Port of Redwood City celebrates its awarded security grant and fiscal year-end results
The Port of Redwood City is entering the end of the year with success. A special thank you to the Department of Homeland Security for awarding the Port with a $504,611 grant. The award is part of the annual Port Security Grant Program (PSGP), which is designed to protect critical port infrastructure from threats that could impact public safety, supply chain disruption, cyber threats or other security challenges.
Since 2018, the Port has received over $6 million in PSGP grant awards. This year’s allocation will further the Port’s operational efficiencies by helping with security equipment maintenance, backup generators for business continuity during electrical grid interruptions, exercise support and police marine unit support.
“Receiving the grant is an important part of our efforts to fortify our security at the Port," shared Port of Redwood City Executive Director Kristine A. Zortman. “As a FEMA Federal Staging Area for Silicon Valley and the greater San Mateo County, this further strengthens the Port’s emergency preparedness.”
Port authorities across the nation received $35.2 million in funding this year with the Port being one of 27 American Association of Port Authorities members to receive a grant.
Additionally, the Port is pleased to announce a record-breaking fiscal year-end. The Port closed the year by earning $10 million in gross revenue; a 4 percent increase from the previous fiscal year. This is a direct result of 1.82 million tons in cargo operations, an increase of 35,000 metric tons from the previous year. The Port continues to expand and grow, demonstrating a strong post-pandemic supply chain recovery. Rental rates also increased to assist in these record revenue results. The net results are $3.5 million to invest in infrastructure and recreational activities for our local community.
“Seeing an increase in yearly profits is exciting for many reasons, but especially knowing this means we can reinvest back into our local community,” continued Zortman.
To learn more about the Port of Redwood City or its upcoming events, please visit redwoodcityport.com.