Our 2023 Strategic Leadership Visit took 45 business professionals to Tampa, Florida, a city celebrated for its access to talent, quality of life, sports, hospitality and tourism industries, and cultural diversity. Our delegation of leaders explored various facets of Tampa’s regional economy, including transportation, education, innovation, healthcare, and entrepreneurship. Here are a few of the takeaways from our visit.
Mayor Jane Castor welcomed our delegation with a deep dive into what makes Tampa Bay a welcoming and safe community. With over 80 colleges and universities in the area and its high quality of life, Tampa Bay easily attracts a young, skilled workforce. The area’s economic development strategy works to recruit and retain businesses in the IT, corporate headquarters, financial and professional services, life sciences and healthcare, logistics and distribution, manufacturing, and defense and security target industries. Mayor Castor also shared how the city thrives on partnerships and works as one big team.
Tampa is also celebrated for its innovation in law enforcement. In 2003, the city changed its approach to policing and public safety. This shift led to an 80 percent drop in crime.
Tampa’s top challenges are transportation, workforce development, and affordable housing. Our speakers noted that Tampa is a transient community. Throughout the city, there are several public transportation options – bus, rapid bus, vanpool, and the Teco Line Street Car that operates in the city’s urban center.
The Tampa Bay Chamber and other partners work together on several initiatives regarding workforce development, addressing skills gap, and leveraging apprenticeships. The Hillsborough County Public Schools Partnership has a new program aimed at preparing students for the medical and construction job sectors. Junior Achievement’s 3DE Schools Initiative offers training and access to in-demand careers to meet the demands of the future economy.
Tampa Bay is an established hub for Information Technology companies, growing 28 percent in the last five years. Local firms are advancing modern manufacturing technology, making Tampa Bay home to the second largest manufacturing employment in Florida. The Tampa Bay Chamber and its partners have placed a strategic focus on nurturing these industries: healthcare, warehouse logistics, retail, finance, and STEM.
The Make It Tampa Bay campaign is a collaborative effort between the Tampa Bay Economic Development Council, Hillsborough County, and Visit Tampa Bay to attract and retain workforce talent to the area. It has become a valuable recruitment and retention tool for local companies, colleges, and universities.
The city is open to getting creative when it comes to addressing the shortage of attainable housing. The mayor has pledged to add 10,000 affordable housing units to the city’s roster by 2027. One strategy to achieving this goal is buying land through a trust and then offering it to developers. The developer has to provide a portion of the development at an affordable price.
Various media outlets have recognized Tampa as one of the fastest-growing tech hubs for IT talent in the country. Over the past five years, the Tampa Bay region has seen a 30 percent job growth in the IT sector. The region is also experiencing growth in the fintech, cybersecurity, and health tech sectors. The tech industry growth in Tampa is expected to continue, with projections of adding over 3,700 jobs by 2027, for a total growth of 14 percent.
Economic development partners throughout the Tampa Bay region have worked collaboratively to create an entrepreneurial ecosystem. A standout partner for the Tampa start-up community is the University of South Florida. Tampa Bay is an investor friendly market for start-ups and there emerging technologies in AI, space, and biotech that hold a lot of promise.
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