An interlocal agreement (ILA) submitted by the ports of Seattle and Tacoma in October to form a Seaport Alliance took effect in December 2014.
The ILA which was submitted to the Federal Maritime Commission (FMC) and which was subject to a 45-day review and approval period joins the business objectives of the two ports – for strategic marine terminal investments financial returns performance metrics organizational structure communications and public engagement. The review period ended December 1. The port will submit a more detailed agreement for the Seaport Alliance around the end of March 2015.
A study in September estimated the economic value of the two ports together at $4.3 billion.