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The clusters of Bioscience, Corporate Headquarters, Financial Services, Manufacturing and Distribution, and Port Maritime, each contribute a significant impact to the economic development and diversity of Tampa and Hillsborough County.
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INDUSTRY CLUSTERS
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The Committee of One Hundred's economic development initiatives for Hillsborough County and the cities of Tampa, Temple Terrace and Plant City include a focus on development and expansion of industry clusters. Clusters, as defined by Harvard Business School's Institute for Strategy and Competitiveness, are geographic concentrations of interconnected companies, specialized suppliers, service providers, and associated institutions in a particular field that are present in a nation or region. Focusing on multiple clusters ensures a diverse business environment complimented by affordable business and living costs, an abundant workforce and remarkable job growth.
The Tampa MSA is home to a cluster of bioscience industries. The analytic instruments cluster employs 11,949 individuals with an average wage of $50,221. The medical device manufacturing cluster employs 7,712 individuals with an average wage of $42,907. The growing pharmaceutical cluster employs 2,719 individuals with an average wage of $26,369.
The Tampa-Hillsborough area is an ideal headquarters location and has a growing number of corporate headquarters. The area's pro-business environment includes a robust workforce, low business and living costs, top-flight education and training opportunities, solid infrastructure systems and, of course, wonderful weather year-round.
The Tampa-Hillsborough area has become a financial services powerhouse, with 45,000 jobs paying average salaries in excess of $50,000. Citigroup, JPMorgan Chase, Depository Trust & Clearing Corp. and MetLife are among the many financial services firms with high-tech centers in Tampa.
With its skilled workforce, excellent transportation, solid infrastructure and low business costs, the Tampa/Hillsborough area has become a growth center for manufacturing facilities. And the Port of Tampa, Florida's largest port, facilitates distribution to Latin America. About 600 large and small manufacturers employ thousands of workers in Tampa/Hillsborough.
Located just east of downtown Tampa's central business district, the Port of Tampa is a large economic engine for all of West Central Florida. Designated as a Foreign Trade Zone (FTZ No. 79), the Port handles nearly 50 million tons of cargo per year and is Florida's largest cargo volume seaport. The 5,000-acre Port is home to more than 250 businesses and over 22,000 workers which handle 3,500 vessel calls per year. With a 43-foot-deep main channel and one of the largest shipbuilding and repair centers in the Southeast, the Port is a full-service facility for shipping lines and is the closest major U.S. port to the Panama Canal. The Port also hosts North America's largest dockside cold storage terminal.
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