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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.
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.
The affordability of a community cannot be assessed by just looking at the cost of expenditures. The cost of housing must be viewed in the context of the income that can be earned in the community. Generally, housing costs should not exceed 30 percent of a household's total income. As housing costs climb in some areas, wages have failed to keep pace, and this discrepancy may put a large segment of the population at risk. Transportation costs are a family’s second highest expense, behind housing.
Affordability metrics improved slightly, with housing and transportation expenditures as a percentage of income falling from 55.35% to 53.33%, and housing expenditures alone improving to 39.63% (an improvement of 1.5 percentage points).
Transportation costs saw marginal improvements, with expenditures falling to 13.70% of income. Ranking improved from 18th place to 15th place.
Improvements are driven by higher incomes, not by lower housing or transportation costs.
