Port Canaveral, Florida officials released on Wednesday a healthy 2011 year budget proposal that's nearly 22 percent bigger than the 2010 plan. Thanks to expected larger-capacity cruise ships, such as Freedom of the Seas as well as cargo shipping, revenues from those two sectors are forecast to increase more than 23 percent, from the current $39 million to $48 million in 2011.
Port officials will vote on the 2011 budget plan in September and Port Canaveral's chief executive officer expects an even better budget picture in 2012.
Port Canaveral has been raking in the money despite other municipalities seek ways to shore up budget gaps. How does Port Canaveral do it? The port's revenues come mostly through lease arrangements with tenants, ship tariffs and other business dealings.
"It's amazing how well these numbers look," said Tom Goodson, chairman of the port commission, "because the real world is nothing like this."
Earlier this month Port Canaveral CEO J. Stanley Payne said that he wanted to add a brand new multimillion dollar cruise terminal to Port Canaveral. Port Canaveral is home to Freedom of the Seas as well as Monarch of the Seas.
