Maritime Economic Development: Bellingham
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Bellingham: Port Approves Rental Policy in Support of Marine Trades
The Bellingham Port Commission has adopted a policy designed to provide a consistent and predictable rent structure for working waterfront employers. The water reliant commercial marine rental policy was developed in coordination with the Working Waterfront Coalition of Whatcom County to strengthen the harbor core of the county’s maritime sector and protect commercial marine businesses where they rely upon access to marine water.
"We hope this policy sends a clear message to marine trade industries throughout the Puget Sound that we want them on our waterfront and we place a high value the good-paying jobs they create," said Port Real Estate Director Shirley McFearin.
In Whatcom County, 6,033 jobs are created or supported by marine trades, representing 7 percent of the total workforce. Statewide, the maritime sector accounts for 148,800 jobs and $30 billion in fiscal impact.
The water reliant commercial marine rental policy offers qualifying businesses a 10 percent discount off rental revenue standard rates. It also sets working waterfront land values based on appraisals for water-reliant marine uses rather than commercial uses. The port’s policy will be implemented as new leases are issued and existing leases are renewed.
"This policy will pay dividends to shareholders of the Port and that includes every citizen of Whatcom County" said Jim Kyle, vice president of the Working Waterfront Coalition. "Whatcom County’s vibrant maritime sector supports 6,000 mostly living-wage jobs. These jobs exist because we have harbors full of boats attracted by excellent facilities and close by chandleries, marine trades, and trades people."
The Bellingham Port Commission has adopted a policy designed to provide a consistent and predictable rent structure for working waterfront employers. The water reliant commercial marine rental policy was developed in coordination with the Working Waterfront Coalition of Whatcom County to strengthen the harbor core of the county’s maritime sector and protect commercial marine businesses where they rely upon access to marine water.
"We hope this policy sends a clear message to marine trade industries throughout the Puget Sound that we want them on our waterfront and we place a high value the good-paying jobs they create," said Port Real Estate Director Shirley McFearin.
In Whatcom County, 6,033 jobs are created or supported by marine trades, representing 7 percent of the total workforce. Statewide, the maritime sector accounts for 148,800 jobs and $30 billion in fiscal impact.
The water reliant commercial marine rental policy offers qualifying businesses a 10 percent discount off rental revenue standard rates. It also sets working waterfront land values based on appraisals for water-reliant marine uses rather than commercial uses. The port’s policy will be implemented as new leases are issued and existing leases are renewed.
"This policy will pay dividends to shareholders of the Port and that includes every citizen of Whatcom County" said Jim Kyle, vice president of the Working Waterfront Coalition. "Whatcom County’s vibrant maritime sector supports 6,000 mostly living-wage jobs. These jobs exist because we have harbors full of boats attracted by excellent facilities and close by chandleries, marine trades, and trades people."
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