The Florida economy is headed in a positive direction if business prospects at the Port of Tampa are an indication, port officials said today in laying out fiscal 2012 budget plans.
Multiple signs ranging from a recovery in shipments of steel for construction to a projected increase in container cargo shipments of high value goods like electronics and furniture cast a brighter regional business outlook than in recent months.
"Ports tend to be indicators of economic performance --in fact leading indicators -- of when businesses start to spend money," Tampa port director Richard Wainio said.
Wainio said container cargo shipments could increase from an estimated 40,000, "20-foot equivalent units" this year to 72,000 in 2012. Some of the gains are attributed to service begun between Tampa and Brazil and Mexico this year that will operate over a full year.
Cruise passengers and revenue are expected to reach record levels, with Carnival and Royal Caribbean International upgrades in cruise ships and Norwegian Cruse Lines beginning service from Tampa this fall.
Wainio also said he may be able to seek earlier port authority board approval – possibly next month -- for final project plans with CSX Transportation to build the only dockside rail connection in Florida at the Port of Tampa.
"You are in the best shape of anybody in the community," said county commissioner and port board member Sandy Murman.
The port projects $29.2 in net income in 2012, nearly $3 million more than this year.
The port has proposed $76.4 million in new capital projects, including $29.5 million for petroleum facility improvements and $10.5 million for the gateway rail project, and another $11.5 million in projects will be carried over from this year.
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