21-Jun-2013 2:23 PM

Massport FY2014 budget up by 2.5%

US Massachusetts Port Authority (Massport) voted (20-Jun-2013) to approve a business plan and budget for FY2014 of USD592 million, an increase of USD14.4 million (+2.5%) over the previous year. Massport stated the budget reflects its commitment to key areas including: attracting new international and domestic service to propel the regions economic growth, safety and security, improving the customer experience at all Massport facilities, increasing high occupancy vehicle use and improving ground transportation access at Boston Logan International Airport, supporting initiatives in neighbouring communities, and improving the financial performance of maritime operations. USD403 million will go to fund the day-to-day operations of the aviation, maritime and real estate business lines as well as the authority's support departments. The remainder of the budget (30%) will go to the capital programme to properly maintain the runways, terminals, roadways and docks that support the regional economy. Massport board chairman and secretary of transportation for the commonwealth of Massachusetts Richard Davey said the FY2014 budget ensures not only that Massports critical infrastructure and its strong credit rating are maintained, it also supports investment needed to Massachusetts citizens, businesses and customers to connect with new markets. Budget highlights:

  • USD1 million for the international incentive programme that supports new entrants to un-served global markets, like Japan Airlines service to Tokyo and Copa Airlines service to all of Latin America through their hub in Panama City.
  • Massports International Route Incentive Programme waives some fees for airlines in the first years of service and provides marketing support for new routes. Massport is hopeful that service to the Middle East and China could qualify for the incentive programme in the next year or two. Massport has a similar incentive programme for Worcester Regional Airport. The Authority will support new markets from the Airport, such as JetBlue's service to Orlando and Ft Lauderdale;
  • Increasing Worcester Regional Airport budget by USD1.4 million to USD6.8 million to add new employees needed with commercial service returning to central Massachusetts;
  • USD70 million investment in safety and security personnel, technology, training and inspections to keep the people who use and who work at our facilities safe. USD20 million will fund new security camera coverage, new access control and cyber security systems;
  • USD35 million to improve customer service at Boston Logan,with new costs of nearly USD14 million for the operation of the new rental car centre and the unified bus system that will replace some 90 diesel powered vehicles with 30 Massport-owned clean diesel electric hybrid buses;
  • USD4 million designing, fabricating and installing dynamic messaging signs that provide real-time information about buses;
  • USD24 million to be spent in support of summer jobs, donating to community causes;
  • USD19 million in payments in lieu of taxes to Boston, Winthrop as well as supporting the city of Chelsea. [more - original PR]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More