2022 Annual report / Georgia Ports Authority.

2022 ANNUAL REPORT

GOVERNOR BRIAN P. KEMP
PORTS DELIVER JOBS, INVESTMENT FOR GEORGIA
Our deepwater ports in Savannah and Brunswick are powerfully fulfilling their mission to drive economic development in communities across Georgia. Beyond our marine terminals, the GPA supports global commerce in farming, forestry, manufacturing and retail, benefiting every one of our counties. As a small business owner for over 35 years, I'm proud to share that 85 percent of Georgia's exports last year came from small businesses. GPA's expansive logistics network is a big reason we remain the best state in which to grow or expand a business. As the hub in a global supply chain of road, rail and ocean carrier connections, our ports link Georgia businesses to international trade lanes and open doors to prosperity for our state and nation. The Georgia Ports Authority and its partners in the logistics industry enable job creators to stay connected from sites across the state, whether they are in small communities or our thriving urban centers. From day one, my administration has prioritized bringing jobs and investment to every corner of our state. We are proud that companies continue to recognize the advantages of Georgia's business-friendly environment, superior logistics network, top-ranked workforce training program, and our relentless pursuit of being the best state in the nation for Americans to live, work, and raise a family.

CHAIRMAN JOEL O. WOOTEN
PLANNING, INNOVATION KEY TO PORTS' SUCCESS
Powerful support from new and existing customers has resulted in remarkable growth at the Georgia Ports Authority. Just five years ago, our terminals moved a total of 33 million tons and 3.8 million twenty-foot equivalent container units (TEUs). In Fiscal Year 2022, Georgia Ports improved on that performance by an impressive 24 percent for tonnage and 50 percent for TEUs. To better accommodate that growth, the GPA Board approved $355.8 million in capacity expansion projects. At the deepwater ports of Savannah and Brunswick, we're increasing our workforce, and expanding berth and yard capacity to handle additional containers, vehicles and breakbulk cargo. The investment is part of an overall strategy to accommodate increased demand, while delivering the world-class service and reliability that have become synonymous with Georgia Ports. At the Georgia Ports Authority, we are committed to serving the citizens of our state and nation as a dynamic, supportive gateway for international commerce. Our central mission is to empower entrepreneurs and strengthen industries by providing the most efficient connections to overseas markets for imports and exports.

EXECUTIVE DIRECTOR GRIFF LYNCH

GEORGIA PORTS, PRIVATE INDUSTRY STEP UP TO MEET DEMAND
Georgia's logistics community was tested by a wave of cargo and various supply chain challenges in FY2022. I am proud of the way our employees, along with Gateway Terminals, ILA, trucking and rail, river pilots and other transportation professionals kept cargo flowing.
Together, we provided vital support for jobs and industry across Georgia. Our deepwater ports in Savannah and Brunswick once again served as an example to the nation in bringing creative solutions to bear.
Expanded rail and terminal capacity, increased staffing and gate hours, and six pop-up rail yards allowed GPA to overcome serious headwinds. When our customers needed us most, Georgia Ports delivered--building infrastructure, handling record trade, and thinking beyond our ports.
Similarly, private industry responded with a construction boom, lifting Savannah's industrial real estate market beyond 100 million square feet.
A deepened Savannah Harbor now accommodates big ships more easily. Our landside projects complement the harbor expansion by giving us the capacity we need to handle high-volume container vessel exchanges.
GPA would also like to thank our Washington delegation for shepherding provisions within the Water Resources Development Act benefiting Brunswick Harbor. Federal appropriations are now covering engineering and design of improvements to make vessel transit faster and safer.
At GPA, our focus on expanding service capacity means businesses that choose Georgia are assured of our ability to grow along with them.

561,000 JOBS IN GEORGIA $59B IN STATE GDP
$1.8B IN LOCAL TAXES $9.4B IN STATE & FEDERAL TAXES

BY THE NUMBERS

5.76M
TEUs
PORT OF SAVANNAH
Fiscal Year 2022 was another record-breaker for the Port of Savannah, with container volumes growing 8 percent for a total of 5.76 million twenty-foot equivalent container units. Export loads accounted for 1.32 million TEUs for GPA, while import loads totaled 2.86 million. Top exports included forest products, kaolin clay and automotive cargo. Top import commodities included furniture, machinery and plastic goods.

596,887
UNITS

28,476
LIFTS

PORT OF BRUNSWICK
Colonel's Island Terminal at the Port of Brunswick handled 596,887 units of vehicles and heavy equipment in FY2022, making Georgia one of the nation's busiest Ro/Ro hubs. To prepare for future growth, GPA has a $246 million development plan for Colonel's Island, including a fourth berth to better accommodate ships carrying more than 7,000 vehicles. Berth construction is anticipated to be complete by 2025.

APPALACHIAN REGIONAL PORT
In Fiscal Year 2022, the Appalachian Regional Port handled approximately 28,500 containers. To prepare for additional business, Georgia Ports has expanded the ARP by six container storage bays. The new bays add 390 twenty-foot equivalent container units of stacking space, or 25,000 TEUs in annual capacity. The ARP is now equipped to handle 145,000 TEUs per year.

47 FT / 54 FT
LOW TIDE / HIGH TIDE
SAVANNAH HARBOR EXPANSION PROJECT
The Savannah Harbor Expansion Project is now complete, deepening the river channel to 47 feet at low tide (54 feet at high tide). The project expedites the flow of cargo by reducing tidal restrictions for mega-ships transiting the Savannah River. Georgia exporters now have greater opportunity to move goods overseas, because ships can take on an average of 1,000 additional containers.

GROWING BIG

1,880
EMPLOYEES

1.5M
TEUs ANNUALLY

TEAM GPA
Running North America's single largest and fastest growing container terminal, and the country's second busiest auto port requires leadership, teamwork and discipline. GPA's customer-centered philosophy has made it convenient, simple and cost-effective to move cargo through Georgia's ports. Port users are continually impressed with the level of service they receive from GPA's 1,880 employees.

LOOK AHEAD
The Georgia Ports Authority is conducting a series of infrastructure projects that will speed the flow of container handling at the Port of Savannah.
New big ship berth, adding 1.5 million TEUs of annual berth capacity 1 million TEUs of new annual container yard capacity Cross-dock facility to transfer goods from containers to 53-foot delivery trucks Refrigerated container capacity increased to 4,000 boxes Rubber-tired gantry crane fleet expanded from 198 to 234
The Authority anticipates spending $4.5 billion on capacity building projects over the next 12 years.

FINANCIALS

CONDENSED STATEMENTS OF NET POSITION (IN THOUSANDS) AS OF JUNE 30, 2022, 2021 AND 2020

ASSETS
Current Assets Capital Assets Other Long-Term Assets
Total Assets
Deferred Outflows of Resources

FY2022
$1,232,567 1,825,138 235,183
___________ ___$_3_,2_9_2_,_8_8_8
$26,942

LIABILITIES
Current Liabilities Other Non-Current Liabilities
Total Liabilities Deferred Inflows of Resources

$117,646 580,673 ___________ ____$_6_9_8_,_3_19_ $197,907

NET POSITION
Net Investment in Capital Assets Restricted for Debt Service Unrestricted
Total Net Position

$1,630,402 16,295
776,907 ___________ __$_2_,_4_2_3_,6_0_4_

FY2021
$577,226 1,589,653
194,866 ___________ ___$_2_,_3_6_1,_74_5_
$37,449
$92,668 93,095
___________ ____$_1_8_5_,7_6_3_
$168,804
$1,588,785 -
$455,842 ___________ __$_2_,_0_4_4_,6__2_7

CONDENSED STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION (IN THOUSANDS) FOR THE FISCAL YEARS ENDED JUNE 30, 2022, 2021 AND 2020

Operating Revenues

$833,406

$610,586

Operating Expenses

461,614 ___________

396,541 ___________

Operating Income

371,792

214,045

Non-Operating Income (Expense)

(7,654)

(10,204)

Capital Contributions Repaid to the State of Georgia

-

-

Capital Contributions

14,839 ___________

8,473 ___________

Change in Net Position

____$_3_7_8_,_9_7_7

_____$_2_12_,_3_14_

CONDENSED STATEMENTS OF CASH FLOWS

Cash Flows from Operating Activities

$428,801

$316,411

Cash Flows from Investing Activities Cash Flows from Non-Capital Financing Activities

5,461 (2,844)

3,219 (8,454)

Cash Flows from Capital and Related Financing Activities

189,885 ___________

(213,315) ___________

Net Increase in Cash and Cash Equivalents

621,303

97,861

Balances -- Beginning of the Year

469,359 ___________

371,498 ___________

Balances -- End of the Year

___$_1,_0_9_0_,6__6_2

____$_4_6_9_,3_5_9_

FY2020
$445,013 1,460,779
201,950 ___________ ___$_2_,_10_7_,_74__2
$53,264
$44,312 105,503 ___________ _____$_14_9_,_8_15_ $178,878
$1,460,307 -
372,006 ___________ ___$_1_,8_3_2_,_3_13_
$476,967 342,510
___________ 134,457 1,741 (5,472) 5,774
___________ ____$_1_3_6_,5_0_0_
$180,640 3,264
(5,216) (207,896) ___________
(29,208) 400,706 ___________ ____$_3_7_1_,4_9_8_

GAPORTS.COM