan also reduces non-staff related operating costs by 5 percent.
The 2013 budget also adds 25 new positions, mainly to support increased construction activity. There are no salary increases for management and only contractually mandated increases for staff.
The port’s budget will be included with the rest of the city’s when it goes to the Long Beach mayor and city council for review.
Long Beach port approves $942 million budget
