Bruce Faires – By the Numbers
Bruce Faires has a nearly two-decade record of running the Port as one of the most successful in the United States. Bruce will continue his efforts to provide the public with an economically vital public facility – maintaining solid revenues and low taxes.
Strong Revenue - Low Taxes
Under the leadership of Bruce Faires, the Port of Edmonds is among the most fiscally sound ports in the region and the country. With a model that promotes strong, sustainable businesses that create family-wage jobs for the community, the Port of Edmonds runs primarily on revenues from marina operations and the various business properties it manages. Taxes represent only 5 percent of Port revenues – and Bruce Faires is and always has been committed to keeping public dollars to a minimum.
320% Increase in Net Income
Bruce Faires understands that the Port of Edmonds is a public business. And he has worked for nearly two decades to build the Port into a business that has seen a more than three-fold increase in net revenues. By building a strong and sustainable revenue base for the Port, and keeping expenses down, Bruce has made it possible for the Port to see a 66% drop in the tax levy rate – and see to it that 95% of Port revenues come from business, not taxes.