February 21, 2024

2012 Florida Economic Yearbook

Tampa Bay Economic Indicators

Art Levy | 4/10/2012

Tampa is adding some healthcare muscle and will get a boost from the Republican National Convention in August, while St. Petersburg’s medical device industry shows strength.

Tampa Bay, Florida

Tampa/Hillsborough County

Dr. John Armstrong
Dr. John Armstrong, medical director of the Center for Advanced Medical Learning and Simulation, which opened last month, says the center is expected to draw up to 60,000 medical professionals a year. [Photo: USf/Bobby Bishop]

What's Hot

» Call centers: Tampa's call centers created thousands of jobs last year. Humana alone added 700 positions in 2011, and OneTouch Direct says it will add 700 over the next two years. Other major call center employers include Progressive Insurance, Time Warner, TruGreen and Matrix Medical Network.

» Healthcare: USF's newly opened Center for Advanced Medical Learning and Simulation will draw as many as 60,000 medical professionals a year to downtown Tampa. The $38-million facility, with 90,000 square feet, has high-tech simulators where doctors can practice surgical techniques without actually touching a patient. Meanwhile, Moffitt Cancer Center is looking to build a clinical and research facility on its Tampa campus. The hospital says the project has the potential to create 927 full-time jobs, including doctors, researchers and other health professionals.

What's Not

» Print media: Media General's Tampa Tribune cut 165 jobs last December, just one of a string of layoffs affecting newspapers across the state. The company reportedly is shopping its newspapers. The Tampa Bay Times, formerly the St. Petersburg Times, says it reduced staff by 6% last year but did not reveal the exact number of jobs cut. The Times also cut full-time workers' pay 5% and sold one of its employee parking lots. Halifax Media Group purchased the New York Times Regional Media Group newspaper chain, then cut 30 jobs at offices the chain operated in Tampa.

Businesses to Watch

» Newland Communities: Betting that the recession is nearing its end and that people will start buying homes again, Newland Communities is breaking ground on Waterset, an Apollo Beach-area development with 3,800 homes slated. The 2,350-acre master-planned community, on the drawing board since 2004, was put on hold in 2007 when the housing market tumbled.

» Red Hawk Interactive: The Tampa startup sells interactive services for online streaming services. Sean Davis, a former project manager at Valpak, leads the company, which got early help from the Gazelle Lab business incubator.

» PMSI: The workers' compensation management company is opening a pharmacy center in Tampa, where it will coordinate more than 2 million pharmacy claims a year. The company employs 650 in Tampa Bay.

» Telovations: The company's Speech Assist service makes it easier for people calling a company to connect with the person they're calling. Rather than dial an extension or type in the first few letters of a name, callers just need to speak the name or extension of the person they want to reach. Last year, Telovations purchased FeatureTel, a North Carolina communications company, and committed to keep its headquarters in Tampa.

People to Watch

» Andrew Wright: The 31-year-old Wright heads up Franklin Street Partners, one of the fastest-growing commercial real estate companies in the Southeast. Founded in Tampa six years ago, the company now has offices in Fort Lauderdale, Jacksonville and Atlanta.

» Santiago Corrada: Mayor Bob Buckhorn's new chief of staff is the city's go-to person for the Republican National Convention. Corrada's background includes overseeing the city's convention center.

» Joe Lopano: Since becoming CEO of Tampa International Airport a year ago, Lopano has fulfilled his promise to attract more international flights. His early success got him a $50,000 raise, which some members of the airport's governing board thought came too quickly. The raise brings his pay to $355,000 a year, still slightly less than what he made at his last job at the Dallas-Fort Worth International Airport.

Issues to Watch

» Republican National Convention: In August, the "eyes of the country and the eyes of the world" will be on Tampa, says Robert J. Rohrlack Jr., president and CEO of the Greater Tampa Chamber of Commerce. The convention is expected to bring more than 50,000 visitors, including up to 6,000 delegates and 15,000 members of the media. The host committee has reserved more than 15,000 hotel rooms. Restaurants and other venues on both sides of the bay are lining up to host parties and other events.

Hillsborough Population: 1,269,653
Population Growth Rate (2008-12): 1.49%
Population by Age:
0-14 15-19 20-39 40-64 65+
19.72% 6.84% 28.62% 32.66% 12.15%
Per Capita Income: $39,759

MSA Dec. 2011 Dec. 2010 % Change Jobless Rate
Lakeland/Winter Haven 240,809 241,300 -.2% 10.7%
Tampa/St. Pete/Clearwater 1,171,437 1,140,498 +2.7% 10.0%
Source: Agency for Workforce Innovation

Homes - Single-family, existing-home sales
MSA 2011 Sales 1-Year Change 2011 Price 1-Year Change
Lakeland/ ?
Winter Haven 3,562 +1% $93,400 -8%
Tampa/St. Pete/ ?
Clearwater 30,425 +6% $120,600 -9%
Source: Florida Realtors; year-end sales, median price

Hillsborough County Consumer Bankruptcies
2010 2011 Change
7,365 5,931 -19.5%
Source: National Bankruptcy Research Center

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