The Port of Seattle has signed a 15-year lease with Norwegian Cruise Line (NCLH) to serve as a homeport for the cruise operator's vessels.
The new deal will see the company serving the cruise ships sailing to Alaska and is expected to bring $73m of revenue to the port.
Norwegian Cruise Line CEO Frank Del Rio said: "Alaska is a favourite cruise destination for guests on all three of our brands and Seattle, with its incredible culinary offerings, luxurious accommodations and outstanding attractions, makes for an ideal homeport.
"With primary use of the world-class facilities at Pier 66, we can further customise our guests' pre- and post-cruise experience and better align it with the superior service levels offered by our three award-winning brands."
As part of this development, Norwegian will provide $30m enhancements to the Bell Street Cruise Terminal with an aim to expand the portion of the P66 facilities used for processing cruise passengers.
Both the companies will provide equal investment to complete the terminal improvements.
The new agreement will also see Norwegian Cruise Line managing the cruise operations at Pier 66.
NCLH will have priority rights to the cruise vessel berth during the cruise season, while the port will operate the facilities outside the cruise season.
It is estimated that the new lease agreement will generate more than $2bn in total business revenue for the region, nearly 900 jobs, and over $65m in state and local taxes.