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Article: Honda deal to drive job, revenue growth in Richmond
- Article from:
- Oakland Tribune
- Article date:
- October 30, 2009
- Author:
CopyrightCopyright 2009 Oakland Tribune. Provided by ProQuest LLC. (Hide copyright information)
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Jobs and fresh revenue are bound for Richmond as part of a deal
that has taken nearly four years to finalize.
Construction is starting at the Port of Richmond to prepare for
the arrival of at least 145,000 Honda cars a year beginning in
April. The 15-year deal guarantees the city about $5.5 million
annually.
Factoring in assorted fees, the deal should generate a total of
at least $85 million in revenue for the city -- minus an initial
outlay of $37 million for port improvements.
"The city will have a significant amount of cash flow for many,
many years, and it'll provide a lot of jobs," port Director Jim
Matzorkis said. "These are blue-collar, good-paying jobs so people
can afford to raise a ...