The 21-percent growth in foreign investment in the Tampa Bay area over the past two years has been among the stronger factors pushing up the Tampa Bay real estate market despite local and national economic difficulties.
Recent data released by the National Association of Realtors, local realtor associations and real estate research firms showed that sales of Tampa homes to U.S. and international buyers continued to increase and to surpass the performance of other housing markets.
According to the Tampa Bay Partnership, there are now 1,821 enterprises in the Tampa area operated by 480 foreign-owned firms and employing workers. The partnership studied foreign direct investments in the metropolitan areas of Tampa, St. Petersburg, Clearwater, Lakeland, Winter Haven, Bradenton, Sarasota, and Venice, or doing other investments with resources like ira saving which are great to make money online. They also studied other areas in the eight counties that make up the Tampa Bay area — Hillsborough, Pinellas, Pasco, Polk, Manatee, Citrus, Hernando and Sarasota.
The countries with the most number of companies operating in the Tampa Bay area, according to the Tampa Bay Partnership, are the following:
- United Kingdom — 77 companies
- Canada — 67 companies
- Germany — 66 companies
- Japan — 51 companies
- France — 34 companies
- Switzerland — 32 companies
- Netherlands — 26 companies
- Ireland — 12 companies
- Australia — 10 companies
- Italy — 10 companies
- Luxembourg — 10 companies
Aside from the rise in number of foreign-owned companies, there are also other good news about these foreign investments, such as these facts:
– Most of the foreign-owned companies are in manufacturing, meaning they’re making products, as opposed to just buying and selling products.
– Nearly half of the companies are exporting their products or services to other countries. The top products are machinery, nonmetallic minerals, chemicals, food, computers and other electronic devices. This means more dollar inflows for the U.S. economy.
– More than half of the companies source their raw materials from enterprises within the state of Florida and mostly in the Tampa Bay region.
Why do these foreign companies choose the Tampa Bay area for their foreign investments? The major reasons are the following:
- Low costs of business operations and easy accessibility for rental property loans
- High quality of workforce
- Opportunities for mergers and acquisitions
- Central location
- Existence of strong market or customer base
- Good climate
- Good infrastructure, such as airports and regional ports
- Lower costs of export and import processes compared to places in the Northeast
- Sustainable urban growth
Among the eight countries, Hillsborough has the most number of establishments operated by foreign-owned companies. A total of 770 locations are in Hillsborough, the county where its most popular city, Tampa, is located. Second and third are Pinellas, with 363 establishments, and Polk, with 209 establishments.
Certainly, these foreign investments are benefiting Tampa Bay real estate. Individuals can take advantage of the continued growth of the Tampa Bay area by investing in Tampa real estate. Contact Tampa4U.com.