2024 E-Insights Report
Infrastructure Accessibility and Entrepreneurship
The economic strength and competitiveness of a region are profoundly influenced by the quality and accessibility of its infrastructure. Effective infrastructure also underpins a region’s ability to attract new businesses, support population growth, and enhance the quality of life for its residents.
In examining the Tampa Bay region, researchers have compared its infrastructure accessibility with that of other Metropolitan Statistical Areas (MSAs). They have analyzed a variety of indicators, such as the percentage of workers with commutes over 30 minutes, and passenger miles per capita.
This section also explores the landscape of entrepreneurship by analyzing indicators such as entrepreneurship job indicators, and the business activity Google search trends.
Key Insights
- Tampa Bay has experienced a significant rise in commute durations in recent years. The region is ranked in the bottom half with a comparatively higher percentage of workers having commutes lasting longer than 30 minutes.
- Tampa Bay ranks second in both new job creation at firms under a year old per 1,000 people and the proportion of private sector jobs at firms less than a year old.
- Tampa’s low ranking for the relative earnings of private sector jobs at new firms in their first year, compared to the national average earnings at firms of all ages, indicates a disparity in wage levels in its early stage business. The reasons for high growth of new businesses, along with low wages, highlights the need for policy initiatives to attract high tech businesses to our region.