Tampa Bay is a vibrant and diverse region that is home to a variety of industries, from tourism and healthcare to finance, insurance, technology, construction, and the maritime industry. It is one of the most popular markets for corporate expansion and relocation in the United States due to its government and community support that favors businesses, low cost of living, and enviable quality of life. Manufacturing has a long history in Tampa Bay, where it is a source of innovation for a wide range of industries. The region has the second largest industrial employment base in Florida and is home to Jabil's global headquarters, along with more than 2,800 manufacturing firms that employ nearly 62,000 people.
From precise military specifications to the creation and development of medical devices and manufacturing in highly regulated industries, Tampa Bay companies are making an impact around the world. The area has also become a hub for the life sciences industry, with world-renowned companies such as Bristol-Myers Squibb and Johnson & Johnson choosing Tampa as the headquarters of their main North American operations. They join a stellar list of life science companies in the area, including Quest Diagnostics, Covidien, HealthPlan Services, Synergy Health, Smart Science Labs, LifeLink, Biologics Development Services, Xcelience, Alps, Bausch & Lomb Surgical, Baxter Healthcare, Bovie Medical Corporation, Oscor, Halkey Roberts, and Unilens Corp. Tampa Bay's talented workforce, strong university presence, business-friendly climate, and quality of life have made it easier than ever to find and expand a life sciences company in this country.
The Information Technology (IT) industry has also seen tremendous growth in recent years. Local IT jobs have grown at nearly double the overall average job growth rate and are expected to increase by 10 percent over the next five years. Companies operating in Tampa Bay enjoy low labor costs, favorable corporate tax policies, no personal income taxes, and stable business-friendly leadership. Collaboration between state and local government and industry has resulted in effective development packages, specific financial incentives, expedited permits, and simplified regulatory processes.
These conditions have made Tampa Bay an ideal location for companies such as Raymond James Financial Services Inc., Jabil Inc., Tech Data Corporation., The Penny Hoarder Inc., Home Shopping Network Inc., Bristol-Myers Squibb Company., Depository Trust & Clearing Corporation., Citigroup Inc., Amazon.com Inc., SouthEast Personnel Leasing Inc., USAA Insurance Group., and Welbilt Inc. The area also hosts the Special Operations Forces Industry Conference (SOFIC) every May. This three-day event presented by the Center for Special Operations Research Development & Acquisition (SORDAC) and the National Defense Industrial Association (NDIA) identifies the top priorities and business opportunities available through USSOCOM acquisition programs. The Petersburg-Clearwater metropolitan area has a strong and diverse economy with substantial opportunities for business and professional growth. The Tampa Bay area is home to nearly ten headquarters of Fortune 1000 companies.
The largest company headquartered in the Tampa Bay area is Publix Super Markets Inc., while some of the most famous companies based in the area are Tech Data Corporation., Outback Steakhouse Inc., Raymond James Financial Services Inc., Fisher Investments LLC., Cisco Systems Inc., HDR Inc., Novetta Solutions LLC., EPAM Systems Inc., and General Dynamics Corporation. The Port of Tampa is the twelfth largest cargo port in the United States as well as a major cruise port. With 20 percent of the state's IT jobs and being among the ten best American cities to work in technology according to SmartAsset as well as having one of the largest veteran workforces in the country with MacDill Air Force Base with two four-star combat commands and dozens of mission partners and specialized intelligence firms; Tampa is an ideal location for top defense and security companies. Additionally it is home to many exterior and interior door manufacturers specializing in homes as well as industries such as hospitality healthcare and education. Tampa Bay offers an abundance of opportunities for businesses looking to expand or relocate due to its government support that favors businesses, low cost of living, quality of life, talented workforce, strong university presence, business-friendly climate, effective development packages with specific financial incentives expedited permits and simplified regulatory processes. It is no wonder why so many Fortune 1000 companies have chosen Tampa Bay as their home.