City’s Port Lost Nearly $1 Million Over Last Year
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From Times Wire Reports
Citing increased competition and the state’s sluggish economy, Port of Sacramento officials announced a loss of nearly $1 million during the last fiscal year. The loss is about $50,000 more than expected.
The port’s seven-member commission also reported that an expected $4.9-million land sale for a new bottling plant has been delayed by PepsiCo.
Officials said the port’s problems stem from increased competition for rice transportation from the Port of Stockton, which has deeper shipping channels that can take bigger ships.
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