Port of Seattle Approves 2026 Budget, Advancing Major Capital Investments and Sustainability Priorities

The Port of Seattle Commission has approved the Port’s 2026 budget and its 2026–2030 Capital Improvement Plan, concluding two months of review, public presentations and a formal public hearing. The financial plan reinforces the Port’s long-term focus on resiliency, regional economic impact and environmental leadership.

The Port’s 2026 operating budget totals just over $1.1 billion, supported by a five-year capital improvement plan of $4.4 billion. Leaders said the combined investment strategy positions the Port to meet rising aviation, maritime and tourism demand while advancing major community and sustainability initiatives. In 2025, the Port supported more than $39 billion in regional economic benefit, including 205,000 jobs.

Executive Director Steve Metruck said the 2026 plan is aligned with the Port’s broader strategy to strengthen competitiveness, modernize infrastructure and prepare for transformational needs across its facilities. Commission President Toshiko Hasegawa noted that the budget reflects a commitment to environmental justice, community engagement and workforce investment.

Commissioners emphasized areas such as sustainable fuels, expanded shore power, job training programs and continued investment in Seattle’s working waterfront. The plan also supports long-term modernization at Seattle-Tacoma International Airport (SEA), where several Upgrade SEA projects are scheduled to conclude ahead of the 2026 FIFA World Cup.

Maritime activity remains strong, with record cruise demand continuing into 2026. The Port expects 330 cruise calls next year across three shore-power-equipped berths. Leaders noted that global economic volatility, tariff shifts and climate impacts remain ongoing considerations.

The Port also continues its State Environmental Policy Act (SEPA) review for SEA Airport’s master plan, which includes more than 30 near-term projects and a proposed second terminal with 19 additional gates. Public engagement opportunities are planned throughout 2026.

Budget Overview

2026 operating budget:

• Operating revenue: $1.16 billion (up 3.5% from 2025)

• Operating expenses: $731.1 million (up 7.8% from 2025)

• Net operating income before depreciation: $427.8 million

2026–2030 capital plan:

• Total capital investment: $4.4 billion

• 2026 capital budget: $933 million

• Aviation: $3.75 billion over five years, with $847 million planned for 2026

• Maritime/economic development: $737 million over five years

• Additional $210 million for Northwest Seaport Alliance commitments

Property Tax Levy

The 2026 levy is set at $90.2 million, with the average King County homeowner’s portion remaining at $85, unchanged from 2025. Levy funding will support waterfront capital projects, community programming, sound insulation for near-airport neighborhoods, workforce development, and equity and inclusion initiatives.

Port commissioners said the investments are designed to strengthen infrastructure, support a greener regional economy and maintain the Port’s role as a major job creator and global gateway.