The money will go toward upgrading terminals, roads and a bridge, according to port officials.
The port’s operating budget is funded by revenues derived from the Port’s leases, fees and other charges on the shipping and goods movement companies that utilize the port, officials said.
“We are doing all we can to create jobs, invest in infrastructure and partner with the City of Long Beach to keep our economy moving,” said President of the Long Beach Board of Harbor Commissioners, Thomas Fields.
"We are very proud to be creating thousands of living-wage jobs each year and we’re working hard to do more.
“We are the Green Port, fueling the economy,” said Fields. “On behalf of the commission, we truly appreciate the mayor and city council’s support of our budget.”
As the second-busiest container seaport in North America, the Port of Long Beach moves more than $155 billion in trade annually, generating 30,000 jobs in Long Beach alone and 300,000 jobs throughout the Southern California region, officials said.In addition, the 2014 budget sets aside $73 million for environmental programs to improve air and water quality, as well as to protect wildlife habitat, port officials said.