Juneau – Today the Alaska House passed House Bill 65, authorizing the Alaska Railroad Corporation (ARRC) to issue up to $135 million in revenue bonds. This funding will facilitate the replacement and modernization of the aging passenger dock and terminal facility in Seward, Alaska.
Originally constructed in 1966, the existing Seward passenger dock has been a cornerstone of economic activity, significantly contributing to Alaska’s tourism and commerce sectors. However, after nearly six decades of service, the infrastructure has deteriorated and is approaching the end of its functional lifespan. The new facility is poised to enhance Alaska’s capacity to welcome visitors, bolstering the state’s vibrant tourism industry, which generated over $5.6 billion in economic impact during 2022-2023.
Representative Frank Tomaszewski championed similar legislation in the previous session, laying the groundwork for this critical infrastructure project.
“House Bill 65 is an amazing boost for Alaska’s economy. Replacing the Seward dock and building a new railroad terminal will bring larger cruise ships, boosting tourism and connecting visitors to communities across the state. This project creates immediate construction jobs, long-term careers, and opportunities for entrepreneurs. Investing in infrastructure like this strengthens our economy, encourages private industry, and puts Alaskans to work. This is about more than just a dock—it’s about building a stronger future for Alaska.” Stated Rep. Frank Tomaszewski (R-Fairbanks).
The project represents a collaborative effort between ARRC and Royal Caribbean Group, with the latter committing to a 30-year partnership as the dock’s primary tenant. This public-private partnership ensures that the associated debt from the bond issuance will be serviced through dock-generated revenue, without imposing liabilities on the state’s general funds.
The new Seward passenger dock is a strategic investment in Alaska’s future, poised to enhance economic growth, create jobs, and solidify the state’s position as a premier destination for travelers worldwide.