The 2025 Regional Competitiveness Report demonstrates the undeniable power of data to inspire meaningful change. For eight years, this benchmarking tool has provided the insight needed to turn challenges into opportunities, helping leaders across business, government, and nonprofit sectors make informed decisions that drive progress.
Tampa Bay remains a magnet for talent, families, and businesses, ranking first in net migration and highly for in-migration of young professionals and business startup rates. Additionally, the 2025 report highlights year-over-year improvements in an outstanding 43 of 67 metrics (64%), and over a third of the indicators (23) climbed in rank.
Affordability concerns were paramount in the last edition. In 2025, major expenditures have eased slightly, and households are spending closer to $0.55 of every dollar on housing and transportation, instead of $0.57.
Poverty rates have also fallen from 12.45% to 11.96%, although the pace of improvement has been gradual, and disparities remain. While these shifts are worth celebrating, 45.81% of Tampa Bay households are classified as ALICE (Asset Limited, Income Constrained, Employed) or in poverty.
Although average wages continue to grow at around $2,500 annually, income for most residents remains less than needed to live comfortably. The impacts of the COVID-19 pandemic, followed by significant inflationary pressures on housing, mean that many long-term residents are struggling to keep up. The 2025 report also shows an increase in food insecurity, which now affects 13% of the population despite reductions in other expenditure areas.
Reducing costs and improving wages are broad approaches to addressing these challenges. There is a critical opportunity to uplift economic resilience by growing our workforce. Of the 21 Talent indicators we track, 57% demonstrated annual improvements. Of particular note, the data shows that the region’s collective energy around early education and disconnected youth has yielded fruit. For example, enrollment among 3- and 4-year-olds jumped significantly, moving Tampa Bay up seven spots in rank. Kindergarten readiness improved by 1.83%, rising to 52.11%. Third-grade reading scores increased by nearly 6%, climbing to 53.57%. And more youth ages 16-24 are finding their way into continuing education or the workforce than ever before.
Farther along the talent pipeline, we see that educational attainment rates are climbing across BA/BS and graduate levels. The data further reveals that these increases in attainment may point to supplementary “brain gain”—an influx of more educated residents moving into the region. However, the reductions in high school graduation rates, degree production for certificates and AA/AS+ degrees, and educational attainment rate for residents aged 25-34 for BA/BS+ degrees raise an alarm that we must reinforce our attention on those areas to continue cultivating homegrown talent.
Well-paying jobs are more than economic milestones—they are the foundation of a higher quality of life. When residents access sustainable wages, the ripple effects touch every facet of their lives: health outcomes improve, families thrive, and communities strengthen. The talent pipeline is the critical link in this chain, ensuring that every individual has the opportunity to gain the skills, education, and resources needed to contribute to and benefit from a prosperous region.
We are well on our way! Tampa Bay’s growth will be bolstered alongside our ability to address the challenges that come with it. Affordability, educational outcomes, and workforce readiness should inspire our collective attention. The future depends on our ability to strengthen every link in the talent pipeline and ensure that prosperity is within reach for every resident.
Together, let us learn from the data, lean in, and lead solutions for an ever-brighter future for Tampa Bay.
