All of Hillsborough County
Check out the latest trends and statistics for the commercial real estate market in all of Hillsborough County. Then, when you're done exploring the data here, check out some of the other submarkets to learn more about that local market. Our data is updated on a quarterly basis.
About Hillsborough County
Hillsborough is the most populous county in the MSA and the fourth most populous county in Florida with a population of roughly 1.4 million. The city of Tampa is the county seat and its largest city encompassing the Tampa CBD, the Port of Tampa, the Hillsborough River and Tampa's bay- Hillsborough Bay and Old Tampa Bay that is. Tampa Bay is home to nearly 80 colleges, universities, and technical schools, training the students of today for the jobs of tomorrow. The University of South Florida is one of the largest universities in the nation, with 48,000 students and more than 2,000 faculty members, researchers and teachers. Named one of “America’s Best Colleges” by Forbes it is also the fastest growing research university in the US and has been ranked among the top 15 US patent-generating universities in the world for six consecutive years.
Hillsborough County is home to the top-rated Tampa International Airport (TPA), located just 15 minutes from downtown Tampa. TPA is one of the most convenient and efficient airports in the country for business travel. Recognized as the #2 airport in the U.S. by Condé Nast Traveler and Travel & Leisure magazines, TPA provides global access to 18.5 million passengers each year. The airport is currently investing in a $1 billion expansion and renovation program, which will add a new off-site rental car facility, as well as a monorail, hotel and office buildings. Tampa Bay is also the birthplace of commercial aviation and the headquarters of the National Aviation Academy, with an influential cluster of major aircraft and aircraft components manufacturers including Aerosonic, CAE, GE Aviation, L-3, Lockheed Martin.
Port Tampa Bay is the largest port in Florida, with more than 5,000 acres of land it handles over 37 million tons of cargo every year and is the closest full-service port to the Panama Canal helping to make it a top export location within the United States, and the second largest exporter in Florida. Nearly 36 percent of exports included computer and electronic products, with other export categories including chemicals, transportation equipment, non-electrical machinery, and food products. Tampa and Hillsborough County are connected to the entire United States by roads and rail as well. Interstate systems I-4, I-75, and I-275 link the region to numerous major U.S. cities and more than 33 million consumers within an eight-hour drive according to the economic development department.
Consistent with the overall theme of the sunshine state, Hillsborough maintains the state’s Right-to-Work laws and provides companies low labor costs and a low taxes- a local sales tax of 7.0%, a state corporate income tax of 5.5% and NO PERSONAL STATE INCOME TAX. The county’s business-friendly tax and regulatory environment, skilled and educated blue and white collar workforce, high quality of life, lower cost of housing and living, minimal roadway traffic, short commutes and world-class beaches and waterways help make Tampa Bay one of the most desirable and cost-effective places to live, work and play in the nation.
Tampa Bay is home to nearly 500 international companies and is the state’s second largest exporting region. Additionally, the Tampa Bay/Orlando I-4 Corridor combine to become a super region with a population of 8 million people and a combined tourism industry which receives 60 million visitors per year, making it a huge consumer market. The combined super region area has the largest concentration of distribution centers in Florida and is the fastest growing part of the state. Tampa Bay’s close proximity to Latin America (and Asia via the expanded Panama Canal) makes it a perfectly situated platform to serve export markets throughout the hemisphere.
Source: CREXi Intelligence Reports