To find out how the EDC can match investors and businesses in a federally Qualified Opportunity Zone, please contact:
Tony T. Brown
Vice President,
Community Development
(813) 518-2632
tbrown@tampabayedc.com
INVEST IN TAMPA
There’s never been a better time to invest in the Tampa Bay market. Hillsborough County is the second fastest growing county in Florida, according to 2022 U.S. Census data, and its county seat, the City of Tampa, was named one of TIME Magazine’s “World’s Greatest Places” in 2023. The Tampa Bay region is one of the top destinations Americans have been moving to post-COVID, and the tremendous influx of new talent is fueling the growth of all of our major target industries.
The Tampa Bay EDC is committed to recruiting companies and driving projects and initiatives that advance our region’s competitiveness for business and talent. Our mission is to advance a diversified local economy that is beneficial to all who live here – and that includes generating investment in our historically underserved neighborhoods.
In this section, we offer an overview of the many ways you can invest in Tampa or seek access to capital to grow your business here.
The Opportunity Zones Program is a federal initiative that uses market-based, tax policy approaches to spur investment in low-income communities. The 2017 Tax Cuts and Jobs Act enabled legislation for this federal economic and community development program. It provides a vehicle for investors to invest in “opportunity funds” which will then invest their resources into Opportunity Zones. The City of Tampa has four designated Opportunity Zones: East Tampa, West Tampa, Drew Park/Airport and the Urban Core.
The New Markets Tax Credit was designed to increase the flow of private sector capital to businesses, nonprofits, community facilities, and other important projects in America’s poorest communities. Rather than providing a direct federal grant to projects, the program marshals the private sector resources by providing an incentive for taxpayers to invest in community development organizations with a proven track record of impact in low income communities.
Tampa’s Community Redevelopment Areas or districts include Central Park, Channel District, Downtown, Drew Park, East Tampa, Tampa Heights Riverfront, West Tampa, and Ybor City. Members of Tampa City Council serve as the Community Redevelopment Agency board and work closely with City staff to manage projects, programs, and redevelopment funding.
A competitive site is a location in Hillsborough County that has been identified as having specific real estate attributes that make it attractive to sizable industrial or office development. These attributes include size, zoning, land use, development entitlements, development complexity, and supporting infrastructure. Hillsborough County's Competitive Sites program is an initiative that not only identifies these potential sites but also crafts policies that encourage industry, investment and development of these locations.
City of Tampa Community Redevelopment Areas (CRAs)
For information about the City of Tampa’s Community Redevelopment Areas and its CRA Programs, please visit https://www.tampa.gov/CRAs.
Need to find out if your project or business is located in a City of Tampa CRA? This useful map and Census tract tool will help.
Federal Opportunity Zones Programs
Use this search tool to discover if your project or business is located in an Opportunity Zone.
Need more information?
Contact Tony T. Brown, Vice President of Community Development, at tbrown@tampabayedc.com, (813) 518-2632 or fill out the form below:
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