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Foreign investment abounds in Tampa
Over 37,000 people in the Tampa Bay area work for foreign owned companies, according to a study recently released by the Tampa Bay Partnership.
Those employees work for 394 companies, including 135 with a Bay area headquarters. And combined, the companies have annual sales of $13.6 billion. The industries with the most foreign involvement are manufacturing, with 105 companies, and wholesale and retail trade, with 126 companies.
The study also identified the investor nation for each of the 394 companies. According to the study, 34 different countries operate in the area. Of note: 64 are from Germany; 56 are from England; 48 are from Canada; and eight are from Bermuda, including Accenture and Grinnell Corp.
The last time a study like this was conducted was in 2004, when only 113 companies were identified from 19 countries.
So how has Tampa gained so much traction internationally?
The study found that 28.7% of 85 respondents said they entered the Tampa Bay market as a result of a merger or acquisition. Other reasons listed included the weather, access to a large consumer market and a favorable distribution environment.
The Partnership seemed pleased with the results of their findings. In a letter preceding the report, International Chair A. Bronson Thayer stated, “We are an international business destination,” a realization he referred to as “easily reached” given the study's results.
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