Tampa has emerged as a leading example of urban economic growth, securing the second position among mid-sized American cities in a recent national assessment conducted by CoworkingCafe. The analysis, covering the period from 2019 to 2023, revealed that the city’s economy expanded by 43% — the highest increase within its size category. n nAlongside this surge in economic output, average wages in Tampa rose by 38%, placing the city second only to New York in income growth. Exports climbed dramatically by 93%, reflecting deeper integration into international trade networks. The local business landscape has also flourished, with a 71% rise in new business applications. n nLabor market indicators show improvement: unemployment dropped by 2 percentage points, while employment rates increased by the same margin. Mayor Jane Castor hailed the findings, stating that Tampa’s momentum reflects successful job creation and growing appeal to global investors. She emphasized that the city is becoming an increasingly attractive destination for residents and entrepreneurs alike. n nThe broader Tampa Bay region also performed strongly, with St. Petersburg ranking fourth among mid-sized cities and Clearwater sixth among smaller metropolitan areas. These results collectively position the area as one of the nation’s most dynamic economic zones. n nFor further details, the full report is available through CoworkingCafe’s official publication. n— news from City of Tampa (.gov)
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Tampa Named One of the Fastest-Growing Economies in America
Tampa has been recognized as one of the strongest economic success stories in the country. A new national study by CoworkingCafe ranked Tampa #2 among mid-sized cities in the United States for economic growth between 2019 and 2023. n nThe study found that Tampa’s economy grew faster than any other city in its category. In just four years, the value of all the goods and services produced in Tampa jumped by 43%. At the same time, people in Tampa are earning more, with the average paycheck growing by 38%, second only to New York. Tampa also nearly doubled the amount of goods it sells to other parts of the world (+93%), showing how connected our city has become to the global economy. n nOther key highlights for Tampa include: n nNew businesses are booming with a 71% increase in business applications n nUnemployment down by 2% n nEmployment rate up by 2% n n“These results confirm what we already know – Tampa is on the rise,” said Mayor Jane Castor. “Our city is growing stronger every day, from creating good-paying jobs to attracting global investment. Tampa is proving to be one of the best places to live, work, and build a future.” n nThe study also recognized St. Petersburg (#4 among mid-sized cities) and Clearwater (#6 among small cities), making the Tampa Bay region one of the top performers in the entire country. n nFor more information and the full study, read CoworkingCafe’s report.