What’s At Stake
Three billion bright spots
In the first decade of the 21st Century, private sector employment inside Seattle fell by more than 43,000 jobs. That data comes from the Puget Sound Regional Council and it provides a gloomy backdrop for one major bright spot.
During the same time, jobs in the marine cargo sector in SODO grew by 30% to more than 12,400, with spinoff growth of thousands of other jobs in many other parts of the economy. Business revenue in the sector also grew by nearly 150% to $3 billion per year, while annual tax revenues grew to $254 million.
These numbers come from an ongoing survey of companies that utilize the marine cargo terminals owned by the Port of Seattle.
One-third to half of this activity depends on trucks and the ability of their drivers to travel efficiently on a handful of east-west roadways connecting Elliott Bay marine cargo terminals with railroad yards and the regional highway network.
Maintaining through capacity for these trucks in the midst of growing traffic congestion is a major challenge at the root of a new proposal to build a third major league sports facility in northwest SODO.
The risks of the venture are compounded by the fact the proponents seek a binding legal agreement from local elected officials to support the arena before the transportation and other environmental impacts are reviewed.
Is it worth the risk? Or a pig in a poke?
Prudence says take a closer look.