Show All Answers

1. How many jobs does the Port create?

According to the 2009 Economic Impact Study, the income levels generated by the Port and its tenants equate to 3,043 direct jobs, 1,390 induced jobs, and 2,816 indirect jobs. There are a total 7,249 jobs generated by Port activity.

2. How much tax money does the Port collect?

In fiscal year 2010, the Port collected $4.6 million in property taxes. The tax rate was $0.17 per $1,000 of assessed property value, equating to $34 for a $200,000 home. The amount collected by the Port represented 1.48% of the total property taxes collected in Thurston County

3. How does the Port use the taxes it collects?

Primarily to pay off bond debt principle and interest for major capital investments. Any remaining taxes first go towards environmental projects and lastly to non-bonded capital investments.

4. What portion of the Port's operating costs are funded by taxes?

Absolutely no property tax money is used for the Port’s day-to-day operations.

5. Are there any Ports in Washington that do not collect taxes?

One. All other Class A and major ports rely on some form of property taxes. The Port of Olympia collects the fourth lowest amount of the 23 in its category.

6. When is the budget prepared?

Budget preparation begins in August and the Commission adopts the final budget at its second meeting in November.

7. Is the Port operating profitably?

In fiscal year 2010, the Port generated sufficient operating revenue to cover all operating expenses as well as all overhead and still leave more than $900,000 for operating surplus.

8. Why doesn't the private sector operate the Port?

Like ports across the nation, the Port of Olympia takes on environmental cleanup projects such as Cascade Pole, and offers transportation infrastructures for marine, air and rail. These are not highly profitable yet need to be done for public use and public safety, international trade and economic development, and to make land and water usable again. Further, grants for cleanups and transportation infrastructure are available to public entities like ports and cities, but not to private businesses.

9. Will there be a time when the Port no longer needs to collect property taxes?

Potentially, though this is not known. The Port is currently committed to capital bond payments through 2027. Historically, Ports use property taxes as a means of raising large amounts of money to complete major community investment projects. Therefore, commissioners are always looking at the cost/benefit of continued taxing (currently $30 on a $200,000 home) versus community benefit.

10. Do the Port's books comply with Generally Accepted Accounting Principles?

Yes. Additionally, these governmentally established standards are the basis of annual financial audits conducted by the State Auditor on all Port financial records.

11. What is the Port's economic impact?

According to the 2009 Economic Impact Study, the Port of Olympia activities generated $350.7 million in wages, salaries, and local consumption to the local and regional economy.

12. How many people work for the Port?

44 full-time staff and another 10 who are in positions that are part-time, seasonal or project related.