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Port Houston Committed to Sustained Growth

November 16, 2018

HOUSTON--(BUSINESS WIRE)--Nov 16, 2018--The Fiscal Year 2019 Operating and Capital Budget was approved Tuesday during the Annual Budget Workshop, a special meeting of the Port Commission of the Port of Houston Authority. Projecting solid growth of revenues at 6 percent fueled by container terminals, the operating cash flow generated will support the 2019 Capital Budget of $287 million.

With the approval of the budget, the Port Commission further demonstrated its commitment to growing the business of the busiest port on the U.S. Gulf Coast with reinvestment of these funds to advance Port Houston’s vision to be America’s Distribution Hub for the Next Generation.

Following the Budget Workshop, government relations staff led a review of public policy priorities of federal legislation in the best interests of Port Houston and growing and maintaining the efficiency and safety of the Houston Ship Channel, the nation’s busiest waterway. State and local legislative matters were also discussed.

The next regular Port Commission meeting is scheduled to be held Wednesday, Dec. 12 at 9 a.m.

The Fiscal Year 2019 Operating and Capital Budget can be found here. http://porthouston.com/wp-content/uploads/PHA_OperatingBudget_2019_Approved_2018-1113v2.pdf

About Port Houston

For more than 100 years, the port has owned and operated the public wharves and terminals of the Port of Houston – the nation’s largest port for foreign waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the nation. It supports the creation of nearly 1.175 million jobs in Texas and 2.7 million jobs nationwide, and economic activity totaling almost $265 billion in Texas – 16 percent of Texas’ total gross domestic product – and more than $617 billion in economic +impact across the nation. For more information, visit Port Houston’s website at: .

View source version on businesswire.com:https://www.businesswire.com/news/home/20181116005529/en/

CONTACT: Port Houston

Lisa Ashley, Director, Media Relations

Office: 713-670-2644; Mobile: 832-247-8179

E-mail:lashley@poha.com

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: TRANSPORT MARITIME RAIL TRUCKING OTHER TRANSPORT MANUFACTURING LOGISTICS/SUPPLY CHAIN MANAGEMENT CHEMICALS/PLASTICS STEEL TEXTILES

SOURCE: Port Houston

Copyright Business Wire 2018.

PUB: 11/16/2018 04:52 PM/DISC: 11/16/2018 04:52 PM

http://www.businesswire.com/news/home/20181116005529/en

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