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REDWOOD CITY, CALIF.— The Port of Redwood City announced that the fiscal year closed positively with $9 million in gross revenue. Property rental, leases and new business lifted the Port’s gross revenue and contributed to an increase of 3% or $270,000, compared to the previous fiscal year of $8.7 million.
The Port’s total cargo tonnage decreased to 1.8 million metric tons, which was a 291,000 MT reduction from the prior fiscal year’s tonnage. This was due to impacts associated with the continued COVID-19 pandemic, but Port officials are optimistic about the upcoming fiscal year. Port tenants and their operations have weathered the pandemic and all indicators within the global supply chain remain strong for both the construction industry and well as the recycling needs of the Silicon Valley region.
The pandemic also brought new uses to the Port’s recreational waterfront, including a commercial fishing vessel, Pioneer Seafoods, offering “ocean to table” fresh fish sales nearly every weekend along the Port’s waterfront. The Port is focused on continued activation of its waterfront for the community, with a new public fishing pier due to be completed by November 2021.
“The Port is thrilled to have welcomed new tenants, such as Pioneer Seafoods, during the recent fiscal year,” explained Port of Redwood City Executive Director Kristine A. Zortman. “Despite the lower tonnage, our revenues have remained strong allowing us to offer new recreational amenities and uses to our community later this year.”
The Port is actively advancing the future public ferry project in partnership with the City of Redwood City and the San Francisco Bay Area Water Emergency Transportation Authority. From partnering with the City of Redwood City’s Parks and Recreation Department on community events, to promoting tenants that offer waterfront recreation activities, the Port has renewed its waterfront for residents and visitors.
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