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Our Business

Massport Year in Review

Collage of images form 2023 with copy saying "Massport 2023 Highlights"

 

Safety and Security

Massport prioritizes safety and security by working in tandem with our tenants, and local, state and federal security and emergency response partners to safeguard our vital infrastructure, while protecting customers, employees and all who use our facilities. In 2023, Massport coordinated and participated in trainings and exercises to ensure the highest quality public safety, facility security, emergency preparedness, airport rescue and firefighting, and business continuity. 

Aviation

Boston Logan International Airport

As Boston Logan International Airport celebrated its 100th anniversary in 2023, Massport completed several major construction projects underlining its commitment to support the region’s economy. From a modernized Terminal E to the completion of new roadways, we are building a more sustainable and efficient airport to better serve our passengers.

Worcester Regional Airport

Worcester Regional Airport had a strong rebound in 2023, reaching a new milestone of 204,400 passengers. With larger aircraft and a new flight destination, passengers chose Worcester Regional Airport in record numbers under Massport ownership.

Hanscom Field

Hanscom Field, the region’s premier full-service general aviation airport, continued to serve as a critical transportation hub for businesses, pilot training, emergency flight services, and private and charter aviation users. 

Maritime

Conley Terminal

Conley Terminal is a vital asset for New England businesses that ship and receive commodities such as furniture, recycled fibers, seafood, home decor, wine and spirits, auto parts, apparel and footwear. Despite a challenging year for maritime shipping, Conley Terminal saw an increase in container activity as it continued to benefit from infrastructure improvements that modernized the terminal, added capacity for larger container ships, and resulted in access to new global ports. 

Flynn Cruiseport

Flynn Cruiseport Boston had a busy 2023 cruise season, the first cruise season with ships sailing at full passenger capacity since the pandemic. The Cruiseport welcomed 58 homeports and 91 ports-of-call, hosted five homeport ships with sailings to Bermuda and Canada/New England, and had 16 days with three ships in port.

Real Estate and Asset Management

Massport’s diverse portfolio of commercial and maritime/industrial real estate assets in Charlestown, East Boston, and South Boston contribute to the Commonwealth's economy by creating jobs, supporting business growth, and generating new tax revenues. The skyline in the South Boston Waterfront continued to evolve in 2023, as multiple projects on Massport-owned parcels advanced through construction or were completed.

Sustainability

Massport continued to pave the way towards attaining Net Zero emissions by increasing the energy efficiency of our buildings, identifying more sites for renewable energy, investing in more electric and hybrid vehicles and equipment, and providing more transit options for travel to/from Logan Airport. We also worked collaboratively with our business partners to support their greenhouse gas emissions reduction efforts.  

Diversity, Equity and Inclusion

Massport continued on its mission to extend economic opportunities more broadly throughout the Commonwealth by hosting events and fostering connections to increase the pool of diverse vendors for Massport contracting opportunities. Internally, our employee-led employee resource groups (ERGs) hosted a number of events to celebrate our diversity and foster an inclusive workplace, while we worked  proactively to build diverse talent pools. 

Community

Massport strives to balance our mission to create economic growth for the Commonwealth, while also being a good neighbor to the communities that surround our facilities. In 2023, the Authority continued its collaboration with neighboring communities through charitable contributions, scholarships and summer jobs programs. 

Finance

Massport continued to ensure financial sustainability and exercise fiscal discipline to invest in the highest levels of safety, security, and customer service; make strategic investments to continue generating economic benefits for the Commonwealth; be a good neighbor to our communities; and make the investments needed to attain Net Zero emissions. S&P Global Ratings and Fitch Ratings both raised their ratings for Massport’s Rental Car Center bonds, citing improving passenger activity and rental car transactions. S&P upgraded its rating to “A” and Fitch upgraded its rating to “A+”.  

FY2023 Annual Comprehensive Financial Report

In FY2023, as activity improved across all business lines, Massport exceeded revenue and margin targets even as services were restored to keep pace with growing post-pandemic demand. The fiscal initiatives pursued during the pandemic proved successful by minimizing long-term impacts and positioning Massport to continue delivering on its mission.

Cover of Comprehensive Financial Report Booklet