Port of Long Beach sets US$760m annual budget

The Long Beach Board of Harbor Commissioners have approved a US$760m budget for the Port of Long Beach for the 2024 fiscal year, establishing a new plan to fund new capital improvements in rail, zero-emissions and other infrastructure.

Later this year, the budget – which includes a record US$25.8m transfer to the city’s Tidelands Operating Fund which supports quality-of-life projects along Long Beach’s coastline – will be sent to the Long Beach City Council for approval.

The port’s budgeted spending for the 2025 fiscal year, which begins October 1, is 19.5% higher than the budget adopted for last year.