Of the $127.1 million invested in capital improvements during 2002, $27.9 million will be invested in improving the Port's existing international container terminals. Another $18.9 million is earmarked for intermodal rail and road improvements.

The Port's five-year capital improvement program calls for up to $403 million in new investments, both to expand existing facilities and terminals and build additional terminals. The Port Commission reviews and approves all capital improvement projects on a case-by-case basis, evaluating them in light of financial, market, and economic factors as well as the Port's goal of creating 15,000 jobs by 2015 at wage rates 15 percent higher than the state average.

"Our capital improvement program keeps us focused and flexible," says Jack Fabulich, Vice President of the Commission. "We don't build major new terminals on speculation. We build when we have a customer signed on the dotted line."