Market voices: Economic

Bill Cronin

President & CEO Pasco EDC

Workforce development and ensuring we have the talent pipeline ready for the future is going to be one of the most important things that we focus on going forward. Our metrics, not just for our organization but as an industry for economic development, are possibly going to change. There’s going to be more emphasis on social and economic mobility. Inclusion is going to remain front and center. We are also increasing the size of the pie by attracting overseas companies to come work here. We have a robust foreign direct investment program that involves a lot of proactiveness on our part.

Based on everything we’ve seen during the pandemic, the area is going to continue to attract businesses. We intend to capitalize on this interest with the launch of a very aggressive digital marketing campaign focused on all the positive aspects of doing business in the Bradenton area. So, I’m optimistic. I think that we are well-positioned as a community to address that pent-up demand by supplying the best opportunities to businesses that want a Florida location. Sharon Hillstrom

President & CEO Bradenton Area EDC

Mike Meidel

Director Pinellas County Economic Development

The vast majority of the firms we work with are privately held companies with those owners in their 50s. They want to come down here and bring their company with them or at least open a new branch. Either way, we benefit. We get quality jobs for our citizens. We are also excited about our $7.5 million grant from the Economic Development Administration to build a new 45,000-squarefoot incubator in South St. Pete. It’s designed to serve the entire Tampa Bay area and will be for a mix of tech companies as well as those in life and marine sciences.

The Seventh Avenue Archway Lights Project will be a huge priority. This is about enhancing the one-of-a-kind atmosphere that makes Ybor City unique. The other major priority will be supporting businesses in the district and getting the word out that we still have a thriving business district. Also, we need to promote new businesses. We don’t have many national franchises in the district since we want Ybor to remain unique, which is why we promote and prioritize one-of-a-kind boutique-style destinations. We very much are a small business community and we want to keep it that way. This is a big factor in why people want to come and support the district. Ybor City regularly draws a lot of visitors so we must continue to make it distinctive and create the magical experience it offers. The city’s Historical Preservation division does an amazing job upholding the authenticity of the area. Courtney Orr

Ybor City Development Manager Ybor Community Redevelopment Areas/ Ybor City Development Corporation

( ) But improvements are still needed in the region’s infrastructure. In April, the Tampa Bay Partnership used a $250,000 grant from JP Morgan Chase to commence a year-long study to evaluate the existing infrastructure and highlight critical improvement needs. In a 2017 study, the Tampa Bay Regional Planning Council projected a $162 billion impact on the area’s Gross Domestic Product (GDP) without action to combat sea level rise. The authorities hope to engage the private sector to collaborate in these needed infrastructure investments. The St. Petersburg Downtown Partnership is also welcoming the private sector into the redevelopment of the Tropicana Stadium to ensure the Tampa Bay Rays remain in the area.

For the fiscal year 2021, many of the city and county governments’ budget priorities center around public safety, particularly in light of COVID-19, and affordable housing and resilience. In the City of Tampa, the Life Up Local program is being prioritized, which encourages community-centric activities, increasing affordable housing and enhancing workforce development. St. Petersburg’s goals for 2021 center around affordable housing, sustainability and resilience, public safety, public works and outreach. In Clearwater, the bulk of 2021 funds are allocated to parks and recreation, police, fire and library services. Pasco County’s $1.4 billion 2021 budget is allocated primarily to public safety, physical environment, transportation and economic environment. Of Pinellas County’s $2.7 billion 2021 budget, $729 million will be used for the physical environment and $783 million will be allocated to public safety. Finally, Hillsborough County intends to spend $707 million of its $1.6 billion budget on public safety, $81 million on the economic environment and $71 million on human services.

Collaboration between the public and private sectors is integral to the well-being and further development of Tampa Bay’s infrastructure and related projects.