Socio-Economic Overview

According to Claritas, Inc., the 2007 estimated population for the Metropolitan Tampa area is 2.7 million and is projected to increase by 8.0 percent during the next five years. The number of households is projected to increase by 8.3 percent over the next five years. According to the Tampa Chamber of Commerce, the Tampa MSA EBI (Effective Buying Income) is $51,800 and is projected to increase 22.7 percent by 2009. Current estimates indicate that the wealthier population ($100,000 and over) comprises 8.75 percent of the total MSA households, and this number is on the rise across the entire region.

Florida leads the United States in job creation, with Tampa/Hillsborough County at the forefront. The Tampa Bay region has a labor force of nearly 1.93 million, or about 22 percent of the state’s labor force. Hillsborough County has about 740,000 employed residents, and planners report that number will increase to 922,000 by 2015. The unemployment rate for the Tampa MSA has remained well below national averages for more than 50 consecutive months, and as of December 2007 it is 4.7 percent, compared to the U.S. rate of 5.0 percent.