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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.
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.
The unemployment rate measures the percentage of people ages 25-64 who are looking for work as a share of the labor force, and provides a measure of the overall growth or contraction of the economy.
Tampa Bay’s unemployment rate for ages 25-64 has gotten slightly worse, increasing from 3.47% of our population to 3.63%. The region now is performing better than the national average (3.80%). Year-over-year, Tampa Bay’s unemployment ranking has improved from 14th to 10th, reflecting higher unemployment rates in other parts of the country.
