I am pleased to be standing next to Mic Dinsmore today as we announce the “Connections for our Future” partnership.

Connections for our Future is a complex series of interconnected agreements that invest hundreds of millions of dollars affecting billions of dollars of economic activity in King County. It is by far the most ambitious local initiative undertaken in a generation and its benefits will be felt today, tomorrow and by all future generations.

Connections for our Future is the largest realignment of regional government responsibilities since the merger of Metro and King County in 1993.

Connections for our Future creates the largest green pathway in our region since the founding of the Mountains to Sound Greenway.

Connections for our Future is the most significant local public/private investment in the economic prosperity and quality of life in this region since the days of Forward Thrust.

Connections for our Future has as its center the acquisition by the Port of Seattle of the Burlington Northern/Sante Fe East Side Rail Corridor. The Port will then transfer the Eastside Corridor and funds for the development of “the granddaddy of all regional trails” to King County in exchange for Boeing Field, the King County International Airport, being transferred to the Port of Seattle.

But it is far more than that.

Connections for Our Future in unleashing the creative thinking of the region. Governor Christine Gregoire has stepped up with a 25 million dollar investment to help renovate Stampede Pass to allow double-stacked rail cars through the tunnel. Stampede Pass has been an identified rail choke point for years. This action by the Governor is a critical lynch pin of making Connections a reality and has the potential to dramatically increasing this region’s ability to move freight to the rest of the country. And Mic and I thank her for her leadership.

Connections for Our Future will also seek to establish a new intermodal rail yard which will make all of our western Ports much more efficient and effective as they compete with California and Canada.

When a viable intermodal yard is identified, King County will sell to the Port the Fisher Flour Mill on Harbor Island and become the new rail yard’s first investor. And the Port will be able to consolidate its holdings on Harbor Island and leverage the over 400 million dollars they have invested in making the Port a shipping container destination second to none.

Soon Mic Dinsmore will explain the benefits of these transactions in more detail. But before he does, I would like to explain to all of you the genesis of Connections for Our Future and why I support it as King County Executive.

I have often stated that in this new century, governments need to look at new approaches, new partnerships and new innovations to maximize the value and impact of taxpayer dollars. As I headed into 2006 two of the largest issues facing me and this region were:

The future of Boeing Field; and,

How would King County to realize the opportunity of a lifetime and acquire the Eastside Rail Corridor from BNSF estimated at hundreds of millions of dollars?

The answers to both came out of my 2005 experiences with Boeing Field.

I was proud to have considered the Southwest proposal last year. And I was more proud of the incredible men and women of Boeing Field. Throughout the best and worst of entire process they acquitted themselves with world class professionalism. I was proud of them then, and I am proud today. The employees who work at the airport continue to dedicate themselves tirelessly to serving the residents of King County and the region. And the results speak for themselves. Boeing Field improves every day and the estimated economic impact of their efforts to this region is 1.5 billion dollars every year.

You can see I am fond of King County’s airport. Yet without the dynamic infusion of a Southwest-type investment, the financial future of Boeing Field under King County is limited. Yet even so, I believe in that future. I would not consider transferring Boeing Field unless I believed it was truly in the best interest of the people of King County and only then if it could help create the opportunity of a lifetime.

Therefore, I approached Mic Dinsmore with what I believed was in the best interests of the people of King County and did create the opportunity of a lifetime. To trade Boeing Field for the East Side Rail Corridor. It is not easy to transfer the airport, but sometimes the wisdom of a vision is so strong, there is no denying it.

When Mic and I began to talk that vision took shape before our eyes and in no time we were breaking down barriers and creating innovative solutions.

We looked at the greater good and we decided to stop competing and start connecting.

And “Connections for Our Future” was born.

Connections acquires the East Side Rail corridor and will unite the nation’s best urban regional trail system with a backbone that is one of the nation’s longest rail preservation projects. It prevents a priceless 100 year old corridor from being lost forever.

Connections will allow families to ride from Kirkland to Kent and commuters to bike from Renton to Redmond.

Connections will make our families healthier, our people happier and our region more prosperous.

Connections will also unite the strategic management of two airports under one government to make this region more competitive internationally.

Connections will enhance the economic foundation of our region by creating the links by which goods will flow seamlessly from our ports to our roads and railways to our markets overseas and across the country.

We are proud of “Connections for Our Future” but want to assure everyone that today’s announcement is simply the first step on an exciting journey. These are concepts that have yet to be turned into final deals. Much work remains to be done.

In the coming weeks and months, County and Port staff will be reaching out to the County Council , the Port Commission, and across the region explain the proposal. We believe the residents of King County will agree with us, that this is a generational opportunity that must not be missed.

And now I would like to introduce to you, the Executive Director of the Port of Seattle, Mic Dinsmore.