Tampa: an introduction, part two
Tampa survives primarily on tourism. It brings a huge influx of cash to the area, supporting many of the year-round residents. Many part-timers (snow birds) come here to escape the winter months in the north and therefore, it has one of the hottest real estate markets in the country. The real estate market has been taken advantage of by investors, land speculators and developers. Homes that would cost $800,000 in areas such as Los Angeles (where I migrated from) can be fetched here for between $200,000 and $300,000. Average returns on investments have ranged from 20 to 50 percent in the last five years, though like the rest of the country, seems to have cooled in 2006.
Other than tourism, several large corporations, banks and telecommunications companies are headquartered here. In the past, Tampa was known for its impressive art and culture, though in recent years some of that has dried up as artists have been relocating to cheaper areas of the country; a disadvantage of the real estate boom. However, in the past three years there’s been a major push for a resurgence of the lost culture from the mayor’s office, which is actively seeking ways to bring young, creative minds back to the city.
Downtown area is also undergoing a huge transformation with more than 43 condos, hotels and mixed-use developments including Donald Trump’s Trump Tower Tampa.
Also, Tampa is home to some of the best cuisine in the country as the area seems to be a hub for attracting new, innovative eatery ideas --- more on that later --- so those with an appetite for food, sun and fun find this the ideal location to assuage their appetites fill .
