Expanding Your Business to Another City? Consider the Tampa Bay Area
If you’re thinking about expanding your business to another city, consider the benefits of doing so in the Tampa Bay area. Comprised of the three cities of Tampa, St. Petersburg, and Clearwater, the Tampa Bay area according to a March 24, 2022 article by The Tampa Bay Times, has seen an influx of growth: “More than 9,000 additional people moved into the area than out during the first two months of 2022, Redfin found, compared to about 6,000 during the same period a year ago.” This explosion of growth is just one of many reasons to consider expanding your business to the Tampa Bay area.
The Tampa Bay area’s economy is strong and boasts a diverse base that includes tourism, technology, finance, insurance, health care, construction, and maritime industry.
Location, Location, Location
In addition to its strong economy, it is centrally located on Florida’s west coast, making it a convenient place to operate a business.
More People = More Business
A large – and still growing – population provides a bigger potential customer base for businesses. It also means an increase in the labor force and a larger talent pool for employers.
A Place to Thrive
Doing business in Tampa Bay can be very profitable. There are many opportunities for businesses to thrive in this region and a wealth of resources and organizations that can guide you every step of the way. According to Tampa’s Economic Development Council’s (EDC) website, here are some great business facts about the city of Tampa you should know about:
- Tampa has 6th most minority business owners in the U.S. – Smartest Dollar, 2022
- #1 Emerging tech city – Forbes, 2021
- #2 Best State for Business – Chief Executive Magazine, 2021
- #3 fastest-growing metropolitan area for entrepreneurs – LinkedIn, 2021
- Tampa #10 best place to start a business – WalletHub, 2021
- #3 State for new small businesses – MotleyFool, 2021
- #4 State best business tax climate – Tax Foundation, 2021
Great International Airport
Tampa International Airport has consistently ranked as a superior airport. In 2021, the Airport Service Quality (ASQ) Awards ranked it as the #1 airport in North American Airports with 15-25 million passengers. If you travel on business, this is especially great news!
Other Business-Friendly Facts
If you’re still looking for more reasons to expand to the Tampa Bay area, here are a few more to consider:
- Favorable corporate tax policies
- No personal income tax
- Lower operating costs
- Light regulatory burdens
You’ll Be in Good Company
Finally, when you expand your business to the Tampa Bay area, you’ll join top companies such as:
- Raymond James
- Bloomin’ Brands
If you’re ready to start a conversation about expanding your business to Tampa, we’re ready to talk to you. HSW Associates has more than 30 years of experience in commercial and residential real estate and can guide you through the process of finding the most suitable locations or neighborhoods for your business. Why not contact us today and get the ball rolling.< Back to Blog