Reasons Why Small Businesses Are Moving To Tampa

Reasons Why Small Businesses Are Moving To TampaSince the year 2010 more than 400 small businesses have decided to move to Tampa, Florida. This has resulted in the creation of more than 30,000 jobs since and has brought in more than $2 billion in capital investment. Large businesses are also moving to Tampa such as Amazon, DTCC, Bristol Myers Squibb, Coca-Cola, Progressive, Wellcare, Franklin Templeton, Raymond James, New York Life, MetLife, JP Morgan Chase, and USAA. Several businesses are undergoing major relocations and performing renewal transactions throughout Greater Tampa Bay. More and more small businesses are finding out that Tampa offers a great combination of urban growth, skilled labor, low cost of living, and an exceptional quality of life. All these factors are essential for an employee to succeed in a highly competitive global economy.

1. Urban living conditions: There has been major investment in the second-tier cities across the U.S. which is bringing in many millennials to Tampa in search of work, lifestyle, and play. The Tampa population has skyrocketed in recent years as these people are streaming in the city. Various developers in the city are ready to meet the rising demand for accommodation and multi-use projects. Plans are being developed for mid-rise to high-rise residential complexes in the downtown that may even double the number of housing units available in the city. The development of residential areas also means raised commercial activity so these projects can add up to large blocks of quality office space. All these things lead to a great opportunity for small businesses as well as the Fortune 1000 companies who can use the brand new infrastructure and qualified talent pool to improve the quality of life.

2. Educated and qualified workforce: There is a massive labor force available in the Tampa Bay area in the excess of 3 million people which is sufficient to satisfy all the requirements of an employer. Tampa has more than 80 colleges, technical schools, and universities that produced more than 35,000 graduates in 2014 alone. It is easily possible to recruit talent from the big population with more than 20% bilingual people. This workforce is young and educated with more than 30% of the people carrying a bachelor’s degree. There is a huge talent pool available in the high-paying tech sector. Tampa is the top city in the list of Florida cities’ talent list. The talent pool in the region is growing at a faster rate than the national growth rate.

3. Affordability: Several small businesses are moving to Tampa due to the low labor costs and they do not have to pay personal state income tax. It is in stark contrast to the 9% tax in primary centers such as New York City. The corporate income tax in Florida is also competitive with several other metros and this makes Tampa one of the most affordable housing markets in the region. Tampa also offers economy in other areas as well such as office rents are lower and there are location-sensitive costing and taxes charged. The office rents in Tampa are less than half of those in Manhattan. The office space costing is comparable with other metropolitans such as Austin and Atlanta.

4. Tampa Bay lifestyle: What the place offers and other cities don’t is the Tampa Bay lifestyle. Apart from being engulfed by water, it is extremely close to some of the better beaches in the U.S. and you will find good weather throughout the year. Tampa has theme parks for families, world-class museums, great shopping areas, college and professional sports, and landmarks. Tampa is ranked as one of the best cities in America by the Money magazine.

Tampa is a terrific place to live. Along with the small businesses the large companies are also joining the growing list of global and local businesses that are moving to Tampa due to the place being an exceptional one for doing business. When you are looking to build a small business in Tampa you will likely need SEO strategies. In case you are not sure about the execution of the SEO for your business after moving to Tampa or if you are too busy with other aspects of the business, consider contacting professionals such as the Affordable SEO Tampa Company who can assist you in making the right decisions.

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