Here are the most recent developments at USF that have significant impact on Tampa Bay’s economic growth:

The USF Heart Institute Launched Its Genomics Laboratory in May 2013

The institute opened its genomics laboratory on the fifth floor of the Byrd Alzheimer’s Institute to study genomics, regenerative medicine,personalized medicine and the prevention and treatment of heart diseases.

Funds totalling $8.9 million for the laboratory came from the state of Florida and Hillsborough County.  Job opportunities that arose from this project include jobs for faculty and post-doctoral fellows and technicians.

Tampa/Hillsborough Economic Development Corp. Promotes Tampa Bay as Health Care Hub

Tampa Bay leaders believe that the region can be the Silicon Valley of the health care industry. With the continuing significant research achievements of the University of South Florida, the leadership of Moffitt Cancer Center in cancer research and treatment and with the abundance of medical device makers and pharmaceutical manufacturers in the Tampa Bay region, this vision can become a reality in the next several years.

USF Receives $2.8 Million in Funding from the National Institutes of Health (NIH) for Breast Cancer and Genetic Testing Research

Together with leading health care benefit provider Aetna, the University of South Florida will use the $2.8 million research grant given by the NIH to study the impact of genetic testing on how breast cancer patients and their doctors decide on their treatment options. The five-year study titled American BRCA Outcomes Among the Recently Diagnosed (ABOARD) will study 5,000 Aetna members from across the U.S. who have been recently diagnosed with breast cancer and who are undergoing or who have undergone genetic testing.

USF Partnering with Medical Device Makers and Other Health Care Firms in Developing Products

The University of South Florida Center for Advanced Medical Learning and Simulation (CALMS) has been creating public-private partnerships with medical device makers, medical and aviation simulation companies and other health-care related enterprises to develop products that can transform medical research, diagnosis and treatment. Across Florida, there are more than 660 medical device manufacturers employing almost 21,000 workers at an average wage of $60,677.

Research Partnership Between USF and New Energy Technologies Leads to Fabrication of Glass Windows that Can Geneerate Electricity

Maryland-based New Energy Technologies’ research partnership with the University of South Florida has led to the development of a patent-pending spray technology that will improve the power conversion efficiency of New Energy Technologies’ SolarWindow photovoltaic technology, which is nearing commercialization for application by commercial buildings and houses in generating electricity using their glass windows.

As Tampa Bay region becomes a leading health care and medical hub in the country, other industries such as real estate will certainly follow with fast growth, as more employees relocate and more employees move up.

Over the past three years, based on information from the Council for Community and Economic Research, Tampa has averaged a cost of living index of 92.1, nearly 8 points below the national average of 100. In 2012, its annual average cost of living index was 93, much lower than the annual averages of Orlando, Miami and Jacksonville and other large cities in the U.S.

The cost of living index (COLI) measures the cost of consumer goods and services in about 307 cities in the U.S. It measures the prices of nearly 60 different items three times a year with help from economic development organizations, university applied economic centers and chambers of commerce in participating cities. The six basic components incorporated in the COLI are the following:

Housing
Utilities
Grocery Items
Transportation
Health care
Miscellaneous goods and services

You can appreciate more the cost of living in Tampa if you take a look at the COLI in the most expensive U.S. cities.

Here is a list of the 10 cities or urban areas with the highest COLI in the first three quarters of 2012:

The Cost of Living Estimates from Redmond, Washington-based Economic Research Institute (ERI) also shows that Tampa is among the most affordable cities in Florida and in the country. The ERI Cost of Living estimate represents the cost of living a similar lifestyle as the U.S. national average lifestyle at a yearly earnings level of $70,000.

ERI considers the costs of housing, consumables, transportation and health care. As of May 2013, the estimated cost of living the U.S. average lifestyle in these cities are the following:

Hillsborough County, where Tampa is located, is in most of these rankings.  The Tampa Bay region  has been showing growth rates faster than most other counties.  As of last year, it was fourth in population, and in 2040, it is expected to become the third most populated county, behind only Miami-Dade and Broward and surpassing Palm Beach County.

Five counties have surpassed the seven-digit mark in population.

Ten Most Populated Florida Counties as of 2012

Ten Counties Projected to be the Most Populated Florida Counties in 2040

Top Ten Florida Counties in Number of Households as of 2009

Based on median income for a family of four as of 2012, as estimated by the U.S.Department of Housing and Urban Development (HUD), Collier and Monroe posted the two highest medians.

Ten Counties with the Highest Median Income as Estimated by the HUD

Median Income in Some Highly Populated Counties

Hillsborough County was in the middle of the ranking of the top ten counties.  The same with the other highly populated counties, namely Miami-Dade, Broward, Orange, Palm Beach, Pinellas and Pasco.

Here are some of the most recent significant growth endeavors in the  Tampa Bay business sector.

Depository Trust & Clearing Corp. (DTCC) Invests $4.8 Million to Create 255 New Jobs

The global financial services company Depository Trust & Clearing Corp. has decided to invest $4.8 million to expand its facility in Tampa to create 255 new jobs.  DTCC said that it chose the Tampa area for expansion because of the availability of a skilled workforce and the excellent quality of life that employees enjoy in the Tampa area.

DTCC also credited its partnerships with the University of South Florida, MacDill Air Force Base and other institutions for its decision.  High-wage jobs will be created in growth sectors such as information technology, finance and human resources.

Bioscience Firm Xcellence LLC Looking to Expand Again

Xcellence  LLC is on its path to become one of the top bioscience enterprises in Florida. After launching operations in its new warehouse and distribution facility in Westshore just a few months ago, the company is again looking for expansion as its Westshore facility has already reached its capacity.  Xcellence is growing fast because it does not only perform pharmaceutical development and manufacturing for its clients, it also does packaging and distribution for them.

Most of Xcellence’s clients are mid-size and large pharmaceutical companies and among its top projects are cancer drugs, orphan drugs and pharmaceuticals that can treat rare medical conditions.

Synergy Health Makes Tampa its Corporate Center for the Americas

UK-based Synergy Health, which provides outsourcing services to the health care industry, has relocated its corporate headquarters in the Americas from San Diego, California to  Tampa. It will hire about 30 more people to add to its current workforce of about 90 at its Race Track Road offices.  It also has other groups of workers at another operations plant in Tampa.  Synergy acquired SRI Surgical in July 2012 for about $28 million.

German Companies Will Explore Tampa Bay Area

Eight German companies operating in the pharmaceutical equipment cleaning, water filtration and aerospace industries are scheduled to visit the Tampa Bay area to explore distribution and sales activities in the region and possible manufacturing activities in the future.

Some German firms already operating here include Ruag Ammotec USA, UBS Financial Services, Key Trade and Zeppelin Systems USA.  Tampa Bay development officials traveled to Germany and Switzerland in April to meet businesspeople and encourage them to expand in Tampa.

The other good news is that the fastest-selling  Tampa homes  in March
were the half-million-dollar properties. Homes in the price range $500,000 to $599,999 stayed on the market in March for an average of
only 52 days, the lowest number among all price ranges. Indeed, higher-income buyers did not have to take a long time to decide in March as those homes in the close-to-$1-million price range stayed on the market for an average of only 60 days, the third lowest average in March.

The second-fastest selling price range — $60,000 to $69,999 — stayed on the market for an average of 58 days.

Average Number of Days Properties Stayed on the Market in March

Considering all price ranges and all properties sold, the average number of days  Tampa properties  stayed on the market in March was 75 days. At the slow end expectedly is the more-than-one-million-dollar price range.

Properties priced more than a million dollars stayed on the market for 128 days.

For the most popular price range — $200,000 to $249,999 — the average stay on the market is 72 days.

Average Number of Days Properties Stayed on the Market from Jan to March

Million-dollar homes and costlier properties stayed on the market during the first quarter for an average of 182 days.

Housing Inventory

The continued increase in home sales without a corresponding increase in listings has been eroding the Tampa Bay area’s housing inventory. From a high of more than 20,000 units in the boom years, the number of available homes for sale has gone down to 6,350 units in March, a number that would be sold in just 2.9 months, based on current home sales pace.

Over the year, the inventory dropped by nearly 40% from 10,538 units in March 2012.

Tampa Bay inventory is down to just 6,350 homes for sale.

Search your Tampa home now.

Additionally, these 12 metro markets all surpassed 100, the level at which a median-income family has the exact income to buy a median-priced existing single-family home with a 20-percent down payment and with the monthly principal and interest payments accounting for 25% of the monthly income.

The farther up the index from 100, the stronger the purchasing power of median-income families in the area for pre-owned single-family homes.

NAR calculates the housing affordability index comparing the metro area’s median household income and the median home price, together with the effective mortgage interest rate.

The national single-family home affordability index in 2012 was 193.5, which was surpassed by ten major  Florida metro markets,  as shown in the following table:

Note though that the index for Ocala was for the fourth quarter of 2011. Its index for the fourth quarter of 2012 was missing.

The affordability index in the  Tampa Bay real estate market  is 36.1 points higher than the national index and more than double the 100 level. As of the fourth quarter of 2012, the median home price in the  Tampa  area was $137,200, lower by 23.3% than the national median home price of $178,833 in the same quarter. The conforming loan limit and FHA loan limit for the area are both $417,000.

In terms of year-over-year improvement in housing affordability, it was Gainesville that led the other 12 markets. Although Cape Coral-Fort Myers declined in affordability over the year, its affordability index was still among the highest.

The 12 metro areas with the highest housing affordability indices in 2012 were the following metro markets:

The following numbers for February 2013 prove that indeed Tampa single-family homes, condos, townhomes, villas, and co-ops are being snapped up by owner-buyers and investors.  All numbers are based on reports released by the Greater Tampa Association of Realtors (GTAR) and Florida REALTORS.

SINGLE-FAMILY HOMES

1.  Closed sales of single-family homes increased over the year by 22.4%, from 874 to 1,070 units.

2.  Cash sales increased over the year by 51.6%, from 335 units to 508 units.

3.  The median sales price  increased over the year by 23.4%,  from $129,900 to $160,250.

4.  The average sales price increased over the year by 16.3%,  from $172,821 to $200,975.

5.  Single-family homes got sold faster, from a median of 53 days in February 2012 to 41 days in February 2013.  That’s an improvement of 22.6%.

6.  Buyers and investors have been willing to give in to the sellers’ desired prices.  Last year, buyers paid an average of 92% of the listing price;  in February this year, buyers paid an average of 93.8% of the listing price.

CONDOS and TOWNHOMES

1.  Cash sales of condos and townhomes rose over the year by 6.8%,  from 220 units to 235 units.

2.  The median sales price increased year-over-year by 8.6%, from $70,000 to $76.000.

3.  The average sales price rose over the year by 19.7%, from $100,372 to $120,122.

4.  Tampa condos and townhomes  got sold faster compared to last year, even faster than sales of single-family homes this year.  These properties stayed on the market this February only for 28 days,  a big improvement of 34.9% compared to 43 days in February 2012.  Buyers and investors have been snapping them up.

5.  Sellers have also been getting much of their desired prices.  Buyers paid an average of 95.5% of their listing prices this February, an improvement from 92.8% in February 2012.  The percentage was even higher than that for single-family homes.

GREATER TAMPA Sales

SINGLE-FAMILY HOMES

1.  Cash sales of single-family homes shot up from 427 units to 658 units over the year.  That’s a sharp increase of 54.1%. Cash sales accounted for 48% of all closed sales.  That’s almost half,  and it also represented an improvement of 28.8% compared to the cash-sale percentage in February 2012.

2.  The number of closed sales, the median sales price, the average sales price, and the percentage of listing price paid for single-family homes also increased over the year.

CONDOS and TOWNHOUSES

3.  The average sales price for condos and townhouses increased by 24.2%, from $101,149 to $125,608.

4.  For condos and townhomes, all numbers improved, including number of closed sales, cash sales, median sales price, pending sales, number of new listings, and median number of days properties stayed on the market.

5.  The percentage of cash sales increased over the year by 3.3%
to a significant 70.1% of all closed sales.  Over the past 12 months, cash sales hovered between 61.3% to 67.9% of all closed sales.  Indeed, more buyers are shelling out cash for condos and townhomes.

The 20-city composite index, usually called Standard & Poor’s/Case-Shiller index and created by economists Karl Case and Robert Shiller, compares the current and previous sales of detached houses, taking into consideration several factors such as remodeling.  It follows the changes in prices of detached
homes in 20 cities selected as representative markets:

Atlanta
Boston
Charlotte
Chicago
Cleveland
Dallas
Denver
Detroit
Las Vegas
Los Angeles
Miami
Minneapolis
New York
Phoenix
Portland
San Diego
San Francisco
Seattle
Tampa
Washington, D.C.

The year-over-year increase in the  Tampa home  price index was 8.9%, higher by 0.8 percentage points than the increase in the 20-city composite index, which was 8.1%.  Tampa was 11th among the 20 selected cities.

Phoenix posted the highest percentage increase, 23.2%, followed by San Francisco, with 17.5%, and Las Vegas, with 15.3%.  Eight cities posted double-digit increases, including the other Florida city in the price index, Miami.

The country’s largest cities, New York and Chicago,  posted the lowest percentage increases, posting increases of 0.6% and 3.3%, respectively.

CoreLogic’s Home Price Index also showed year-over-year increases in home prices in all states, except Delaware and Illinois.  Prices for homes nationwide, including distressed housing units, increased by 9.7% from January 2012 to January 2013, the highest rate of year-over-year increase since April 2006.  Compared to prices in the previous month of December 2012,  prices in January 2013 also showed an increase of 0.7%.

In the fourth quarter of 2012, based on data from the National Association of Realtors (NAR), the median sales price for existing single-family homes in the Tampa-St. Petersburg-Clearwater area increased to $137,200, up by 1.25%
from $135,500 in the fourth quarter of the previous year.

Based on data from the  Greater Tampa  Association of Realtors (GTAR),  the average sales price for  single-family homes in Tampa  in January 2013 was $169,354, an increase of 16.6% from $145,273 in January 2012.  The average listing price also increased,  posting a rise of 15.6% from $152,608 in January 2012 to $176,412 in January 2013.

This homebuilder is known for innovation and its efforts to create energy-efficient homes. It also known for being a happy place for employees, thereby producing excellent products for happy customers. For seven times, it was recognized as one of FORTUNE Magazine’s 100 Best Companies to Work For, including a 17th ranking in 2008.

Showcase Tampa Bay Home

The Showcase Home is the Maybeck by David Weekly Homes,  a 2-story 4-bedroom 3 1/2-bath and 3-car  garage home with a total living area of 3,042 feet.  It offers an open floor plan, giving owners smooth traffic patterns, clear sight lines and optimized room placement.

Among the winning features of the Maybeck home are:

•  the gourmet kitchen that opens to the family and breakfast rooms and which can be used as a gathering place for family and friends
•  the grand foyer that is welcoming to owners and guests
•  the lanai that opens to the outdoors and to the night sky and to the swimming pool which has its own bathroom

Waterset by Newland Communities

The Maybeck home is available starting at $364,000 in a nature park-filled community called Waterset by Newland Communities in Apollo Beach.  This is  a 1,319-acre community where you can enjoy a 12-foot-wide trail system, passing by lakes, ponds, community parks, neighborhoods and dog parks.  At the pier overlooking the lake, linger alone and reflect or enjoy conversations with your loved ones as you watch the sunset.

The community also has a gathering place called Landing, where you can hang out, have coffee and meet friends and neighbors.  The community swimming pool and the fitness center are other options for enhancing health and just enjoying life.

Newland Communities has been developing amazing communities for the past  40 years, becoming the country’s largest private developer of mixed-use urban communities and planned residential communities.  In 2010, it was recognized by Builder and Developer magazine as Developer of the Year.  Among its successful  communities in the Tampa Bay  region are FishHawk Ranch, Westchase and MiraBay.

Some of the  Tampa Bay homes  chosen for the Tampa Bay Parade of Homes are:

Alexander Woods Townhomes in Plant City, by Florida Home Partnership
MiraBay BayBreeze in Apollo Beach, by Cardel Homes
Trinity Preserve, in Tampa, by Lennar Homes
Terra Bella in Land O’ Lakes, by Homes by WestBay
Panther Trace FairLawn in Riverview, by D.R. Horton
WaterGRass Glenbrook in Wesley Chapel, by Standard Pacific Homes
Arbor Reserve in Valrico, by Sunrise Homes
Gulf Winds in Holiday, by Beazer Homes
The Reserve at Hampton Lakes in Tampa, by M/I Homes
Champions Forest in Tampa, by Ashton Woods Homes
Keystone Springs in Tarpon Springs, by Deeb Family Homes

Search Tampa homes by HOMEBUILDERS 

This home price range has been the best selling price range last year, with some months excluding homes priced less than $50,000, which are the ones snapped up in bulk by investors.

In February, this price range even surpassed sales for the lowest price range, which is less than $50,000. Sales of homes priced $200,000 to $249,999 reached 180 units in February, accounting for almost 13% of all single-family homes and villas sold in for February. The sales volume was almost 27% higher than the second-best-selling price range, the usually pursued by investor less-than-$500,000 price range.

Single-Family Homes and Villas

The 5 best selling price ranges in February 2013 for single-family homes and villas:

For the whole year of 2012, the best-selling price range for Tampa homes was also the same price range, the $200,000 to $249,999 price range. It surpassed the less-than-$50,000 price range.

Here are the 8 top-selling price range in 2012, all in 4-digit sales:

Condos, Townhomes and Co-ops

For Tampa condos, townhouses and co-ops, the best-selling price range in February was the less-than-$50,000 range, accounting for 19.5% or almost one-fifth of all condos, townhomes and co-ops sold within the month. The $200,000 to $249,999 price range sold only 18 units, accounting for only 5% of total sales of these types of units in February.

For the whole year of 2012, the best-selling condos, townhomes and co-ops were those priced less than $50,000, accounting for 25% or one-fourth of all condos, townhomes and co-ops sold in 2012.

In February, a total of 1,780 Tampa housing units of all types got sold, representing the same rate of increase from January 2013 and from February 2012, which is 7.3%. The average sale price was $172,025, a jump of 2.3% from the previous month and a jump of 13.3% from February 2012.

Search  Tampa Homes  by price range, by city, by community

In the Tampa area, families have a lot of school options, as there are a good number of top-performing public schools in Hillsborough County.

Here are the top 20 high schools in the Tampa area, based on the results of the 2010-2011 Florida Comprehensive Assessment Test (FCAT) and Learning Gains and non-FCAT assessments.
 

Communities with Top-Performing High Schools:

CARROLLWOOD 33618
Gaither High School

DOVER  33527
Strawberry Crest High School

LITHIA 33547
Newsome High School

LUTZ  33558
Steinbrenner High School

RIVERVIEW 33569, 33578
Riverview High School
Spoto High School

NEW TAMPA 33647
Wharton High School

SOUTH TAMPA 33629
Plant High School
Robinson High School

PLANT CITY  33563
Durant High School

VALRICO 33596
Bloomingdale High School

WESTCHASE  33626
Sickles High School

NORTH TAMPA 33612
Brooks DeBartolo Collegiate High School

NORTHEAST TAMPA  33610
King High School
Tampa Bay Tech High School

SOUTH SEMINOLE HEIGHTS 33603
Hillsborough High School

Average No. of Days on the Market

For the second consecutive month this January 2013, homes for sale in Tampa stayed on the market for an average of only 78 days, just a few days more than the average in 2006, a year when the Tampa housing market was at one of its peaks.  This 78-day average was also achieved in December 2012, the lowest average since February 2007 when Tampa residential properties stayed on the  market for an average of 76 days.

From October 2007 to March 2012, Tampa homes had been staying on the market for 100 days or more, with just a few months posting a number below 100, making the 78-day average a significant indicator of Tampa housing market recovery.

What’s also encouraging for the Tampa housing market is that the fastest-selling   price range in January was the $500,000 to $599,999 price range.  Homes in this price range stayed on the market for an average of only 55 days.

Fastest-selling Price Ranges:

$500,000 to $599,999  –  55 days
$50,000 to $59,999  –  59 days
$140,000 to $159,999  –  65 days
$400,000 to $499,999  –  67 days
$70,000 to $79,999  –  71 days
$160,000 to $179,999  –  70 days
$180,000 to $199,999  –  70 days
$250,000 to $299,999  –  72 days

Falling Housing Inventory

One reason for the faster pace of home sales is the declining Tampa housing inventory.  From the nearly-6-year peak of 22,035 housing units for sale in May 2007, the number of available homes for sale in the Tampa Bay area has gone down to only 6,525 units in January 2013. That’s a big fall of 70.39%.  It was also an 11.6-percent-drop month-over-month and a 40.52-percent drop year-over-year.  Inventory has been dropping by the hundreds month-to-month since 2007.

Rising Home Prices

Another reason for the increasing pace of homebuying is the continued increase in home prices.  In 2012, Tampa home prices increased month-to-month, with just 3 exceptions.  The average sale price for single-family homes, condos, co-ops and townhomes in January 2013 was $169,354, an increase of 16.6% compared to the average price of $145,273 in January 2012.  Although the January 2013 price was a few thousand lower than the average in the previous month, prices are expected to continue their upward trend.  The year-over-year increase in average listing price was 15.6%.

Here are the top 25 elementary schools in Hillsborough County, where the city of Tampa is located, based on school grade points achieved for the 2010-2011 school year. School grade points are based on scores in the Florida Comprehensive Assessment Test (FCAT).  The FCAT is administered to school children in grades 3 to 11 to test their abilities in reading, writing, mathematics and science and to measure their progress toward meeting the educational benchmarks of the state of Florida.

 
The top school, Bevis, is located in Lithia; the second, Westchase, is in the place it was named after; and the third, Roosevelt, is located in South Tampa. All the 25 schools above got a grade of A in 2010 and 2011.

Based on the top 25 list above, the communities with the most number of top-ranking elementary schools are South Tampa, New Tampa, Westchase, Valrico, Lutz and Lithia.

Some of the more significant development projects in January and February 2013 in downtown Tampa are the following:

Restoration of 101-Year-Old Federal Courthouse, Conversion into Le Meridien Hotel

The federal courthouse, located along Florida Avenue and built in the 1990s, will be renovated and turned into a 130-room hotel to be named Le Meridien Hotel.  Its Beaux architecture is expected to attract visitors and energize businesses in the area. visitors The engineering and construction work will create about 400 temporary jobs and the hotel operation will create 100 permanent jobs.

Wells Fargo Donation of $800,000 for Neighborhood Stabilization

Leading bank and home mortgage lender Wells Fargo donated grants totaling $800,000 million to six nonprofits in Tampa in February 2013 to help in the continued recovery of neighborhoods downed by the housing crisis.  The funds will be used for various programs and services such as home purchase down payment assistance, affordable housing construction, neighborhood beautification, workforce development, transitional housing, homeless shelter, counseling and micro-business assistance.

The six recipient nonprofits are the following:
Rebuilding Building Together Tampa Bay
Tampa Bay Black Business Investment Corp.
Volunteers of America
Keep Tampa Bay Beautiful
USF Small Business Development Center
MacDonald Training Center

Creation of Neighborhood University program

This program will provide formal leadership training to the next generation of civic and community leaders in Tampa and at the same time empower existing neighborhood leaders.

Completion of the New Tampa Boulevard Bridge Ahead of Schedule

This $12.8-million bridge over I-75 that links Commerce Park Boulevard in Tampa Palms to New Tampa Boulevard in West Meadows has been completed six months ahead of schedule.  It includes an 8-foot wide pedestrian and bicycle trail on the north side and a 5-foot sidewalk on the south side.  This bridge offers an alternative to the I-75/Bruce B. Downs interchange.

Construction of a 350-unit High-Rise Residential Complex near Straz

This 36-story residential complex will include about 10,000 square feet of retail space on the ground floor.  With Cass and Tyler streets reconfigured, the complex will highlight the connection of the Arts District and Curtis Hixon to North Downtown and the Straz center.  It is also expected to transform Cass Street into a central spine as described in the InVision Tampa Center City plan.

The $85-million complex will be developed by Intown/Framework Group, LLC together with intowngroup, Framework Group, Baker Barrios Architects, Beck Group and Moss and Associates.

Search DOWNTOWN TAMPA CONDOS

Here are recent  business expansion  efforts in the Tampa Bay region:

Xcelience is looking for more space to accommodate its rapid growth

Xcelience is a contract development and manufacturing firm that also packages and distributes its clients’ products.  In November 2012, it opened a 25,000-square-foot  clinical packaging warehouse in Westshore, and now the new facility is already working at full capacity.  The firm certainly needs more space.  As more pharmaceutical companies seek Xcelience’s services for the formulation,  packaging and distribution of products,  Xcelience is now exploring available facilities that fit its requirements.

Morgan Stanley chose the Tampa area over other cities for expansion

Morgan Stanley is a global financial services firm that has been running a 70-employee operation at the Citibank Center in Tampa.  When it decided to expand, it chose Temple Terrace over other location options in Ohio and Utah. It cited the skilled workforce in the Tampa area and the quality of its current workforce as the main factors for its decision to stay in the region.  It plans to open 110 high-paying jobs in the Temple Terrace operation, including positions such as financial transaction processors and investment advisors that are paid an average of $55,000 a year.

The firm has chosen a 25,294-square-foot facility at the Telecom Park’s Intellicenter to house existing and new employees.  These new  jobs  are expected to generate about $6 million in annual payroll and impact other businesses in the region.

Morgan Stanley serves clients worldwide and manages 1,200 operations in 43 countries.  It provides a wide range of investment banking, investment management, wealth management and securities services.

Success of Swiss airline Edelweiss at the Tampa International Airport

Edelweiss posted higher load factors in 2012 in its Tampa route that its Orlando route in 2011.  Load factor refers to the percentage of an airplane’s total capacity.  In July 2012, the Tampa route posted a 73-percent load factor.  In September and October 2012, the load factors were 63 percent and 89 percent, respectively, much better than the 58-percent load factor in July 2011 in its Orlando route.

Tampa officials were able to persuade Edelweiss Air about the business prospects of serving the southwest coast of Florida.  It emphasized the Tampa Bay region’s market demographics, including the fact that the Tampa-St. Petersburg-Sarasota region has a buying income of $96 billion and has 3.5 million people within an hour’s drive.  The diversity of the region and its attractiveness for European tourists were also great selling factors.

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