Port of Oakland forecasts steady growth as partners invest nearly $700 million
Containerized cargo volume moving through this city is expected to increase 2 percent annually for the next five years. The catalyst for growth: a nearly $700 million injection of capital from outside investors. That’s the message Port of Oakland officials delivered to trade and transportation leaders here this week, the company said in its press release.
The Port boss said investment in facilities and infrastructure is boosting Oakland’s global trade status. Projects range from a new logistics campus to an online information gateway for cargo owners.
Port Maritime Director John Driscoll predicted that new development would increase cargo volume on Oakland docks. Cool Port alone could account for more than 50,000 20-foot containers of cargo annually, he said.
About the Port of Oakland
The Port of Oakland oversees the Oakland seaport, Oakland International Airport, and nearly 20 miles of waterfront including Jack London Square. The Port's 5-year strategic plan - Growth with Care - pairs business expansion with community benefits, envisioning more jobs and economic stimulus as the Port grows. Together with its business partners, the Port supports more than 73,000 jobs in the region and nearly 827,000 jobs across the United States.
