Investments and implementation
How will WSF make investments and implement the Long Range Plan?
Plan implementation schedule
The Draft Long Range Plan outlines a phased approach for service changes, fleet modifications and terminal projects in the short, medium and long term.
- Near term (0-2 years) – Stabilizing the system
- Medium term (3-7 years) – Building the infrastructure
- Long term (8-20 years) – Responding to growth
- Service changes include adding service hours and increasing passenger capacity on key routes.
- Fleet modifications include retiring the oldest ferries, constructing 16 new vessels (with Option A for Edmonds/Kingston), and converting six existing vessels to hybrid electric power.
- Terminal projects include preservations and improvements to all terminals, including the Eagle Harbor Maintenance Facility and utility upgrades for electric charging at 18 terminals and the Eagle Harbor Maintenance Facility.
Capital and operating costs
The total cost to implement this plan over the next 20 years is $14.2 billion.However, dedicated tax revenue and fare collection are projected to cover $7.5 billion of these costs. Historically the Legislature has appropriated additional revenues to cover the shortfall between dedicated WSF revenues and WSF operating and capital funding needs. Over the 20-year planning horizon, WSF’s total funding needs exceed dedicated revenue by a combined capital and operating amount of $6.7 billion over the 20 years.
With the capital investments in vessel and terminal electrification identified in the plan, future fuel and energy costs are projected to be lower than what they are today, providing some financial stability and cost savings. Labor costs grow with inflation and as the fleet grows, requiring more crew.
Operating revenue recovery
Ridership is projected to grow over the next 20 years and even with operational cost increases, due to an increased fleet size and additional service hours, operating revenue recovery stays relatively constant. Operating revenue recovery (also known as farebox recovery) is the percentage of the routes total costs that are paid for by customer fares.