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Economic Vitality measures the quantity and quality of jobs within a region, the relative incomes that its residents earn, the wealth they attain, and economic opportunities for its entrepreneurs.
Innovation measures the extent to which a community and its institutions are generating new ideas and inventions, and the market’s reception of these ideas.
Infrastructure measures the quantity and quality of the investment a region makes in underlying structures, including transportation and broadband internet.
Talent measures who is working today, and how well the region’s talent pipeline is being prepared for the jobs of tomorrow.
Civic Quality measures the affordability of a region, the health and safety of its citizens, and the recreational opportunities that impact its quality of life.
Outcomes measure the growth of the regional economy, the extent to which economic growth is being enjoyed by everyone, and the attractiveness of the region for its current and potential residents.
For the purpose of the Regional Competitiveness Report, the data presented for the Tampa Bay region reflects the eight counties of Citrus, Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk, and Sarasota.
The Tampa Bay Partnership is a coalition of regional business and nonprofit leaders, joined by a shared commitment to improving the personal and economic well-being of Tampa Bay residents. Through its foundation, the Partnership conducts objective, data-driven research to identify the region’s greatest challenges and measure our progress toward shared community goals. This work includes the Regional Competitiveness Report, which helps measure our region's performance against other communities nationwide.
Economic Vitality measures the quantity and quality of jobs within a region, the relative incomes that its residents earn, the wealth they attain, and economic opportunities for its entrepreneurs.
The level of household earnings is an indicator of the relative prosperity of a community, its buying power, and reliance on the social safety net. We track the Median Household Income, as well as and the average (mean) of the lowest 20% of household incomes which helps to assess if economic gains in the community are being spread across the entire population. Median Net Worth helps to gauge retirement income available and the level of dependency a population will have on the government or non-profits for support.
Median household net worth surged by an impressive 45.20% to $252,099, likely due to corrections in the stock market. However, this may also be attributed to an influx of older, wealthier residents moving into the region.
While median household income rose to $72,413, we maintained our rank in 20th place. The lowest income quintile saw gains from $15,351 to $16,554, finally moving above the national average and improving our ranking from 19th to 18th place.
