The Initiative will attract innovative companies and accelerate investment on the waterfront, and strengthen San Francisco's impact in sustainable maritime innovation.
Contact: media@sfport.com
The Port of San Francisco today announced the launch of the Blue Economy Initiative, a new effort that will offer qualifying blue economy companies up to 50 percent off waterfront leases to accelerate innovation, attract investment, create jobs, and advance environmental stewardship along San Francisco's 7.5-mile waterfront.
The Initiative is designed to attract emerging and established companies developing solutions that improve Bay health while strengthening San Francisco's maritime economy. Through strategic leasing incentives, public-private partnerships, and ecosystem development, the Blue Economy Initiative will position San Francisco as a global destination for sustainable waterfront innovation.
"The Blue Economy Initiative positions San Francisco’s waterfront as a platform for the next generation of maritime innovation," said San Francisco Port Commission President Stephen Engblom. "By bringing together artificial intelligence, venture capital, research institutions, entrepreneurs, and our working waterfront, we can create new industries, expand equitable career pathways, attract long-term investment, and accelerate the resilience of our waterfront. In doing so, we honor the Burton Act not only by preserving our maritime heritage, but by creating the maritime economy of the future."
As part of the Blue Economy Initiative, the Port is proposing leasing incentives of up to 50 percent for qualifying companies that utilize both land- and water-based Port facilities. In total, the first phase of the initiative includes a $250,000 investment to accelerate tenant recruitment and strengthen San Francisco's impact in sustainable maritime innovation.
The Blue Economy Initiative will focus on attracting companies and partners working in:
- Sustainable seafood ecosystem
- Clean energy
- Bay health
- Sustainable tourism
- Digital technologies and artificial intelligence
- Workforce development
- Partnerships
"Blue economy partnerships are an important new strategy for our working waterfront," said Port of San Francisco Executive Director Michael Martin. "These leasing incentives will help attract innovative companies, diversify the Port's business portfolio, increase visitation, strengthen our maritime industries, and improve the long-term health of San Francisco Bay. It is truly a multi-benefit program and we are proud to see it launch."
"San Francisco’s Climate Action Plan shows how growth and innovation can strengthen our economy while protecting the places we depend on," said San Francisco Environment Department Director Tyrone Jue. "The Blue Economy Initiative puts that vision to work by connecting maritime innovation, good jobs, and a healthier Bay."
"Buoy-Fish started in a Russian Hill garage with a simple belief: San Francisco's waterfront can feed its people and its economy, without sacrificing the environment," said Buoy-Fish founder Jameson Buffmire. "The Blue Economy Initiative is proof the Port is serious about building an abundant, working waterfront."
Building on successful blue economy programs led by the Ports of San Diego and Los Angeles and Washington state's Maritime Blue program, the Blue Economy Initiative will be implemented in three phases:
- Phase 1: Launch the initiative, approve leasing incentives, establish partnerships, and complete initial tenant transactions.
- Phase 2: Expand the initiative, ecosystem to more than 50 partner organizations, grow programming, secure external funding, and plan dedicated innovation facilities.
- Phase 3: Strive for brick and mortar facility, diversify revenue sources, and grow the initiative and network to more than 100 ecosystem partners.
For additional information, please visit sfport.com/blueeconomy.
About the Port of San Francisco
The Port of San Francisco manages 7.5 miles of waterfront that is home to popular destinations and attractions, historic districts, small businesses and robust maritime opportunities. The Port works to advance environmentally and financially sustainable maritime, recreational, and economic opportunities for the City, Bay Area, and California.