The port has a long history of being fiscally responsible, but that can quickly change if focus on financials is lost. Jack will make sure that doesn’t happen.
A balanced budget and adequate reserves are always required. Equally important is developing and communicating a long-term financial strategy, especially for the use of property taxes and debt financing. The port Commissioners play an important role in making sure this occurs and that the details and forecasts are accurate and conservative. Jack’s extensive experience in private business, government, and non-profits gives him the ability to ensure this happens.
Diversification is important, especially when the economy slows. The port’s portfolio must include a diversity of revenue streams. The port’s resources must be invested by looking at the long-term benefits and risks, not just the short term.
Jack will help the port increase marketing efforts that pursue innovative business opportunities and renewable, clean energy projects. The ability to handle bulk cargo and the rail improvements are competitive advantages. Clean energy is a growing business sector. The port will benefit in the long term by making these areas of focus.