The Port of Redwood City ended its most recent fiscal year on a positive note.
The seaport closed the year with $9 million in gross revenue, 3% more than the previous year of $8.7 million. Officials are attributing the increase to property rental, leases and new business.
However, the port saw some impact from the effects of the COVID-19 pandemic, with a 291,000 metric ton-drop in total cargo tonnage, falling to 1.8 million from the same time a year ago.
However, port officials remain optimistic about the new fiscal year and a renewed focus on the port’s recreational waterfront. They lauded the arrival of commercial fishing vessel Pioneer Seafoods, which has been making fresh fish sales almost every weekend. There’s also a new public fishing pier expected to be finished by November and an ongoing partnership with the City of Redwood City and the San Francisco Bay Area Water Emergency Transportation Authority on a potential public ferry project.
“The port is thrilled to have welcomed new tenants, such as Pioneer Seafoods, during the recent fiscal year,” said port 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.”