Port of Richmond Inks Multi-Million Dollar Deal With Car Maker

RICHMOND (KCBS) – Another major car maker apparently likes what it sees at the renovated Port of Richmond. Port officials are about to sign a five-year deal that could generate millions of dollars for the city.

KCBS’ Dave Padilla Reports:

Last year the port signed a 15-year deal with Honda, now Subaru is apparently getting ready to do business with Richmond with a five-year contract that City Manager Bill Lindsay said will bring millions of dollars to Richmond.

”The estimated annual gross revenue for a Subaru coming into the Port is about a million dollars per year,” said Lindsay. “And because there are fairly minimal facility improvements, the net over the five year deal would be about $400 plus coming into the Port of Richmond.”

Lindsay said that as many as 35,000 Subarus would be delivered to the Port over the length of the contract. Honda ships about 145,000 cars there annually.

The presence of both car companies will create jobs while filling the city’s coffers.

The Port recently made $40 million in improvements to help attract customers.

(© 2011 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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