As an investor with over 20 years of experience and the CEO of Graystone Investment Group, I’ve seen many markets. Still, Tampa Bay stands out as a uniquely promising destination for investors. Recent insights from JLL’s comprehensive report solidify this perspective, showcasing Tampa as a thriving hub for growth, innovation, and investment opportunities.
Why Top Companies Choose Tampa Bay
Tampa Bay has attracted leading companies like Pfizer, Axogen, Suzuki Marine, OPSWAT, Signode, and Rapid7. Here’s why:
- Pfizer: According to Bill Carapezzi, “Tampa is an ideal location for our latest multi-functional hub, providing exceptional work experiences and centralized capabilities.”
- Axogen: Karen Zaderej notes that Tampa offers a perfect blend of an urban lifestyle and a conducive work environment, making it a magnet for talent.
- Suzuki Marine USA: Masahiro Yamamoto praises Tampa’s strategic location and business-friendly climate, which are pivotal for their operations.
These endorsements from industry leaders underscore Tampa’s attractiveness as a business hub. But why should investors pay particular attention?
Key Highlights for Investors
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Corporate Relocations and Expansions: Tampa Bay is regularly identified as one of the top U.S. markets for new corporate relocations and expansions due to its educated labor force, high quality of life, and economic strength. Notable companies such as Amgen, Baker McKenzie, Morgan Stanley, and WeWork have set up shop here.
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STEM Employment Growth: Tampa Bay has seen a 17% growth in STEM job opportunities over the past five years, with an average STEM employee salary of $94K. This surge is driven by the expanding tech sector, positioning Tampa as a hub for innovative industries and technological advancement.
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Job Growth: The region boasts a 102% growth in transportation and warehousing jobs over the past decade, with significant increases in professional services, finance, insurance, and utilities. This diverse job market enhances Tampa’s economic stability and growth prospects.
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Tech Hub – The Silicon Coast: Tampa Bay has captured $369 million in VC funding in 2023, with over 5,793 IT-related degrees awarded. The region is home to a quarter of Florida’s total tech jobs, earning it the nickname “Florida’s Silicon Coast.”
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Life Sciences Oasis: With 3,200 life science and healthcare establishments and 7,000+ medical tech jobs in Pinellas County, Tampa Bay is a leader in bioscience innovation. The region’s infrastructure supports start-ups and established firms alike.
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Strategic Defense and Homeland Security: Proximity to MacDill Air Force Base and a large veteran workforce make Tampa a key player in defense and security sectors. Major companies like Lockheed Martin and General Dynamics have a strong presence here.
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Financial and Professional Services: The financial services sector in Tampa has grown by 47% from 2014 to 2023. Leading companies like Baker McKenzie, Citi, JP Morgan Chase, and MetLife benefit from Tampa’s robust and well-educated labor force.
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Office and Industrial Development: Despite economic headwinds, Tampa maintains healthy leasing activity and continues to see significant office and industrial development. Notable projects include The Heights Union, SkyCenter One, and Water Street Tampa.
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Transportation and Port Facilities: Tampa International Airport and the Port of Tampa are critical infrastructure assets, enhancing the region’s connectivity and logistical capabilities. The airport’s expansion and the port’s capacity to handle diverse cargo types make Tampa a logistical powerhouse.
The Bottom Line for Investors
Tampa Bay offers a unique blend of economic growth, job opportunities, and strategic business advantages. The city’s thriving sectors—from technology and life sciences to defense and finance—create a robust investment landscape. The influx of top companies and the continuous development of infrastructure further cement Tampa’s position as a prime destination for investors.
For a deeper dive into the data and insights that make Tampa Bay the ultimate investment hotspot, I encourage you to explore the full JLL report here.
Invest in Tampa Bay today and be part of a thriving, dynamic future.
Written by Jorge Vazquez