In Depth: Tampa’s cost of living remains lower than the national average
July 8, 2019
Tampa Hillsborough EDC President and CEO Craig Richard recently appeared on Spectrum Bay News 9’s In Depth segment to talk about the latest Cost of Living Index report and how Tampa fared. He explained that Tampa continues to register about 10 percent lower than the national average, driven by our affordable housing options, which is attracting not just new residents, but also new companies to the area.
Richard was joined by Jamie Lawless, executive director of global law firm Baker McKenzie’s Tampa Center. As a new resident, and new company to the Tampa Bay area, Lawless explained how Tampa’s low cost of living, among other factors like access to diverse and skilled talent, high quality of life, and a welcoming community are attracting more companies to the area.
Lawless went on to explain how choosing Tampa has been an incredible decision for Baker McKenzie. They’ve already hired 100 new employees in the nine months since opening the office, and they plan to have 200 on board by the end of the calendar year.
A benefit to new companies deciding to operate in Tampa means more than just new jobs to the area. It means greater involvement and support in the community on several levels. Lawless shared that Baker McKenzie’s employees have been active with organizations like the Humane Society, Dress for Success, Children’s Cancer Society, Alzheimer’s Association and St. Pete Pride Parade.
Richard wrapped up the segment by reiterating that this is the time to be in Tampa. We have great economic momentum, fantastic opportunities for young professionals and entrepreneurs, and exciting companies coming into the area hiring employees that will continue to fuel our existing momentum.