Port of Long Beach approves $760 million budget plan for 2025 fiscal year

With a focus on infrastructure and rail projects, the Port of Long Beach harbor commissioners have approved a $760 million budget for the 2025 fiscal year.

The budget establishes a plan to fund new capital improvements in rail, zero-emissions and other infrastructure. The budget now will go to the Long Beach City Council for final approval. The operating revenue is estimated to be 6.8% higher than last year’s budget.

The spending plan, said Port of Long Beach CEO Mario Cordero in a written comment, “reflects our values, balancing serving as an economic engine for our city and region and growing responsibility while limiting environmental impacts.”

Outlined in a port summary of the spending plan, next year’s proposed capital budget totals $368.3 million, 47.2% higher than the prior year. Of that total sum, $204.9 million is for the Pier B project, which will break ground this summer. Pier B, according to port officials, will shift more cargo to on-dock rail where containers are taken to and from marine terminals by trains. Moving cargo by on-dock rail reduces truck traffic so is cleaner and more efficient. No cargo trucks would visit the facility.

“Because trade, construction and tourism support 51,000 jobs in Long Beach — or one in five jobs — it’s important we stay focused on attracting business, building for the future and moving cargo sustainably,” said commission President Bobby Olvera Jr. “Theis budget advances these goals by leveraging our stable financial strength as a top gateway for global commerce.”

Also included in the budget is approximately $25 million in Clean Truck Fund subsidies to support the transition of the heavy-duty truck fleet to zero emissions. Along with the neighboring Port of Los Angeles, the Long Beach port has twin goals of a zero-emissions cargo-handling fleet by 2030 and zero-emissions trucking by 2035.

“We are optimistic about the year ahead,” Cordero said, “and this spending plan builds our competitive advantages for a green future.”

The commission, during its budget actions, also increased (from $2 million to $3 million) allocations for the Community Sponsorship Program. The program helps the port engage with and inform local community members about port operations and initiatives.

The Port of Long Beach does not use tax revenue to support its operations.