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Economic Vitality

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.

Best Practices & Deeper Dives

How to Read the Tiles How to Read the Tiles

Advanced Industry and New Businesses

New businesses are a key source of job growth, and tracking this indicator provides insight into a community's entrepreneurial environment, regulatory structure, and availability of critical business inputs such as labor and financing.

New Business Start Rate
Advanced Gross Regional Product Growth Rate
Advanced Industry Job Share


Tampa Bay remains an attractive metro for establishing new businesses, ranking 5th in Business Establishment Start Rate. The region creates new companies at a rate of 13.45%, beating out the national average of 10.50%.  This a positive sign that people want to move here and that Florida has a climate and regulatory structure conducive to entrepreneurship. 

Regional annual performance fell for Advanced Industry GRP Growth Rate with our rank decreasing from 4th place to 10th place.

The Advanced Industry Job Share indicator held steady with only a small improvement from 15.32% in 2023 report to 15.44% in the 2024 report. It can be assumed that the Advanced Industry organizations within Tampa Bay are thriving and increasing their production and economic impact.


Increasing values denote a greater presence of advanced industries and a higher start rate of new businesses.


Decreasing values denote a smaller presence of advanced industries.


  • Business Climate
  • Presence of Research 1 and 2 institutions (ex. The University of South Florida)
  • Connectivity/Transportation