With its dynamic and positive business climate, Tampa/Hillsborough County is one of the leading business locations in the world. As the economic hub of HillsboroughCounty and the TampaBay region, Tampa enjoys ongoing and remarkable job growth, affordable business and living costs, an able and abundant workforce, excellent educational opportunities, and unmatched weather and amenities.
Service, retail, finance, insurance, and real estate sectors lead regional industry. Bioscience and other high-tech industries are expanding, thanks in part to research at university and college campuses throughout the area. Manufacturing is also experiencing increased growth as the regional economy continues to diversify.
According to the Florida Governor’s office, Florida leads the United States in job creation, with Tampa/Hillsborough County at the forefront. Hillsborough County has about 740,000 employed people, and planners report that number will increase to 922,000 by 2015.
Yet costs stay low: Tampa Bay’s Metropolitan Statistical Area (MSA) comprised of Hillsborough, Pinellas, Pasco and Hernando counties, ranks 3rd among all U.S. metro areas for low business costs, according to a KPMG 2004 study. Tampa/Hillsborough County’s median home price increased by approximately 17 percent in 2004, yet is still around $170,000 – far below that of most MSAs. Among more than 300 U.S. urban areas, the regional cost of living remains about 6 percent lower than the average.
Florida’s tax environment is designed for growth. Florida has no personal income tax and ranks No. 2 among states in a Tax Foundation study of business-friendly tax climates. Local taxes and fees remain low- Tampa’s property tax millage rate has been 6.539 mills since 1989.
One out of every two Americans owns a car. For the approximately 1.8 million households in the United States, there are 1.9 million automobiles; a mere 8 percent of households do not own cars. The United States is the largest market of automobile consumers in the world................
