Finance: Oakland, Tampa
Oakland: Record Operating Revenue in FY 2017
Port of Oakland collected operating revenue totaling $358.7 million in Fiscal Year 2017, up 6.1 percent from the previous high $338 million in FY 2015-16. July/June is the port’s fiscal year.
FY 2017 operating income increased 20.6 percent to $63.7 million., as revenue outpaced a 3.4 percent increase in expenses.
All three of the port’s business lines contributed positively to its FY 2017 performance:
- Aviation Division: $190.6 million, up 10.2 percent compared to FY 2015-16, thanks to an 8.4 percent increase in passenger traffic at Oakland International Airport.
- Marine Division: $151.4 million, up 1.8 percent despite revenue loss caused by the bankruptcy last year of a terminal operator.
- Commercial Real Estate Division: $16.7 million, up 2.9 percent, "thanks to a strong local property market."
Looking ahead, the port anticipates "strong growth" for aviation traffic and revenue, and "continued stability" in its seaport and real estate operations.
Port Tampa Bay Operating Revenues Hit All-Time High
Port Tampa Bay’s operating revenue reached a record $55.4 million in the fiscal year ending September 30. That eclipsed the previous high - $51.3 million in FY 2014-15 - and beat by 12.6 percent the FY 2015-16 total of $49.2 million.
Operating revenue counts only dollars generated by Port Tampa Bay operations. It excludes ad valorem tax revenue or grants.
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 increased imports of cargo commodities such as 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."
During Mr. Anderson’s tenure, which began in 2013, Port Tampa Bay has experienced a nearly 27 percent increase in overall operating revenue and slashed its ad valorem tax rate by more than 31 percent. If it continues, the downward trend would effectively remove Port Tampa Bay from the county tax rolls within a decade, the port says.