PORT OF LOS ANGELES ON TRACK TO AWARD MORE THAN $383 MILLION IN CONSTRUCTION CONTRACTS IN 2008


PORT OF LOS ANGELES ON TRACK TO AWARD MORE THAN $383 MILLION IN CONSTRUCTION CONTRACTS IN 2008

Port of L.A. Construction Projects Will Support
6,000+ Jobs

SAN PEDRO, Calif. — November 21, 2008 — The Port of Los Angeles will award an estimated $383.7 million in construction contracts by year-end, fueling a surge of construction activity that will create thousands of jobs in the region. 

The more than $383 million in future spending related to these projects will support over 6,000 regional jobs. At present, 18 multi-year construction projects are underway at the port, totaling approximately $148 million and supporting an estimated 2,516 total one-year full-time regional jobs, including 1,260 direct construction jobs.

“This is positive news for Southern California, especially right now,” said Los Angeles Harbor Commission President, S. David Freeman. “Over the next few years, these projects will be a strong economic stimulus for our region as we clean the air and grow the Port.”

“The rise in construction activity underscores our mission to continue upgrading Port infrastructure and cargo terminals in the most environmentally sustainable fashion,” added Port Executive Director Geraldine Knatz, Ph.D. “After a seven-year hiatus in our capital development program, this construction activity is a sign that we are back in business in a big way.”

In addition to these projects, last evening the Los Angeles Harbor Commission approved the final Subsequent Environmental Impact Report (SEIR) for the Pacific L.A. Marine Terminal, LLC Pier 400 project. The new marine crude terminal, capable of accommodating fully-loaded, deep-draft very large crude carrier (VLCC) oil tankers, is estimated to cost $455 million in future construction expenditures, provide 732 one-year, full-time regional jobs during construction, and provide a net 212 annual operational jobs in the five-county region at full build-out.

The largest construction contracts approved this calendar year include a $97.9 million wharf improvement contract as part of the TraPac Container Terminal expansion; a $124.6 million contract approved last evening by the Los Angeles Harbor Commission to build the 700-boat slip Cabrillo Way Marina (Phase 2); a $54.4 million contract approved last evening by the Los Angeles Harbor Commission to construct a 30-acre linear shaped “buffer” of public open space between TraPac and the Wilmington community; a $42.7 million contract for marine wharf maintenance and improvements at various berths; and a $42.7 million contract to build a Port Police headquarters facility in San Pedro that will carry a “Gold” rating under the Leadership in Energy and Environmental Design (LEED) rating system developed by the U.S. Green Building Council.

About the Port of Los Angeles
The Port of Los Angeles, also known as “America’s Port,” has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy and the quality of life for the region and the nation it serves. A recipient of numerous environmental awards, including the U.S. Environmental Protection Agency's 2007 Clean Air Excellence Award, the Port of Los Angeles is committed to innovating cleaner, greener ways of doing business. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates 919,000 regional jobs and $39.1 billion in annual wages and tax revenues. A proprietary department of the City of Los Angeles, the Port is self-supporting and does not receive taxpayer dollars. The Port of Los Angeles - A cleaner port. A brighter future.