Budget
The Port of Vancouver USA has rolled out a schedule for Terminal 1, laying the groundwork for an ambitious completion date of 2027. The port is working with private developers to open the first three blocks by 2023. The final block and public market are projected to be completed later in the decade. The overall budget for the development is more than $600 million, with a majority from private sector investment in the project. The port will continue to invest in developing the public spaces, dock reconstruction, and public market, while continuing to look for grants and local philanthropic investments to fund other key public areas.
To create an iconic destination that honors the port’s birthplace, serves as a gateway to the state, creates access to the Columbia River, and promotes tourism and economic development.
The Port of Vancouver USA is an economic engine for Southwest Washington. The port provides quality jobs, trade connections, a strong industrial land base, and economic stability by producing revenue for state and local services. Our budget reflects financial sustainability strategies that also consider the need for a healthy environment and community to ensure the port remains a unique and vibrant center of trade.
The transparent budgeting process includes annual public review and commission approval. The port budgets and operates under the laws applicable to a public port district as a municipal corporation under the provisions of Chapter 53 of the Revised Code of Washington. The port operates principally in two industries: marine terminal operations and industrial/commercial property leases. Among the stated goals of the Port of Vancouver USA is the pursuit of business opportunities that maximize utilization of port assets.
Redevelopment of Terminal 1 fulfills a vision to create a waterfront destination that provides increased public accessibility, environmental stewardship, support of tangential commercial zones, and new economic opportunities.
Key Strategies
Build a public marketplace on the Columbia River.
Create a financially independent business model at Terminal 1 by securing long-term partnerships to support the operating and capital costs.
Support public enjoyment and tourism through activities such as river cruises and events at Terminal 1.
Explore partnerships in arts, culture, and history interpretation.
Pledged Commitments
Tax revenue
To the state & local government
25 YEAR NET PRESENT VALUE FISCAL IMPACT
BY TAX SOURCE: $113.3 MILLION
Project Timeline
*Project dependent on obtaining funding. Schedule is subject to change.