Invest: Tampa Bay

Page 18

Lynda Remund President & CEO Tampa Downtown Partnership

Why is it important to have a strong downtown? If you go to any city in the United States or around the world, you will see that a strong downtown is their center core and is really the face of that region. I believe it is very important that we have that strong city center. Downtown Tampa is growing by leaps and bounds and we are excited about that. A quick look around Tampa reveals that the Downtown area is not only growing but so are the outskirts and the suburbs. This is apparent when looking at areas like Midtown and projects like those happening in Westshore. We are proud that Downtown is such a strong center for our city, but happy to see that the region is developing as well. What challenges does Tampa face? One of our biggest challenges in this region is obviously transportation, so having a commuter system in place will help to mitigate this issue. We often hear from big companies that are looking to move here or even conventions hoping to come here that they are looking for a place where people are able to move around easily. We are starting to provide more of these options, but we have so much more work to do to become a more viable option for people. What are your top priorities for Downtown? One of our top priorities is reinvesting into the Downtown area. We are looking at getting involved in some small-scale capital improvement projects. We will be reinvesting in a couple of small projects that will help pedestrian safety in regards to signage, lighting and aesthetics for the Downtown. Downtown is probably the safest place in the whole city and we are working to make it even safer. We are also bringing the International Downtown Association Conference here in October 2020. That is an audience of about 1,000 people from around the world, consisting of planners, elected officials, architects and business leaders. All of these experts will be here to share best practices and we are excited to receive them. 16 | Invest: Tampa Bay 2020 | ECONOMY

China spread across the globe, bringing economies to a standstill as social distancing and home office for nonessential workers became the norm. While most pundits agree a long-term bounceback, as the national economy slows, it is likely that the economies of areas around the country like Tampa Bay that rely in part on trade through their ports will lag as well. Port Tampa Bay, the largest port in Florida, handles over 37 million tons of cargo annually. Another global event that is sure to impact Florida’s economy is Brexit. The United Kingdom’s withdrawal from the European Union came into effect on Jan. 31, 2020, a development that saw a drop in the value of the pound, and local purchasing power as a result. This may have a real impact on the economy of Florida and Tampa Bay, given that approximately 1.7 million UK tourists visited the state every year leading up to Brexit, making Britain the second-highest source of foreign visitors annually, beaten out only by Canada. Travelers from the UK account for a considerable amount of tax yield for the state during their visits, which could be in jeopardy as a weaker pound makes it more expensive for UK residents to travel, and therefore reduces tourism to Florida. Outside of tourism, trade with the UK could also be impacted by Brexit, as a weaker pound could discourage imports from Florida due to the increased expense, thereby reducing the volume of Florida’s export business with the island nation. The retracting global economy is also impacting Asia and Latin America, regions with which Tampa Bay does a healthy amount of trade. China continues to show signs of a contracting economy. In fact, the growth of China’s economy in Q2 2019 fell to its lowest level in 27 years, thanks to the country’s ongoing trade war with the United States. The developing coronavirus crisis also poses a threat to international trade, as the world governments take drastic measures to impede the spread of the deadly virus, including telling businesses to cease operations and for workers to remain at home in some of the most heavily impacted areas. As for Latin America, Mexico and Costa Rica are also experiencing economic downturns, Argentina will likely experience yet another year of poor economic performance, as well. Venezuela, meanwhile, continues to reel from political turmoil. International business With the help of bodies such as the Tampa Bay Economic Development Council (EDC), the Tampa Bay International Business Council (TBIBC), Global ( )


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Articles inside

Interview: Brian Kornfeld

6min
pages 153-155

Interview: Roger Germann

7min
pages 150-152

Roundtable: Tampa Bay Sports

7min
pages 156-160

Market voices: Destinations

4min
pages 148-149

Interview: Tim Jarrett, General

5min
pages 146-147

Interview: Santiago Corrada

2min
page 145

Where to? Tourism in Tampa

2min
page 144

Interview: Robert Bishop, Dean

7min
pages 140-143

Interview: Steven Currall

10min
pages 135-138

Rise up: Tampa Bay’s

2min
page 134

Interview: Randy Avent

3min
page 139

Roundtable: Care concerns

12min
pages 128-133

Interview: Phillip Dingle

6min
pages 126-127

Interview: John Couris, CEO

6min
pages 121-123

Interview: Mike Schultz

4min
pages 124-125

Hub attraction: Tampa Bay has

2min
page 120

Interview: David Call, Florida

3min
pages 117-119

Market voices: Good advice

2min
page 116

Roundtable: Key attractions

15min
pages 110-115

Interview: Tim Schar, Tampa

5min
pages 107-108

Interview: Rita Lowman

2min
page 109

Interview: Jorge Gonzalez

7min
pages 102-105

Interview: Jim Daly, Regional

2min
page 106

Interview: Gregory Kadet

7min
pages 99-101

Bankable: A tax-friendly

1min
page 98

Interview: Beth Alden

2min
page 94

Interview: David Green

7min
pages 95-97

Interview: Paul Anderson, CEO

2min
page 93

Interview: Joe Waggoner, CEO

9min
pages 90-92

Hard at work: The region is

2min
page 88

Interview: David Gwynn

2min
page 89

Interview: Catherine Stempien

6min
pages 84-87

Interview: Nancy Tower

2min
page 82

Interview: Gary Godsey

4min
pages 71-73

Interview: Todd Fultz, Managing

11min
pages 76-79

Interview: T.J. Szelistowski

2min
page 83

Demanding times: Tampa Bay

2min
page 81

Strong fundamentals: As cranes

5min
pages 74-75

Interview: Mark Metheny

3min
page 70

Market voices: Growth factors

1min
page 80

Roundtable: Commercial Real Estate

5min
pages 68-69

Interview: Alan Higbee

5min
pages 55-56

Interview: Nicholas Haines

7min
pages 65-67

Building value: The temperature

2min
page 60

Interview: Leroy Moore, COO

5min
pages 61-62

Market voices: Transformation

5min
pages 63-64

Market voices: Advantages

4min
pages 57-59

Interview: Bill Schifino, Tampa

3min
page 54

Interview: Douglas Wright

5min
pages 51-52

Interview: Hala Sandridge

3min
page 53

Evolution: The legal landscape

2min
page 50

Flourishing: The city of

1min
page 36

Market voices: Developing Clearwater

11min
pages 40-44

Interview: Scott Perry, CEO

9min
pages 45-49

Interview: Frank Hibbard

6min
pages 37-39

Roundtable: Female leaders in the Bay

5min
pages 32-35

Interview: Sandra Murman

2min
page 13

Market voices: St. Petersburg

1min
page 26

Interview: Kenneth Welch

13min
pages 27-31

Interview: John Flanagan, CEO

2min
page 25

Powerhouse: Looming concerns

1min
page 12

Interview: Lynda Remund

3min
pages 18-19

Roundtable: What is needed to sustain growth?

12min
pages 20-24

Interview: Craig Richard

9min
pages 14-17
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