The Tampa Port Authority has announced that it will purchase 110 acres for cargo and other maritime purposes, near its Port Redwing facilities, in south Hillsborough County.

The $9.2 million purchase from South Bay Corp. and Industrial Park, Inc., will enable the port authority to continue to expand the footprint of the state’s largest port, develop the land for cargo terminals and distribution, cargo generating industries and port services.  This will provide for continued growth of port and economic development. The port authority’s strategic, long-range plan calls for continued land acquisition and strengthening its diversified lines of business.

“The decision to purchase this industrial site is a very significant benchmark following our firm commitment to build this port and underscores our strategic focus,” Richard Wainio, port director and chief executive, said.  “We are a unique port in this regard, as we are able to grow in size as well as in our diverse portfolio, maintaining solvency in this economic downturn, and our position as the region’s largest economic engine.”