2020 Mid-Year Update shows remarkable economic impact and cargo tonnage numbers
REDWOOD CITY, CALIF.— The Port of Redwood City (Port) recently released its mid-year tonnage numbers and revenue, announcing 1.24 million metric tons of cargo generating $4.7 million of revenue for the period of July 1 through December 31, 2019. The Port’s mid-year results continue to demonstrate how maritime and commercial business on the waterfront fuel the local construction industry and support the regional economy with jobs, as well as provide needed community support.
“We are pleased that the Port of Redwood City has seen tremendous growth over the last few years. Our recent cargo numbers continue to validate a strong construction economic sector,” said Port of Redwood City Board Chair Ralph Garcia. “Our Port supports well-paying jobs in the region, while serving our community with global connections.”
The Port’s international trade for this period included cargo from Australia, China, Mexico and Canada. Export destinations included Bangladesh, Singapore, South Korea, Sri Lanka, and Indonesia. The mid-year numbers show continued success in the first half of this fiscal year, finishing the calendar year of 2019 exceptionally strong. Mid-year tonnage of 1.24 million metric tons compared to the projected 1.26 million metric tons was slightly lower due to a ship delay in late December. The Port expects that the year-end numbers will be in alignment with budgeted projections and prior year’s totals.
Other initiatives the Port launched during the first half of this fiscal year include activating the recreational waterfront for the community. The Port recently commissioned new public art, began offering permits to host waterfront events and hosted the annual PortFest to give the community a chance to enjoy and learn about the Port and its waterfront.
The Port supports the City of Redwood City’s strategic initiatives, including economic development, community building, transportation, and government operations.