Port Tampa Bay has set an operating revenue record at $55.4 million for the Fiscal Year 2017, which ended September 30th, according to a statement.
This record beats the previous high of $51.3 million in FY2015 and a 12.6% increase over FY2016’s figure of $49.2 million.
Port Tampa Bay officials attribute FY17’s success to additional cruise activity, new and expanded leases like the Port Logistics Cold Storage facility, set to open later this month, and imports of increases in commodities like petroleum, cement, phosphate, and steel.
“I am thrilled that the Port is shattering revenue records,” said Steve Swindal, Chairman of the Port Tampa Bay Board of Commissioners. “It speaks volumes about the leadership of Port Tampa Bay President & CEO Paul Anderson and his team, who continue to generate millions of dollars of economic impact for the Tampa Bay community.”
The $55.4 million figure represents an $11.7 million increase over FY2012’s figure of $43.7 million. During Anderson’s tenure, beginning in 2013, Port Tampa Bay has seen a nearly 27% increase in overall operating revenue and decreased its ad valorem tax rate by more than 31%. Ultimately this continual decrease of the ad valorem tax rate will remove Port Tampa Bay off the county tax rolls within a decade.
