Port of Los Angeles Approves $2 Billion Budget for Fiscal Year 2023/2024

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Written By Jennifer Joslyn

🚢 Port of Los Angeles Approves $2 Billion Budget for Fiscal Year 2023/2024.

The Los Angeles Board of Harbor Commissioners has given its approval to a $2 billion annual budget for the Port of Los Angeles for the fiscal year 2023/2024. The budget focuses on increasing investments in port infrastructure, supporting sustainability initiatives, and enhancing operational efficiency. Despite the challenges faced in the previous fiscal year, the Port forecasts a 5.1% year-over-year increase in cargo volumes, with a total of 8.9 million TEUs expected in FY 2023/24. The budget also allocates funds for environmental and decarbonization projects, as well as community-focused infrastructure improvements.

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Jennifer Joslyn
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