Welcome to the top of the roller coaster. Now it’s all about suspense and how much you enjoy the ride!
All the pent up demand everyone was talking about is now manifesting in spending and investing for growth.
Consumer confidence is at a 17 year high, with short term expectations suggesting the pace will not likely gain momentum.
The US Leading Economic Index has slowed down and does not show signs of accelerating, even though it is still increasing at a slower pace than prior months. The only declines come by way of residential construction and employment trends in the labor market.
Retail sales will continue to grow this year as discretionary income also grows, and that means not only will store locations increase, but inventory volume through warehouses will also be affected. Tax law changes and the overall sentiment in the economy are helping.
What’s Happening Locally in Tampa, Florida?
Locally, Tampa has been on the receiving end of numerous accolades nationally and now we add “Most Livable” city in America, which is a great honor and yet another feather in our hat! At a US Conference of Mayors, our own Bob Buckhorn and one other mayor were recognized. It’s exciting to see that what we’re experiencing here locally is also being noticed and broadcast across the country and globe. It’s news like this, and recognition by leaders, that will allow our region to continue to grow even when things inevitably slow down again in the national economy. This type of fuel in our tank lasts well after we’ve used it on current sound bites and headlines. It’s the kind of continued attention that will bring more prosperity, growth and new business to our area. Congratulations Tampa!
If you knew the national spotlight was about to shine on you, what would you do to prepare for it, clean up house and show your best side to the world?
That’s the opportunity Tampa BAY has right now to show off all its community assets before everyone around the nation and the world gets to see us again.
St Pete has a huge chance to redevelop a large land site in its downtown and Tampa has a chance to develop even more near Channelside and Ybor. The new USF Med school downtown should become a major driver in our city, even larger than other proposed projects being talked about, and having 150 acres west of Hillsborough River to develop also puts more potential in our story. You can already see the success on that side of the river by visiting Julian B Layne waterfront park.
Both cities are doing great jobs of attracting CEOs from other markets to bring their companies to much more affordable neighborhoods and communities where they can enjoy life, and both mayors are presenting the same pitch. Future Mayors of our 3 largest cities will need to maintain the regional cooperation in order to compete and succeed, so we can attract the best and brightest to our region. Period.
Now, our transportation plan is a big issue we need to solve and it could include multiple varieties and solutions. Voters will have to decide and commissioners will have to find funding, but let’s that one play out with demand and density.
One final summary heard spoken by economists is that our economy has vibrancy and could even start up again before it slows down! Buckle in, its time to ride.
Let Fortress Commercial Real Estate Help Your Business
Call Fortress CRE, so we can talk expert advice on where your real estate strategy should be focused in West Central Florida. Fortress Commercial Real Estate (CRE) adds value to business owners looking to grow through their real estate, office and building needs.
For more sound advice on commercial real estate : Contact us online, by email kostas@Fortress-CRE.com or by phone 813-444-3330.