Spotlight On: Raul Alfonso, EVP/Chief Commercial Officer, Port of Tampa Bay
Key points
- Unlike other ports that serve primarily as home ports, Tampa is a destination, with passengers typically staying 2-4 days to explore the region.
- Why is Tampa Bay an ideal location for a port and how does it compare to other Florida and regional ports.
- We’re a young port in the container business, with our first service starting in 2019.
August 2025 — Port Tampa Bay achieved record revenue of $84.4 million in 2024, driven by strategic diversification and $80 million in infrastructure investments. In an interview with Invest:, EVP Raul Alfonso highlighted the port’s deep-draft channel expansion and a nearly doubled economic impact of $34.6 billion, reinforcing its role as a key supply chain hub in Florida’s growing economy.
What are some key highlights from Tampa Bay Port’s recent growth?
We’ve been fortunate to experience record-breaking growth since we arrived in 2012, following a strong strategic business plan. Our 2024 Master Plan, just two years after COVID, really showcased the importance of our diversity. Many ports suffered significant losses when tourism declined — our port alone lost about 22% of its revenue from tourism. But because we had a diverse portfolio, we were able to grow across all our business areas. That resilience is our financial strength, and 2024 turned out to be another record-breaking year.
Some key numbers from 2024 highlight our success. We achieved $84.4 million in record-breaking revenue, welcomed 1.2 million cruise passengers, and handled 256,000 container moves. As Florida’s largest port by land, with over 5,000 acres, we facilitated 40 new lease transactions and terminal expansions, most of which are long-term leases spanning 20 to 40 years. These tenants make significant investments in assets, employment, and operations across industries such as fuel, aggregates, construction materials, container terminals, automobiles, and cruises.
What infrastructure and economic milestones have shaped the port’s success?
During 2024, we invested $80 million in capital projects to improve our facilities and secured $30 million in grant funding. The state of Florida strongly supports its ports, and Tampa Bay offers the best long-term growth potential due to its available land and strategic location.
A major milestone was the approval of our deep-draft channel project, which will deepen our port from 43 feet to 47 feet. This aligns us with other major Gulf ports like Houston, Mobile, and New Orleans. The approval process is lengthy — it still needs to go through Congress and appropriations before dredging can begin. But we hope to be underway by 2027, ideally completing it by Vision 2030, our long-term master plan.
Another significant achievement was our economic impact study, which revealed that our annual economic impact nearly doubled to $34.6 billion. The port directly supports 192,000 jobs, with an average salary of $74,000+, and contributes $10.2 billion in regional consumer spending, generating $1.2 billion in tax revenue.
Beyond cargo operations, we continue to expand community engagement. Our quarterly ship tours have become incredibly popular, selling out within minutes and accommodating 450-500 attendees per tour. On the cruise side, we had a record 1.2 million passengers last year. Unlike other ports that serve primarily as home ports, Tampa is a destination, with passengers typically staying 2-4 days to explore the region. Last year, we welcomed Margaritaville at Sea as a new cruise line partner, and we’re projecting 1.5 million passengers in 2025.
Why is Tampa Bay an ideal location for a port and how does it compare to other Florida and regional ports?
I’ve been in this industry for over 40 years, and when we arrived here, we immediately saw a great opportunity. Tampa Bay is Florida’s largest port in terms of inland availability and footprint. Historically, it has been an energy hub, and we will continue to grow that sector as Florida’s population expands.
The I-4 corridor, which connects Tampa to Orlando, is Florida’s primary distribution hub, with over 500 million square feet of warehouse space — and it’s still growing. We’re also seeing major distribution development along I-75 from Ocala to Naples.
We’re a young port in the container business, with our first service starting in 2019. Since then, we’ve grown from 40,000 containers to nearly 300,000 annually, and we expect to surpass that this year.
Florida’s other ports — like Miami and Jacksonville — serve specific niches. Miami is focused on local distribution and Latin American trade, while Savannah is the South Atlantic hub for Asian imports. Tampa, however, is strategically positioned to link Latin America, Mexico, and the Gulf with trans-Pacific trade routes.
We’ve invested heavily in infrastructure, with strong support from the state and private sector partners. Our container terminal capacity is approaching 1 million TEUs, and we’re expanding our capabilities with new cranes and equipment to handle larger vessels.
We also provide a significant cost advantage — our analysis shows that shippers can save $800 to $1,200 per container by using Port Tampa Bay because of its proximity to the distribution hubs.
Florida’s population is expected to reach 25 million by 2030, and Port Tampa Bay will be at the heart of that growth, serving as a vital supply chain hub for businesses, consumers, and the broader economy.
How is the Port aiding in the attraction of talent across maritime, port management, and logistics?
Tampa Bay is becoming a younger, more dynamic hub, especially in the technology sector. At the port, we’re deeply engaged with institutions like USF’s logistics programs, conducting presentations and tours to educate young professionals about the international maritime and port industry. This industry is exciting because it offers a range of careers — from blue-collar jobs like longshoremen, mechanics, and truck drivers to highly technical roles in security, finance, planning, real estate, and engineering.
How are you addressing supply chain challenges and disruptions?
The COVID-19 crisis made it clear how fragile the supply chain can be. The U.S. relies on just five major ports — Los Angeles/Long Beach, New York/New Jersey, Houston, Savannah, and the Pacific Northwest. When these ports face disruptions, the entire system suffers, leading to delays, shortages, and rising costs. The industry has since realized the need for alternative supply chain solutions, and Port Tampa Bay is positioning itself as a diverse and resilient cargo hub.
Florida is the largest consumer market in the U.S., accounting for 40% of total demand, including 140 million annual tourists. However, the state remains heavily dependent on Savannah for Asian imports. We’re working to change that by promoting closer, more efficient logistics solutions.
One key strategy is reducing empty truck miles. Right now, 80% of trucks leaving Florida are empty on their return trips north, yet freight rates for northbound routes are 50% lower. We’re working with trucking companies to optimize backhaul opportunities, cutting costs for shippers while reducing fuel consumption and emissions. For example, a fully loaded truck from Tampa to Atlanta takes just 7.5 to 8 hours and costs around $800 to $900 — half of which covers trucking costs, while the rest goes to drivers. It’s an economic and environmental win-win.
We’re applying the same approach to rail transport, leveraging our strong CSX intermodal connections. By filling empty railcars and optimizing logistics, we’re creating a more efficient, sustainable supply chain network centered around Port Tampa Bay.
How is the port using technology to enhance efficiency and security?
Technology is integral to our operations, from hurricane preparedness to cybersecurity. We’ve been fortunate to avoid direct hurricane hits, but last year alone, we had two close calls — one 190 miles west and another 140 miles south. Many of our colleagues and friends experienced flooding, and I even lost some roof shingles at home.
We take preparedness seriously, working closely with Tampa Electric (TECO) to harden our electrical infrastructure. The entire Hookers Point island — home to major port operations — is being reinforced to improve resilience. With hurricanes becoming more frequent, we have a well-established emergency protocol, including a 72-hour warning system, securing ships 36 to 48 hours in advance, and ensuring fuel supplies are ready for post-storm recovery. Our role is critical, as Florida’s fuel supply depends on the port, and we’re in constant coordination with state and local leaders, including the governor and mayor, during emergency situations.
On security and automation, we’re heavily focused on cybersecurity and port automation. While automation in container terminals has been a contentious issue — especially in labor negotiations — it plays a key role in improving efficiency. We collaborate with our tenants and container operators to ensure smart, sustainable investments in port technology.
Looking ahead, AI and automation will continue to shape the industry. The big question is: how much automation is too much? Finding the right balance is crucial — not just for efficiency, but for protecting jobs and maintaining a strong economy.
How is the future of port equipment manufacturing shaping the industry?
This is a major discussion point in the industry. Right now, China dominates the global production of port equipment, including cranes and container-handling machinery. There’s increasing interest in shifting manufacturing to the U.S., which would have significant implications for costs, employment, and supply chain resilience.
The trade-off is whether we prioritize lower prices or domestic job creation — a debate that will shape the future of port infrastructure. At the end of the day, we all want efficient, affordable trade, but we also want strong job growth and economic stability. Striking that balance will define the next phase of our industry’s evolution.
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