Sunday, July 15, 2018
Business

Port Tampa Bay sets record with $55.4 million in operating revenue in 2017

TAMPA — Port Tampa Bay posted its biggest operating revenues ever this year — $55.4 million — beating its previous record from two years ago.

The total reflects revenue solely generated by port operations, not property tax revenue or grants, officials said.

The increase for the 2017 fiscal year, which ended Sept. 30, was driven by growth in cruise ship business, where the number of cruises sailing out of Port Tampa Bay rose 26 percent, but also in other areas.

"Basically in pretty much all of our lines of business, we've seen increases in revenue in 2017," port chief financial officer Mike Macaluso said Monday.

PREVIOUS COVERAGE: Port Tampa Bay finds niche in growing cruise industry

In 2017, the port handled nearly 15 million tons of commodities like petroleum, cement, phosphate, steel and aggregate materials such as limestone — a 6 percent increase over 2016. And the port signed new or expanded leases, including one for the Port Logistics cold storage facility scheduled to open later this month.

The port teamed up with Tampa real estate developer Richard Corbett to finance the construction of the 130,000-square-foot facility. Port Logistics of Orlando has a 27-year lease to manage the facility, which will receive, label, package and distribute refrigerated foods. Officials hope the new on-dock facility will bring in new business by offering a port three days closer to shippers than Philadelphia, which has the most cold storage food facilities on the East Coast.

Operating revenues rose 12.6 percent from last year's $49.2 million. The old record was $51.3 million in 2015.

"I am thrilled that the port is shattering revenue records," Port Tampa Bay board chairman Steve Swindal said in a statement released with the 2017 numbers.

Swindal credited port president Paul Anderson and his team for overall operating revenue increases of nearly 27 percent since Anderson became the port's CEO in 2013.

Meanwhile, the port has lowered its property tax rate by more than 31 percent. That reduction reflects a goal to grow self-generated operating revenues enough that the port eventually levies a property tax rate of zero and uses no county taxpayer money at all.

In August, the port said it was using about $11 million in taxpayer money exclusively for infrastructure projects. The port's current property tax rate means the owner of a home assessed at $200,000 will pay less than $20 in port-related taxes in 2018. Officials project the port is on a pace to be off Hillsborough County's tax rolls within a decade.

Contact Richard Danielson at [email protected] or (813) 226-3403. Follow @Danielson_Times

Comments
This Florida burger joint is one of the 10 best in America, travel website says

This Florida burger joint is one of the 10 best in America, travel website says

A 2½-hour drive south could land Tampa residents at one of America’s best burger joints, according the review and travel website TripAdvisor.com.The website released a list of the "10 Most Delectable Burger Joints" in America on Wednesday, placing Na...
Published: 07/14/18
SunPass is a mess. Florida could have seen it coming.

SunPass is a mess. Florida could have seen it coming.

Florida’s SunPass electronic tolling system is a mess. The vendor who runs the system has a backlog of unprocessed charges now running into the millions, a total accumulated since it stopped processing tolls on June 1.Earlier this week, after it bega...
Published: 07/13/18
Updated: 07/14/18
Florida’s economy passes $1 trillion mark Friday

Florida’s economy passes $1 trillion mark Friday

Florida may seem like another country sometimes with its wacky "Florida man" stories and uniquely-Florida crimes, but it’s like another country in a new way as of today — its economic clout. Florida’s economy topped $1 trillion Friday, meaning that i...
Published: 07/13/18
Free, eco-friendly taxi service is coming to downtown St. Petersburg this August

Free, eco-friendly taxi service is coming to downtown St. Petersburg this August

ST. PETERSBURG — As downtowns grow — like St. Petersburg’s burgeoning central city — so does traffic, carbon emission and the amount of money spent on gas.The Nickel Ride, a free, eco-friendly taxi service, is looking to change that, and the next cit...
Published: 07/13/18
So far, so good. Doctors at Tampa General find success with a device that fights often-fatal aneurysms

So far, so good. Doctors at Tampa General find success with a device that fights often-fatal aneurysms

TAMPA — Dr. Murray Shames holds a flexible, lightweight tube as wide as two garden hoses pushed together in his office at Tampa General Hospital. The polyester tube, and its thinner fastening branches with metal wiring, will be attached inside someon...
Published: 07/13/18
Is a bike lane backlash brewing over St. Pete’s MLK Jr. Street N?

Is a bike lane backlash brewing over St. Pete’s MLK Jr. Street N?

ST. PETERSBURG — In the next month, the city is poised to launch one of the most ambitious bike lane projects in the Tampa Bay area.But some local business owners want to stop construction of those bike lanes along two miles of one of the city’s busi...
Published: 07/13/18
Study says Tampa has some of the highest overdraft and banking fees nationwide

Study says Tampa has some of the highest overdraft and banking fees nationwide

Florida, including Tampa Bay, has some of the highest bank fees in the country, according to a recent study by bank comparison site DepositAccounts.The website broke down overdraft fees, third-party ATM fees and monthly service fees to rank the 50 bi...
Published: 07/13/18

Miss out on Build-A-Bear’s Pay Your Age deal? Chuck E. Cheese has a Friday solution

Did you and your kids miss out on pay-your-age Build-A-Bear promotion? Perhaps they’d rather play some video games over a slice of pizza.In a promotion that some may say smacks a bit of piling on, Chuck E. Cheese announced an All You Can Play promoti...
Published: 07/13/18
Brink: Extending the Suncoast Parkway has gone from boondoggle to folly

Brink: Extending the Suncoast Parkway has gone from boondoggle to folly

In a few short weeks, the Suncoast 2 toll road project has gone from boondoggle to folly.State officials pitched the 13-mile extension of the Suncoast Parkway as a step toward eventually linking the road to Interstate 75 near Ocala via a project dubb...
Published: 07/13/18
Nissan recalls about 105K cars to replace Takata air bags

Nissan recalls about 105K cars to replace Takata air bags

Associated PressDETROIT — Nissan is recalling nearly 105,000 small cars to replace Takata passenger air bag inflators that can explode and hurl shrapnel at drivers and passengers. Included are the 2011 Versa sedan and the 2011 and 2012 Versa hatchbac...
Published: 07/13/18