A revived downtown Tampa coupled with a campaign to draw young talent here from across the nation is making Tampa a pretty hot market right now. The Tampa Bay area constantly ranks as one of the top cities for people to move to. So we talked with Craig Richard, president and CEO of the Tampa Bay Economic Development Council, to find out more about how Tampa is preparing to become the newest tech city.
Tampa Bay top in the rankings
In the EDC’s March newsletter, Richard ticked off what he called a list of “fantastic rankings,” including:
- A new report from Dice that says Tampa tech salaries are rising faster than those in Silicon Valley.
- ATIME Magazine named Tampa one of the Greatest Places of 2023
- Forbes named the Tampa Bay area as the best place to live in Florida
“It’s no secret that Tampa Bay is booming with new residents,” he said. “Among those movers are highly coveted Millennials—especially well-educated, dual-income couples who are now getting past the student loan debt and effects of the Great Recession that resulted in many putting off marriage, home buying, and having kids.”
He mentioned an article in SmartAsset that said Tampa is one of the top destinations for Millennials.
“Tampa Bay held the No. 4 spot in overall population gain in the country, according to LinkedIn’s Workforce Report for March,” Richard said. Many are moving here from New York, Georgia, Virginia, Texas, and New Jersey.
Preparing for more people
So, how is this area preparing for its great popularity?
“While housing is outside of our expertise, we are keenly aware of the challenges our community faces in securing more affordable and attainable housing,” he said in a follow-up interview. “We are supportive of the City of Tampa and Hillsborough County’s efforts to build more affordable housing.”
Related: Top 5 Reasons You Should Start Your Small Business in Tampa
Richard said the EDC is working with its Placemaking initiative and local government partners on a strategy to generate greater economic prosperity for this area. Tampa EDC Talent Relocation if focusing on job creation, skills training, and capital investment in the area’s economically distressed areas.
So, why Tampa Bay?
Jeff Vinik’s Waterstreet project and the resulting revival of downtown Tampa have had an enormous impact, Richard said.
“The revival of our downtown, particularly with amenities like the Tampa Riverwalk, parks activated along the waterfront, world-class arts and culture, and the addition of new developments like The Heights and Water Street Tampa, has drawn people to our urban core like never before,” he said.
“Jeff Vinik and (his team) had the vision to build a district that is attractive for both companies and talent. Water Street is turning into a tech hub within a tech hub as several established tech companies have set up shop there,” Richard continued. “Plus, it’s home to Embarc Collective and co-working spaces like Industrious.”
The key to Tampa’s success, though, is the talent it is growing right here, Richard said. “High-quality talent is number one. We have the talent here that tech companies need. Our universities are producing outstanding graduates and talent is migrating here in droves.”
This area also has a strong ecosystem to support tech companies, he said. Organizations such as Tampa Bay Tech, Tampa Bay Wave, Embarc Collective and Synapse.
The EDC also backs Visit Tampa Bay. This area’s tourism development arm, which also has campaigns targeting millennials and other young professionals. They’re launching key initiatives in New York, Boston, Chicago and Washington, D.C.
“We started proactively marketing to millennials six years ago through our Make It Tampa Bay talent attraction campaign,” Richard said.
“The Make it Tampa Bay collaboration has become a national model for partnerships between tourism and economic development organizations,” said Santiago Corrada. He’s President and CEO of Visit Tampa Bay.
“Tampa Bay ranks among the top places Americans want to move to now. And this new campaign underscores the reasons why this is the best place to live, work and build a business,” Corrada said in a recent press release. “With the area offering a thriving downtown, endless activities, incredible culinary scene and world-class attractions, you can find the career opportunities you are looking for while feeling like you are on vacation year-round.”