State of the Region

Introduction

Since 2017, the University of South Florida has worked with the Tampa Bay Partnership on this important research. This collaboration provides a powerful example of our commitment to leveraging analytics and critical thinking to generate impactful, innovative solutions for our community. Together, we can transform our region’s future by identifying
economic challenges and partnering with civic leaders like you to elevate opportunities for Tampa Bay. Graduate students worked alongside our faculty on this inquiry, gathering and analyzing data to prepare this report, experiencing the unique opportunity to generate insights that will create a brighter future for our community.

To improve our economic health, we must know where we stand relative to similar and aspirant communities. However, we should not stop there. We want to apply science to support the decisions of community leaders to make Tampa Bay an attractive destination for both businesses and those who live and work here. Understanding that what gets measured is what gets managed, we can then use the data to follow our progress and make relevant recommendations for maximum impact.

Real-Time Signals, Real-Time Findings

This research stands out for deriving insights from not only traditional sources, but also real-time data across several dimensions from sources that include Google Trends, Indeed, Zillow and Adzuna to gain a holistic perspective. This approach assesses the economic health of the Tampa Bay region as it relates to affordable housing, education, health care, job postings and salaries. The historical trend analysis enables us to identify policy initiatives that could boost economic growth of the Tampa Bay region.

The analysis reveals how the economic health of the Tampa Bay region has advanced, along with areas of opportunity. Progress has been made to increase household income and reduce poverty and unemployment across the community, however these indicators have struggled to keep pace with rising living costs when compared with other regions. There are bright spots as well, including low higher education tuition rates and strong health care sector employment.

Our research team has conducted policy experiments to identify areas of focus that can help our region to continue to thrive, which will be posted online at usf.to/state-of-the-region. We hope the insights in this report will provide policymakers and business leaders with the knowledge to overcome these growing pains as the world discovers the allure of living and working in Tampa Bay.

Our Sponsors