Cruise sector helps push Tampa to record $55m operating revenue

Port Tampa Bay set an operating revenue record of $55.4m for fiscal year 2017, which ended Sept. 30. This eclipses the previous high of $51.3m in fiscal 2015 and is a 12.6% increase over 2016’s $49.2m.

The operating revenue figure includes only those dollars generated as a result of Port Tampa Bay operations. It does not include ad valorem tax revenue or grants.

Port officials attributed the record to additional cruise activity, new and expanded leases like the Port Logistics Cold Storage facility set to open later this month and increased imports of 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. 'It speaks volumes about the leadership of Port Tampa Bay president and CEO Paul Anderson and his team, who continue to generate millions of dollars of economic impact for the Tampa Bay community.'

The $55.4m figure represents an $11.7m increase over fiscal 2012’s $43.7m. During Anderson’s tenure, beginning in 2013, Port Tampa Bay has posted a nearly 27% increase in overall operating revenue and reduced its ad valorem tax rate by more than 31%.

Ultimately this continual decrease of the ad valorem tax rate will remove Port Tampa Bay from county tax rolls within a decade.

Posted 10 October 2017

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Anne Kalosh

US editor of Seatrade Cruise Review and Seatrade Cruise News

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