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Business Observer Friday, Apr. 1, 2016 2 years ago

Tampa feels like 'value stock'

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Tampa was recently showered with some love from CNBC, in a 1,200-word article on the positive attributes of the city and region.

Tampa was recently showered with some love from CNBC, in a 1,200-word article on the positive attributes of the city and region.

“America's other city by the bay, but decidedly less expensive, has come a long way from its origins as a cigar manufacturing hub,” the article starts out. “Sprawling, fast-growing and diverse, the Tampa-St. Petersburg-Clearwater area is now home to nearly 3 million people.”

Highlights in the piece include:

Recent data shows more than 200 people a day move to Tampa, about a fifth of Florida's total net in-migration;

A look at the area's robust job market, where the 4.4% unemployment is below the national average. That includes the financial services sector, where Chase and Citigroup have about 9,000 employees collectively. It also includes St. Petersburg-based HSN, with 10,000 employees;

Quotes from real estate agents, including Stephen Gay with Smith & Associates, who says Tampa's housing market is hopping. “Sellers are in control, and inventories are extremely low,” Gay says in the story. “Buyers are looking for that perfect house, where they can just bring a toothbrush.”

And no view of Tampa would be complete without Jeff Vinik, owner of the NHL's Tampa Bay Lightning and lead developer behind a $2 million project that could transform 40 acres near downtown. “This area is an undiscovered gem,” Vinik says. “Tampa is like a value stock. It really has not been found out yet. Business is taking off and I think we are in the middle of a bull market here.”

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