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Tampa Port Preparing For Economic Upturn, Boss Says

Photo from Port of Tampa

This year, cargo volume fell 6 percent to nearly 43 million tons.

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By RUSSELL RAY | The Tampa Tribune

Published: December 4, 2008

TAMPA - Facing another challenging year in a grim economy, the Port of Tampa is bracing for a drop in business in 2009 but is preparing for the day the economy starts to rebound, port director Richard Wainio said today in his annual state of the port address.

"Business spending is being curtailed, and trade has declined. Unfortunately, the bottom has not yet been reached," Wainio said. "2009 will be another year of decline for most key elements of the economy, both nationally and here in Florida."

Wainio said better days are on the horizon, pointing to new and expanded lease agreements and major investments in container cargo services, assets that will bolster business in 2010, when some expect the economy to bounce back.

"We are investing heavily in infrastructure that will position the port to serve our market when the upswing kicks in," he said.

Wainio touted two recent lease agreements to build oil storage tanks and a biodiesel production and storage facility. Together, the deals represent a $140 million investment that will create 120 permanent jobs.

This year, cargo volume fell 6 percent to nearly 43 million tons, and the number of cruise ship passengers has dropped 2 percent during the last year.

"Still, our port easily remains the largest in the state," Wainio said. "Our operating margins remain among the highest in the port industry."

Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.

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