Investments continue to pour into Tampa despite the general feeling of economic uncertainly nationwide, giving a boost to the Tampa real estate and jobs sectors.
As business expansion means an increased demand for commercial real estate, job creation means an increased demand for residential real estate.
Here are some of the most recent investments and business projects in Tampa, increasing job opportunities and purchases of Tampa real estate:
Florida Hospital Tampa
The University Community Hospital in Tampa is now called Florida Hospital Tampa, one year after the Adventist Health System acquired it and invested millions to make it among the best in the Tampa Bay region. Its partnership with the University of South Florida is expected to further its growth and job creation goals.
Florida Hospital Wesley Chapel
This 288-bed hospital project is expected to reach its goal of opening in the third quarter of 2012, as its construction, funding and cost management have been going well.
Time Warner Resource Center
Time Warner has chosen the Tampa area for its resource center expansion after considering 59 cities. The Hillsborough County beat out big cities like Atlanta, Phoenix, Rochester in New York, Charlotte in North Carolina and Nashville. A top Time Warner executive said that Florida’s cheaper but talented labor force was probably the biggest reason why Hillsborough County was the one chosen by Time Warner.
This center, scheduled to open in 2012, is expected to create 500 jobs over the next five years with an average salary of $57,200 and a yearly payroll of more than $25 million. Currently, Time Warner has 50 employees in Tampa.
In the first two quarters of 2011, AT&T invested more than $425 million to expand and upgrade its wireline and wireless networks across the state. It increased capacity at about 110 cell sites in Pinellas, Hillsborough, Pasco, Citrus and Hernando counties. Since 2010, AT&T has added seven million telecommunications devices to its network.
Expansion of Zim Integrated Shipping’s Mexico-Tampa Express Service
The Port of Tampa added another trade connection between Florida and the Yucatan Peninsula in Mexico, with the launching of the Port of Tampa-Port of Progreso service by Zim Integrated Shipping.
Ethanol Hub Project of Kinder Morgan Energy, CSX and the Tampa Port Authority
This public-private partnership of Kinder Morgan Energy Partners, CSX Corporation and the Tampa Port Authority will deliver ethanol from the Midwest to Tampa and other cities in Central Florida through a train-to-pipeline distribution system. Ethanol carried by 100-car unit trains will be offloaded within 24 hours and distributed to blend terminals through a chain of trains, rail tracks, offloading terminals and pipelines.
Edelweiss Air Nonstop Service from Tampa to Zurich, Switzerland
Another 265 new jobs will be added to the Tampa area with the new twice-a-week nonstop service launched by Edelweiss Air from Tampa to Zurich. The Tampa International Airport was able to persuade Edelweiss to locate in Tampa with help from the Tampa Bay & Company, Visit St. Petersburg/Clearwater, Tampa Hillsborough Economic Development Corporation, and AAA Auto Club South, and the Greater Tampa Chamber of Commerce.
Indeed, these recent expansion activities are boosting business activities and creating job opportunities in the Tampa area, opening up also a lot of opportunities for the Tampa real estate market, both residential and commercial.