Business expansion efforts are certainly helping the Tampa home market. More Tampa employees mean more people looking for Tampa homes. More professionals moving up the career ladder mean more people deciding to buy bigger homes for their growing families.
Here are recent business expansion efforts in the Tampa Bay region:
Xcelience is looking for more space to accommodate its rapid growth
Xcelience is a contract development and manufacturing firm that also packages and distributes its clients’ products. In November 2012, it opened a 25,000-square-foot clinical packaging warehouse in Westshore, and now the new facility is already working at full capacity. The firm certainly needs more space. As more pharmaceutical companies seek Xcelience’s services for the formulation, packaging and distribution of products, Xcelience is now exploring available facilities that fit its requirements.
Morgan Stanley chose the Tampa area over other cities for expansion
Morgan Stanley is a global financial services firm that has been running a 70-employee operation at the Citibank Center in Tampa. When it decided to expand, it chose Temple Terrace over other location options in Ohio and Utah. It cited the skilled workforce in the Tampa area and the quality of its current workforce as the main factors for its decision to stay in the region. It plans to open 110 high-paying jobs in the Temple Terrace operation, including positions such as financial transaction processors and investment advisors that are paid an average of $55,000 a year.
The firm has chosen a 25,294-square-foot facility at the Telecom Park’s Intellicenter to house existing and new employees. These new jobs are expected to generate about $6 million in annual payroll and impact other businesses in the region.
Morgan Stanley serves clients worldwide and manages 1,200 operations in 43 countries. It provides a wide range of investment banking, investment management, wealth management and securities services.
Success of Swiss airline Edelweiss at the Tampa International Airport
Edelweiss posted higher load factors in 2012 in its Tampa route that its Orlando route in 2011. Load factor refers to the percentage of an airplane’s total capacity. In July 2012, the Tampa route posted a 73-percent load factor. In September and October 2012, the load factors were 63 percent and 89 percent, respectively, much better than the 58-percent load factor in July 2011 in its Orlando route.
Tampa officials were able to persuade Edelweiss Air about the business prospects of serving the southwest coast of Florida. It emphasized the Tampa Bay region’s market demographics, including the fact that the Tampa-St. Petersburg-Sarasota region has a buying income of $96 billion and has 3.5 million people within an hour’s drive. The diversity of the region and its attractiveness for European tourists were also great selling factors.
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