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Economic Value of Your Port

Your Port of Skagit is the proud steward of approximately 1,915 acres of land within the port district. These lands comprise light industrial property, heavy industrial property, agricultural land, high-value wetlands and open space.

Approximately 485 acres (25.3 percent) of Port-owned property is developable land. Currently, 221 acres are leased, leaving lots of room for future development. The average book value of one acre of developable land at the Port of Skagit is $65,898.

Why is this important? Because for every acre of port land that is leased, the community receives these returns:

  • $1,114,799 in direct business revenue
  • Seven direct jobs, with salaries 13 percent above the Skagit County average
  • Seven indirect jobs
  • $68,438 in state and local tax revenues
  • $6,911 annual land rent

The Port of Skagit uses the revenue generated by its leases to pay overhead and to invest in income-producing assets. To ensure the Port of Skagit can continue to produce a high return on investment in the years to come, our economic development strategy focuses on recruitment of high-caliber companies that will create sustainable household wage jobs for people in Skagit County.
 

Getting Results

The Port of Skagit and its tenants at Skagit Regional Airport, Bayview Business Park, La Conner Marina and Conway industrial site contribute to the community in the following ways:

  • 1,042 direct jobs with an annual payroll of approximately $40 million;
  • 740 indirect jobs in Skagit County with an annual payroll of approximately $24 million;
  • Port properties are home to 80 business tenants that produce approximately $258 million in annual revenue;
  • With a millage rate of 20 cents per $1,000 assessed value, the Port delivers one direct job to the community for each $1,725 of tax collected. The Port receives just 2 cents of each dollar in property tax collected in Skagit County.
  • The port produces $36 in direct and indirect wages for each dollar of property tax it collects.
  • 60,000 annual operations at Skagit Regional Airport, including business, commercial and recreational aircraft.
  • More than a half-million air cargo packages handled per year at Skagit Regional Airport;
  • More than 4,000 overnight boat visits annually at La Conner Marina boost local tourist spending by nearly $1 million a year.