Economic Overview
Tampa/Hillsborough County is a great place to do business. We have a diverse economy which, during the last economic downturn, served us well. The downturn was late hitting our area and we started to climb out of it sooner than most communities.
The job growth that we have experienced has helped us maintain a high quality of life in our community, because the growth has not been just in the number of jobs, but we've also seen the average wage get higher, creating more disposable income that can be spent at your businesses.
We often hear about how bad the economy is and don't hear the good things. Some of the many good things about our business climate are:
- Our cost-of-living remains 4-5% below the national average while San Francisco and New York remain 70-80% above the national average.
- According to the 2000 Census, there are more than 65,000 people between the ages of 20 and 34 living in the Tampa area.
- Cost of doing business here is less than in most markets which means more money in your pocket at the end of the day
- Taxes are very favorable to businesses
- This is a great place to live which translates into people either moving or staying here which gives you a great pool of talent to pull from
- Tops in Least Expensive Large U.S. Cities for Business
- KPMG study, Tampa was 3rd, Significant factor was our competitive labor costs. What does this mean to you as business owners or marketers? We have a growing population which means more customers for your business
- In 2005, the Tampa Bay Region had a labor force of nearly 1.93 million, or about 22% of the state’s labor force.
- In 2005, the Tampa Bay Region’s unemployment rate of 3.7% was lower than the state and national averages.
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Local Weather Forecast
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- Outlook tomorrow:
- Isolated T-Storms / Wind
- High 73° F – Low 52° F
- Weather.com