The Port of Palm Beach has reported a landmark fiscal year with its latest audit revealing record-breaking revenue and cargo activity for 2024. The port achieved a gross revenue of $27 million, marking the highest in over twenty years.
In terms of cargo, the port handled 2.8 million tons, an increase of 12 percent compared to the previous year’s 2.5 million tons. This surge was driven by various cargo types such as asphalt, molasses, raw sugar, and cement.
“Together with port staff and the Port of Palm Beach Commission, we are focused on the port’s long-term success, increasing revenues, and continuing to create new jobs,” said Port Executive Director Michael Meekins.
Meekins anticipates continued growth as new agreements come into effect. “These additional earnings will afford us the ability to fund millions in critical infrastructure projects in the coming years,” he added. “It also gives us the opportunity to keep up with the growth of our tenants and users.”
The port also reduced operating expenses by 7 percent while investing in infrastructure restoration during fiscal year 2024. This demonstrates how efficiency and strong partnerships can yield significant results.
“This record-breaking year also highlights the port’s long-standing commitment to financial self-sufficiency,” stated Port of Palm Beach Commission Chairman Blair J. Ciklin. “For half a century, we have been able to support port operations and infrastructure improvements without placing a tax burden on residents of the district.”
The Port of Palm Beach continues to play a crucial role in supporting more than 3,800 jobs and connecting businesses to global markets.
