2021 E-Insights Report

Final Key Takeaways

  1. The Tampa Bay MSA has the lowest GRP per capita among the comparison MSAs.
  2. Income inequality in the Tampa Bay MSA has been declining for the last few years.
  3. Investments in transit infrastructure, higher education and labor force participation are key to economic growth.
  4. The Tampa Bay MSA was relatively less impacted by COVID-19 pandemic when compared to
    the Miami and Orlando MSAs.
  5. The regional economy in the Tampa Bay MSA is recovering after suffering a dip in the month of April.
  6. Local commerce and travel in the Tampa Bay MSA have been less affected than in most other MSAs.
  7. Consumer spending levels in the Tampa Bay region recovered to the 100 percent of the
    January value by mid-October.
  8. The Tampa Bay MSA stands in the lowest quantile in terms of number of job openings per
    million individuals.
  9. The region’s finance, information technology and retail industries, which are top three biggest contributors to employment in service sector in the Tampa Bay MSA, are showing an
    increasing trend of job openings after suffering a dip in April.

Next Steps

  • USF researchers plan to continue expanding the kinds of real-time big data signals for this
    type of study. For example, scholars are exploring real-time sources on traffic patterns and
    retail purchase behavior across MSAs.
  • Most of the real-time big data signals obtained were through APIs and scraping. USF faculty
    and student researchers will explore the possibility of building direct and deeper partnerships with the source companies. They encourage the community to reach out should there be opportunities to connect with local or regional providers of such real-time big data signals.
  • USF researchers will consider deeper study of whether any of the big-data signal can serve as reliable proxy of traditional economic indicators. This can be valuable because the proxy can be used to assess the economic health of the region on a real-time basis and can help in faster policy decision making.
  • USF Muma College of Business faculty are building an index of real-time big data signals which can gauge economic prosperity in real time. Such an index would be a single number that can provide a composite measure of economic health of a region.
  • Faculty and student researchers look forward to directly partnering with the business
    community to help potentially leverage real-time big data signals for long-term growth.