We ended fiscal year 2018-2019 – and the decade – on a high note, setting a port record $67.5 million in operating revenue, driven by fiscal year records in container volume, vehicle units and total tonnage. We also enjoyed a strong year in our cruise and bulk businesses, rounding out strong performance across the board.
The records set in 2019 enabled JAXPORT to maintain our position as Florida’s No. 1 container port by volume, the nation’s second-busiest vehicle handling port, and the largest U.S. mainland port for trade with Puerto Rico.
As we continue to plan and prepare for the future, our focus remains on fiscal responsibility, sustained revenue growth and return on investment for our community.
Looking to the next decade and beyond, the infrastructure projects currently underway are key to the port’s ability to meet the demands of the global economy, and continue to create jobs and opportunity for Northeast Florida.
JAXPORT’s single biggest growth project, the deepening of our federal shipping channel to 47 feet from its current depth of 40 feet, remains two years ahead of its original schedule, with anticipated completion in 2023, based on continued funding from all partners.
To accelerate completion of this critical growth project, we employed a creative financial solution by engaging a private partner, SSA Atlantic. Together, along with support from our federal, state and local partners, we recently broke ground on a $238.7 million international container terminal that will be complete around the same time as our deepening project.
The terminal agreement includes private funds going toward the deepening project. This public-private partnership speaks to the opportunity that exists in Jacksonville, and enables us to stretch everyone’s dollar further—giving our community a solid return on the public money entrusted in us.
Similarly, we expanded space in FY 2019 for our automobile processors and the automakers who import and export nearly 700,000 vehicles annually through our port, reflecting out commitment to this important business line.
One of this year’s greatest honors came directly from our customers: readers of a top industry publication voted JAXPORT the No. 1 port in the nation for customer service and performance excellence.
As part of our commitment to creating an environment where our port partners and customers thrive, we also reimagined our brand with a new logo that reflects JAXPORT’s worldwide trade lanes and strategic location at the crossroads of the nation’s rail and highway network.
As Northeast Florida’s economic engine, every dollar invested in our port allows us to continue to build on this momentum and fulfill our mission of attracting new businesses to Jacksonville, creating more jobs for our community, and putting more revenue back into the economies of our region and state.