New study reveals Tampa MSA’s competitive advantages

April 28, 2022

Earlier this year, the Tampa Bay EDC commissioned Hickey Global to produce a Competitiveness Study that examines the Tampa MSA’s performance as an overall business destination and target industry leader. The study looked at how Tampa stacks up two ways: against all MSAs across the USA with population of 450,000 or larger, and against specific MSAs that we typically compete against for projects in our target industries.

Hickey Global used criteria that site selection consultants prioritize when they are evaluating a community for a relocation or expansion project. These criteria differ from the Tampa Bay Partnership’s Competitiveness Report, which examines 60 different prosperity indicators across eight counties. The criteria site selection consultants prioritize includes things like labor supply, labor cost, business climate, quality of life, and air, sea, and road access. The Tampa Bay EDC’s Competitiveness Committee, chaired by AT&T Vice President of External and Legislative Affairs Ed Narain, is using this study to identify challenges and areas of opportunity that our organization can prioritize for action and include its FY23-25 strategic plan.

Barry Matherly, Hickey Global’s President & CEO, presented the results of our Competitiveness Study at the EDC’s Mid-Year Report on April 26. Following the meeting, he shared with local media his perspectives on how Tampa Bay is faring as a competitor in our target industries and how things like massive in-migration can help us move up from our current spot as the 18th largest metropolitan area in the U.S.I invite you to read these excellent articles in the Tampa Bay Times and the Tampa Bay Business Journal to learn more about Hickey’s findings.

You’ll be hearing a lot more about this study in the coming years as we leverage it to strengthen our top industry sectors like financial and professional services and develop strategies for enhancing our competitiveness in key industries such as life sciences, information technology and manufacturing.