A survey of the nation's largest metropolitan centers delivered dreary news for the Sunshine State -- particularly the West Coast.
None of the eight Florida markets rated higher than middle of the pack in terms of economic performance, and five ranked among the weakest in the country.
A cluster of three of those weakest metro markets -- Tampa, Bradenton and Fort Myers -- spurred concern that Florida's West Coast remains mired in recession.
"The economic future for states hinges largely on the performance of their metropolitan economies, which bring together the innovative firms, educated workers and critical infrastructure that will propel the next wave of U.S. economic growth," the Brookings Institution study noted.
The Brookings report found that Tampa was one of just 14 U.S. cities where foreclosures continued to rise. Tampa is among 35 U.S. cities whose unemployment is higher than a year ago.
Those findings led one local paper to moan in a headline: "Tampa Bay among hardest-hit metro areas in U.S."
But Tampa officials say such indicators tell only part of the story, and they argue that the region is poised for economic expansion.
Indeed, another Brookings study supports a more bullish view of the Tampa-St.Petersburg market.
The region ranks second only to Miami-Fort Lauderdale in a host of financial and educational indices ranging from exports to innovation to economic output. Orlando places third and Jacksonville lags far behind.
Tampa officials are not locked in to remaining Florida's "Second City," however. They point to:
- A record $1.1 billion of private investment in Tampa's downtown.
- More than $25 million in Tax Increment Financing revenues generated for reinvestment in the East Tampa area, sparking nearly $150 million in private and nonprofit investment.
- The opening of the Tampa Bay History Center, the Tampa Museum of Art, and the Glazer Children's Museum -- all during the recession.
Outdoor opportunities have expanded, too, says city spokeswoman Liana Lopez.
Following the renovation and expansion of the Curtis Hixon Waterfront Park, the Tampa Riverwalk, a 2.2-mile pedestrian walkway, is under way. It ultimately will connect Riverwalk South Plaza at Channelside Drive, weaving around to USF Park north of the Platt Street Bridge.
Beyond bricks and mortar, officials say Tampa is becoming safer. Serious crime in the city has been reduced by 60 percent.
The economy and jobs have been a primary focus of a rough and tumble mayoral campaign. Democrat Bob Buckhorn and moderate Republican Rose Ferlita are vying to succeed termed-out Mayor Pam Iorio in a city election Tuesday. Both have campaigned on creating jobs and attracting business.
Tampa City Hall, in partnership with the Tampa Hillsborough Economic Development Corp., has helped to recruit or expand 22 businesses in the past year.
Officials estimate that the resulting capital investment of more than $268 million will generate more than 3,000 jobs.
One of city's biggest economic engines is the Port of Tampa.
While the dredging project at the Port of Miami has been in the news lately, Tampa is ramping up to get its share of increased business from supersized freighters that will soon ply the widened Panama Canal.
The sprawling 5,000-acre Tampa port facility plans to quadruple the size of the container terminal, raising capacity to handle upward of 1 million 20-foot equivalent units (TEUs) annually.
"Tampa is a new contender in the container trade," said port spokesman Andrew Forbes."We have a concerted effort to continue to grow the container terminal and its accoutrements as the market and our strategic plan call for.
"We have enough capacity to handle the container shipping needs of the West/Central Florida market," Forbes said.
As Tampa and the rest of Florida work through the recession, economic-development officials here say it's just a matter of time until their proverbial ship comes in.
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Contact Kenric Ward at kward@sunshinestatenews.com or at (772) 801-5341.
