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One of the biggest “what ifs” when a group of Tampa Bay area officials launched a ferry service late last year was if — and when — it would make money.
The service answered that question within four months, recently announcing that it sent operating revenue back to the government partners that originally supported the six-month pilot project. The total surpassed $50,000 in February and late January, according to Tampa attorney Ed Turanchik, an adviser to the project, the Cross-Bay Ferry.
Under the operating contract, four governments originally funded the project. Those governments are the city of St. Petersburg; the city of Tampa; Hillsborough County; and Pinellas County. Once the ferry operator covered its management costs, money from ticket sales would reverse direction and start going back to the four governments, Turanchik says.
The switchover moment happened in late January. The January revenue check was $9,909.40. The February check was $44,693.27.
Momentum continued in March, with an accelerated pace of ticket sales. The ferry sold 2,000-plus tickets during the first week of March, for example, with as many weekday tickets sold as weekend tickets. “At this pace,” says Turanchik, “the ferry could have another monthly record.”
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